"Bid management" is often a central focus for PPC specialists and marketers tasked with running a paid search campaign. In reality, this can be an endless time sink involving many many hours spent manipulating bids, moving them up and down and then back up again, attempting to determine what maximum spend is "optimal" for which keywords. There are now automated solutions for this issue, and Google AdWords even offers a free bid manipulation tool that automatically measures and tracks conversions, then leverages that data to automatically set the most cost-effective maximum bids. Meanwhile the search engines won't allow your account to exceed the maximum daily budget you set.
What we're proposing, is that you spend less time raising and lowering what you're designating as the most you'll pay, and more time pushing downt the least you're able to pay. We'll attempt to outline a process for doing just that below.
Lowering the Cost of Pay-Per-Click Advertising
In order to lower your PPC costs, you should be focusing on the following:
- Lowering first page and minimum bids: The bids you should be focusing on optimizing are your minimum bids and the minimum you're able to pay to have your ad show on the first page of search results, and you should merely be looking to push these numbers down. If you create Quality Score friendly, relevant Ad Groups according to the methodology outlined in the previous task description, you'll be sure to lower minimum bids and improve ad positioning, thus truly optimizing your campaign's overall value.
- Finding the cheapest clicks: The easiest way to make really effective bids is to identify and act on market inefficiencies. This is precisely the function that WordStream performs better than any team of PPC specialists could hope to. WordStream automates the process of long tail keyword research. Traditional tools only return for you the keywords everyone else has access to. PPC ads are sold by a bidding system. Therefore, having unique keywords that no one else is bidding on is a powerful cost savings advantage over your competition.
- Taming the long tail - The PPC software and Keyword Discovery Tool finds terms and variations a human could never come up with on his own. It would require an army of dedicated workers, tirelessly slogging away to generate these automated, grouped keyword lists. With WordStream, a world of highly specific, low competition clicks are laid at your feet.
The following illustration depicts the "long tail", which runs off the page and continues on indefinitely:
Your Website is already generating invaluable information every day. By not allowing WordStream to catalog and transform this data into actionable insights, you're squandering an opportunity to stay one step ahead of your competitors, while drastically lowering costs.
learn more about lowering ppc costs
The above is an excerpt from the "Pay-Per-Click Search Engine Marketing Best Practices" whitepaper. To learn more about how to drive down your paid search costs through increased relevance, download the free whitepaper in its entirety today!