Bid management is key to the financial success of your online marketing campaign and centres around the keywords and key phrases you need, and the price you pay for them per click.
If you choose to handle your own PPC campaign, you will create an AdWords account, add your financial details and enter the anonymous bidding for your chosen keywords. You will then be allowed to use these keywords in your ad text and each time a customer clicks from your ad on the search results page to your website, you pay this cost per click (CPC).
This is the formula commonly used to show how CPC is calculated, where £0.01 represents a rounding up value to the nearest pence.
Actual CPC = (Ad Rank to beat ÷ Quality Score) + £0.01
Google's explanation of Ad Rank is that it is "... determined by your bid for that keyword or ad group multiplied by the matched keyword's quality score."
Ad Rank = keyword bid x matched keyword's quality score
Whether your business operates in a niche market or a broad and competitive one, your key words and phrases need to be focused on your goods and services. These are important:
- Getting the key words and phrases right
- Bidding successfully against your competitors for these key phrases
- Ensuring your landing page content is relevant
- Paying as low a cost per click (CPC) as possible to achieve a healthy return on your investment
It is possible, and common, for companies with a top position text advert listing to have paid much less for their CPC than the second and third positions. In extreme cases of poor paid advertising management, unsuspecting companies have lost excessive amounts of money because they did not monitor their accounts and did not understand the subtleties of the system.
This is because certain factors impact upon your bid advertising success, such as your website's quality score and constant updates to search engine algorithms.
Be A Successful Bid Advertising Winner With Adrac
We take these ever-changing criteria into account. While search engines like Google keep parts of their criteria shrouded in mystery, to keep their own business viable and competitive, Adrac's team has been working with these systems for so long that they have become like an old friend, ensuring we can always help you stay ahead.
Call us for a free bid advertising consultation today. There's a war to be won here!