PPC Bid Management Tools from WordStream
PPC bid management tools are an important part of pay-per-click advertising. Monitoring and adjusting your keyword bids to maximize your advertising budget is essential for Google Ads success.
While small advertisers may have an easy time managing their PPC keyword bids manually, as the business grows, it becomes increasingly difficult to track and manage PPC bids on a purely manual basis. Often, small and medium-sized businesses lacking time and resources to constantly monitor their keyword bids fall victim to the "set it and forget it" method, causing them to lose money over time.
Let's take a look at how PPC bid management tools can help you control your budget and get better results from your online ads.
How to Manage Your PPC Bids with Bid Management Tools
So how do you manage PPC bids? You don’t have time to constantly be monitoring every keyword in your various campaigns, and yet tracking and adjusting your PPC keyword bids is essential. Sure, you could hire a full-time PPC manager is one option, or you could outsource to a professional PPC bid management service, but these options can both get quite pricey.
WordStream Advisor software comes with built-in PPC bid management tools, our Keyword Bid Optimizer, along with other PPC management tools to help you create, optimize and manage your PPC campaigns. WordStream Advisor is designed to save you time and money. The software’s 20 Minute Work Week alerts you to actions you can quickly take to optimize and save money, such as PPC bid adjustments.
You can optimize keyword bids quickly and easily with our automated PPC bid management tool. WordStream's automation bidding software takes care of the tedious aspects of PPC keyword bid management while making intelligent bid recommendation, but ultimately leaves the decisions up to you.
While our PPC bid management system has a powerful impact on lowering costs and improving return on investment, it's still useful to keep an eye on your account's maximum and minimum bids. We suggest some PPC bid management strategy advice below.
Understanding CPC Bid and Quality Score
What determines your ad position in AdWords is a formula Google uses:
Ad Rank = CPC bid × Quality Score
- CPC bid refers to the maximum bid you designate that you're willing to pay for a given keyword.
- Quality Score is the grade Google gives your ad, based on a "keyword's click-through rate (CTR) on Google, the relevance of the keyword and ad to the search term, your account's historical performance, and other relevance factors".
“A minimum cost-per-click (CPC) bid is assigned to each keyword in your account based on its quality (or Quality Score). The minimum bid is usually the lowest amount you can pay per click in order for your keyword to show ads."
Luckily, search engines like Google reward search marketers who group their keywords. When your ad groups are closely related, your ads are more relevant to the keywords you're focusing your PPC bids on, which in turn lowers your minimum first-page bid and CPC. Since you're getting more qualified clicks, you're making the search engines more money, and they reward you by increasing your Quality Score.
PPC Bid Management Strategy: Manual Bid Management
Optimizing your keyword bids manually requires trial, error, and time.
Advertisers can slowly increase or decrease their maximum CPC bids and carefully monitor the results: when ROI plateaus or decreases, then the bid has reached its optimal point for that day. Simultaneously, advertisers should be managing bids with the goal of improving Quality Score.
The problem is that it can often be difficult to identify keywords with potential. As an advertiser, you need to be willing to risk a certain amount on a promising keyword, but also knowing when to give up on a keyword that just isn't performing well. This is why trial, error, and time make up so much of the bid management process, and why manual bid management is so time intensive.
PPC Bid Management Tool Strategy: Quality Score and AdWords
The most effective form of PPC bid management isn't raising and lowering your maximum bid, but rather pushing down your minimum, or “first page” bid, which you do by strategically and effectively grouping and organizing your keywords.
At WordStream, we understand the importance Quality Score and are dedicated to helping customers with PPC bid management, assisting them so that they bid on their most valuable keywords and get the best ad positioning for the least amount of spend.
WordStream Advisor Software offers keyword grouping and organization tools to help raise your Quality Score, as well as keyword discovery tools, PPC bid management tools, and much more. Let us help you find those keywords with the greatest potential for your business.
PPC Bidding Help from WordStream
Find out why advertisers love our PPC Bid Management Tool – try it for free today!
Our software and services help businesses and agencies take the guesswork out of pay-per-click advertising so you get more from your marketing budget.