Depending on your industry, you might have millions of keywords to manage. A travel company, for instance, could have 8,000 relevant keywords. But be honest, how many can you really manage bidding for if you’re doing it manually? Thousands, maybe?
I’m sure you’re doing your best, but without automated bidding, your company is leaving money on the table and is at risk of losing business to competitors who are using a bid automation platform.
Need some proof? Here’s why manual bidding doesn’t pass muster these days:
Markets are dynamic
You know how quickly the market can shift. If you’re checking bids manually every two weeks, every week, or even daily you might not notice that a new competitor spent a lot of money to grab a significant number of impressions and customers from you. Automated bidding will adjust bids so that you stay ahead of your competitors.
Lower priority brands fall off the radar
It takes a lot of time and effort to manually bid on keywords, so you probably focus most of your time on your major brands, products, or offers. What about your long-tail keywords? They’re prime targets for competitors, especially if you’ve got your focus somewhere else. The next thing you know, conversions are way down, and you’re playing catch up.
Data science makes decisions smarter
Automated algorithms can take the huge volume and variety of data available today—time, geographies, device, browser, seasonality, weather, and more—and apply analysis and thousands of calculations to derive optimal bid values. With automated bidding, you take the guesswork out of the bidding process for greater profit. These types of in-depth analyses take hours to perform on your own, but a machine-learning algorithm can automate them and optimize bidding every day using granular, up-to-date data.
You’re not perfect
People make mistakes. Maybe you uploaded a bid for 0.1 instead of .01. Automated bidding removes the potential for human error. Plus it reduces potential wasted dollars if you’re frequently bidding with extra “headroom” because you don’t have time to monitor and manage all your bids.
You have better things to do
If manual bidding takes up all your time, you don’t have the time you need to test new ad copy or optimize landing pages. Automated bidding can adjust bids constantly, making thousands of changes across thousands of ad groups and campaigns to get the most clicks and conversions at the lowest CPC. Meanwhile, you’re able to experiment and optimize.
Wouldn’t you rather spend your time focusing on more strategic activities while automation handles all the moving parts of the bidding process? Yeah, that’s what we thought.
About the Author
Karl Salomon is an Account Manager at QuanticMind. Before QuanticMind, Karl fine-tuned his Search and customer acquisition skills in the advertising agency world. With marketing experience in education, finance, travel, and software, Karl uses his learnings to identify and solve toughest challenges of QuanticMind’s clients. Using data and clear communication, Karl leverages his experience in strategic planning, customer valuation, and performance reporting to help his clients meet and exceed their success goals. Karl earned his Bachelor's Degrees in Economics and Legal Studies at University of Massachusetts, Amherst and his Master of Business Administration from Texas A&M University.More Content by Karl Salomon