innovation in bidding
DESCRIPTION
The usual performance metric that most Paid Search professionals would do bid optimisation against is CPA or ROAS. I explore other different metrics that could be used that would still really help drive a better performance than one would usually see. It looks at ways not just to drive revenue growth but also improve cost efficiency.TRANSCRIPT
Innovation in BiddingAnu Adegbola
PPC Account Manager – element14
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About Me
@ansiclesuk.linkedin.com/in/anuadeola/
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The AgendaBidding on
Margin
Dynamic Campaign
Last Click Bidding
e14/e14 Bidding
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element14
• A British distributor of technology products and solutions for electronic system design, maintenance and repair
• Trading done throughout Europe, North America and Asia Pacific with operations in 24 countries and trading in over 100
• Over a million product SKUs across each market
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e14 Bidding World
• Bidding on Margin – bidding according to margin of each product
• Last Click Bidding – bidding according to just the last keywords that contributed to final conversion
• Dynamic Campaigns – full and almost immediate coverage of all in stock products
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Bidding on Margin - Test
• Decide which part of the account the test will be implemented on
• Determine what profit level should be
• Activate profit targeting
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Bidding on Margin - Results
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Bidding on Margin - Results
• #poundsigneyes
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Bidding on Margin - Conclusion
• Very good cost saving strategy
• Very good for small budgets, or trends where market volume drops and you still want to maintain YoY growth
• Can take a few weeks for definitive trends to start forming
• Depends on business goals (e.g. Amazon running at a loss makes sense so BoM doesn’t)
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Last Click Bidding - Test
• Ensured that the last keyword that contributed to the conversion is the only keywords that bid increases are made on (instead of any keyword that contributed to any conversion).
• Applied this to one main high volume category – Generic
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Last Click Bidding - Results
• Measured on SKU (specific product page) category. CPC dropped with improvements in CR and return on ad spend (ROAS).
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ROAS CPC
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Last Click Vs. Any Click
• Last Click– Cost Saving
– Focus on one channel
– Clearer understanding of result of bidding
• Any click– Integrated
– Justify spend in areas that don’t seem to show direct profit/revenue
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Dynamic Campaigns (DC) – what is it
• Traditional way of creating campaigns – quite manual
• DC uses technology that is based on a template – creates campaigns and ad groups based on product feed
• Works with our feed – pauses ad groups of products that have been indicated to be out of stock
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Dynamic Campaigns
• Pros– Time saving! (25 hours per person – equivalent of hiring a new person!)
– With an efficient template set – there will be consistent granular ad groups
(meaning better Quality Score, Conversion Rate and ROAS)
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Dynamic Campaigns
• Cons– System is only as good as the feed
– Updating Google account according to feed can take a long time
(especially if company is sensitive to time of day bidding)
– Cost of tool
– Only limited on what is contained in product feed
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Summary
• Test, test, test – according to goals!
• Cost saving is a good thing (no matter what Google says)
• Bidding tests can take patience, but don’t lose track (monitor closely)
Thank you for listeningQuestions?
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