More info on 'Paid Search Marketing - Budgeting And Bid Management'
Paid Search Marketing - Budgeting And Bid Management - E-consultancy, Dr Dave Chaffey, Chris Lake, E-consultancy, 2006
The main strategies which will help you manage budgets and bids for paid search are:
Strategy 1. Budgeting strategy
Budgeting strategy involves setting the right level of investment in paid search and allocation of this budget between the different paid search networks and the campaign components within the structure of the account.
In this section we look at setting the right overall level of investment in paid search and also in setting the right bidding or price levels for when your ads are clicked upon or displayed.
Strategy 2. Listing position strategy
Through targeting specific positions in the sponsored listings such as top 2 or 3-4 for specific phrases you can balance your click volume against your costs to make best use of your budget.
In this section, we will review different listing position strategies and how you can best achieve your target positions.
Strategy 3. Bidding strategies
Advertisers bid on specific key words to achieve the listing position that they want according to their Budgeting strategy and their Listing position strategy.
In this section we look at how to decide on the amount bid based on the value you are generating from paid search and how to deal with bidding wars.
Strategy 4. Dayparting strategy
Dayparting is a crucial aspect of paid search marketing for companies using paid search to drive transactions. Considerable variations in media consumption and user behaviour during the day is the reason why this is so important.
In this section we explain how to assess whether dayparting is worthwhile and also discuss approaches to dayparting.
Strategy 5. Bid management tool strategy
Bid management systems are almost essential for any organization that pays for tens of thousands of clicks each month across many keywords. Bid management tools are software or web based services which partially automate the management of paid search advertising across a range of paid search networks by applying rules to display ads for specific keyphrases at particular bids, positions and times to achieve specified business aims such as maximising ROAS, ROI, profitability, etc.
In this section, we review the advantages and disadvantages of bid management systems and introduce some of the most widely used bid management tools.
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