Bid Management Strategy for Bid Manager Script
Here are some ideas on strategy when using our Bid Manager script. Keep in mind that these are only a few approaches. You can deploy a strategy that manages specific keywords, manages by desired MAX CPA, one script per each each campaign, or multiple spreadsheet instances with different date ranges.
- Manage bids for high-volume, high-importance keywords based on average position, CPA, or match type. For example, you could run a keyword or search terms report, sort by Converted Clicks, determine your “best” keywords based on their quantity of conversions while taking into account their cost-per-acquisition relative to your goals. Then paste these keywords into the spreadsheet and let rules manage each keyword automatically based on your goals.
- Manage bids based on overarching goals. For example, say your CPA goal is $25.
- If Conversions > 0, CPA < $25, Avg. Position is worse than 4.1 – Increase bids with the strategy being to maximize quantity of conversions by getting more clicks in a higher position as long as we are under our CPA max of $25.
- If ad group name contains “My Brand” (an ad group that holds your branded keywords) and average position is worse than 2.0 – Increase bids with the strategy being to maintain a high average position for your branded keywords regardless of any other metric. This is often known as a “Brand Defense” strategy.
- If impressions = 0 – Increase bids with a max CPC limit of $X.XX with the strategy being there’s no point to have keywords in your account if they don’t get any traffic. Plus, these are usually longer-tail keywords.
- Have multiple spreadsheets managing one or multiple campaigns. For example, if you have a campaign that has different goals from another campaign, you don’t want to apply the same bid rules. That’s why you’d set up another instance of the script and spreadsheet to manage performance to those goals. As an idea, you could set up one script to manage one campaign and do this for each campaign in your account. You’d simply add the “Campaign” column in the spreadsheet and define the campaign name so the script knows to only make bid changes for that particular campaign.
- Have multiple spreadsheets with different date ranges managing the account. For example, if you think of performance based on 30-day, 60-day and 90-day performance, those are three windows of time you could use as your date range when making bid changes. Instead of choosing just one date range, why not choose all three and have three separate scripts monitoring performance over these three date ranges? I’ve implemented this strategy myself and have seen good results thus far. The overarching idea is that short-term performance (30-day) might not give you the full picture. At the same time, you don’t want to let poor performance slip on by. So one 30-day script would contain a “less aggressive” approach. A 60-day script would contain a more aggressive approach. A 90-day script would contain the most aggressive bid swings because at this time, usually you have more data to make decisions. Plus, since there’s three scripts, if a keyword had good performance in 1 period but poor performance in 2 periods, the bid increase from the good period will be undone by the 2 bid decreases by the 2 periods.