Lots of conversation has revolved around Google’s new Bid Simulator tool. It debuted for testing purposes a while back, but is slowly rolling out to more and more accounts as time passes. A large account I work with just starting showing the tool earlier this week.
What is it? The new Bid Simulator tool is an attempt to help you make better bid management decisions in the future. It shows you the potential impression, click, and cost data you could have seen over the previous seven days if you had set different keyword-level bids. You should see the tool as an option for high volume keywords.
Where do I find it? You can simply click on the Keywords tab, and scroll through to find the Bid Simulator icon. (Some recommend sorting by Clicks to quickly find your keywords that offer the simulator.) The icon will appear to the immediate right of the keyword bid.
How do I use it? Your next step will be to click the Bid Simulator icon. If you click in the bid text box, you will also find a link to the Bid Simulator tool.
You will see a box pop-up where you will be able to select different bid levels and see how your data would have varied. The tool is to help you see where you missed out on impressions/clicks in the last seven days, and allows you to change and save the keyword-level bid right there in the simulator window.
Here are a few things to keep in mind while feeling out the new Bid Simulator tool:
Some think the tool will be very useful, but others are skeptical. Look for an upcoming analysis of the Bid Simulator from Tad Miller.
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