Before setting Bid Rules within the Bid Manager spreadsheet, you’ll want to first get a baseline for the types of spend thresholds for the date range you choose in the spreadsheet.
First, you’ll want to establish an “average”, baseline or benchmark – whatever you want to call it for a date range you want to manage bids within.
Keep in mind that this script makes changes to KEYWORD bids.
Take an example, if you create a bid rule that tells the script to reduce bids on keywords where converted clicks = 0 and CPA > $50, you’ll first want to ask yourself how many keywords actually fit this criteria for your given date range. If your date range is 30 days and a single individual keyword rarely spends more than $50 on average, the bid rule won’t do much good since it will rarely run. Therefore, you need to consider the date range you have set and establish a benchmark before coming up with your bid rules and strategy.
- Determine a CPA (Cost-Per-Acquisition) goal. Ex: $50.
- Choose a date range that contains individual keywords with spend that approaches or exceeds your CPA goal amount. Ex: 30 day, 60 day, 14 day – it will depend on your spend levels.
- Pull keyword report(s) for the past 3 – 6 periods using a date range interval equal to the date range you set in the spreadsheet. Ex: If I selected the “Last_30_Days” date range in my spreadsheet, I would recommend pulling a single report for the past 6 months with a time segment of monthly. This should give me a general idea of 30 day keyword performance. Once downloaded, sort by cost and see if keywords have cost > $50. Unfortunately, you can’t pull an Adwords report segmented by 14-day, 30 day or 60 day increments.
The take-away is, if cost on a given keyword is greater than your CPA goal for a date range equal to what you selected in the Google spreadsheet, this keyword’s Max CPC will be managed by your rules. Why is this? Because once you have spent over $50 (in this example), your keyword has either converted… or it hasn’t. Either way, the bid rule that defines the Cost Per Conversion threshold will DO SOMETHING to the keyword bid once it passes this marker – increase bids up or down based on its performance.
If you are installing this on a brand new account, you can use initial rules that align with your hopes for performance and modify later when you have more data.