A lot of people think they understand bidding, but bid modifiers are still a relatively unknown bidding option for many PPC marketers. So this session has the potential to bring a lot of people up to speed on it. Speakers for this session include:
Lauryan Feijen (@lauryanf) an Online Advertising Specialist from iProspect
Ian Lopuch (@ianlopuch), Vice President of Customer Acquisition from eHealth
Jay Stampfl (@3QDigital) the Account Director of 3Q Digital
Brad Geddes is the moderator. The session description says that:
You pay when users click on your search ads. But not all clicks are equal when calculating ROI. In this session, you’ll learn to maximize the return on your paid search campaigns by using modifiers that automatically change bids by various dimensions, such as time of day, geography, and device type.
Ian Lopuch, Vice President of Customer Acquisition from eHealth
Ian Lopuch is first – e-Health is about health insurance lead generation. He has 10 lessons learned to share:
Traditional CPA bidding is pretty bad
Not very optimized and it’s a competitive marketplace. It’s not efficient enough.
Doesn’t value anything. Attach rates and lifetime values aren’t taken into account.
CPL (Cost Per Lead) bidding is even worse
Not all leads are created equal – they don’t always close.
Even if you sell it’s still not very good in the long run.
Modern CPA and CPL-based bidding with aggressive feedback loops works
Use feedback to do bid multipliers on bids.
Use granular bid strategy.
Bid up and down on certain geographic areas based on performance.
Great account structure and segmentation makes your bidding excel
Solid account structure matters.
Segment where possible on: Geography, Network, Match Type, Keyword Theme, Device
Incorporate differences in conversion rates and back-end performance into bidding.
Revenue-based bidding is the future
Find a way to incorporate revenue down to the keyword level.
Also consider future projected revenue.
Buy a world-class bidding platform
The expense of bidding this way is prohibitive.
Think about the entire stack: search bidding cannot be a silo
You might not make money on the first click.
AdWords is very expensive – especially on insurance.
Integrate with e-mail and multi-channel marketing tactics like remarketing.
Search isn’t a standalone application anymore.
No sales yet? Leverage your data layer
Integrate with analytics.
Figure out attribution.
Give credit to shopping activity.
Search clicks provide some of the best value around
Search clicks are incredibly valuable.
Last click attribution is missing half the value of search and causes you to bid low.
Have a great attribution strategy in place to give value to assisted conversions.
Avoid competing with yourself
Coordinate with your business development and affiliate teams.
Internal campaigns are always better.
Partner channels can compete with you too.
Things can go wrong
Bid and budget changes create risk.
Have safety precautions in place and do testing and have rollback plans in place.
Jay Stampfl, Account Director at 3Q Digital
Jay Stampfl is next. His points:
Account structure is important. Do Query Mapping to get it straight. Pay attention to how your keywords are matching.
Auction Dynamics are a balance between scale and efficiency. There are dynamics between CTR and CPC.
There are a lot of changes with PLAs showing at the top of the search results now.
You can use auction insights to see what competitors are doing with their bidding changes.
Limited budgets are bad. Lower your CPC to get more clicks in the day.
The longer the wait on the conversio, the higher the value of the conversion in his experience. Revenue increases with time.
Use the compare function in AdWords to show you how performance changes over time and identify trends.
Conversion Optimizer works for Jay and 3Q. It used to be pretty bad though. It works better on high volume keywords.