2) A guide to modern bid management

You’ve probably faced a situation when you bid as high as it made sense to generate profit from advertising, but your competitors constantly appeared in higher positions.

What allows them to not waste money on low-quality clicks (leaving them to you) and to bid higher than you for clicks that are likely to generate a sale (taking your sales away)?
Those who automate bid management in the right way take sales away from those who are still manually hacking their way to ad success.

However, automated bid management is not easy. If done wrong, the system:

  • Wastes your budget on cheap but low-converting clicks
  • Drives extremely expensive clicks, which convert just as likely as your clicks under a “normal” CPC, leaving you with losses
  • Reduces traffic by so much that you barely observe a few conversions a day
  • Ignores budget restrictions

These situations have led plenty of specialists to conclude that automated bidding may work only for accounts with a high volume of sales. Or, that automated bidding is still raw and inefficient.

This lesson provides you with exact rules, threshold values, conversion events, and best practices to take advantage of automated bidding and to take your sales back from your competitors.

Yes, it’s almost like a “set it and forget it” approach. You can use it to focus on things that you can do better than a machine. And that includes crafting better-performing ads. Learn more about this in the next module.

 

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