Nothing is more discouraging than having your best terms hijacked by rivals.
The holiday season is specifically prone to this, as brand names scramble to own market share.
This month’s concern hits specifically hard entering into the holiday season. Rakesh from Virudhunagar asks:
“I have a question relating to the same keyword the larger brands and I use. As a Product company, I utilize a generic keyword “Gift for her/him.” As the holidays are coming, I can see that the CPC is increasing (Target ROAS– BS) for these keywords.
On the Auction insights, it’s not my competitors outbidding me, however it’s Etsy and Amazon. My CPC increased by 200%– WoW. What is the best method to handle this? Manual Bidding? or any other bidding strategy would work?”
We’ll be tackling this from a Google Advertisements viewpoint, however, a number of these strategies apply to Microsoft Advertisements too.
Pointer 1: Usage Keyword Versions
The most uncomplicated method to bypass expensive auctions is to utilize different keywords.
Misspellings and synonyms will provide you access to the same search terms. If huge brands are driving up the auction costs for the most common versions, consider choosing the less typical ones.
For example, if the pricey term was “gift got her/him,” you may think about the following:
- Gifts for her/him.
- Presents for her/him.
- Gifting for her/him.
- Present for her/him.
- Presents for him/her.
Test one at a time on the match type you had the initial keyword on.
While you’re checking, stop briefly the initial keyword.
By pausing it, you’ll have the ability to keep your data and return to it if the brand-new variant doesn’t work.
Tip 2: Adjust Your Bidding Method
Automated and clever bidding have lots of benefits.
That stated, it’s very easy for expense per clicks (CPCs) to spike based on the bidding objective.
Conversion-based bidding methods are the most vulnerable to spikes due to the fact that conversions have a great deal of weight.
Using a bidding strategy that caps your bid is the most simple method to ensure your budget won’t go out of control.
That said, if your quote cap is too low, you may eliminate volume.
So long as your quote cap is 10% or less than your daily budget, you need to be able to get sufficient clicks in your day to lead to sales (offered that your bid-to-budget ratios are lined up with your market).
Suggestion 3: Use Audience Exclusions/Targets
Audiences are often ignored in the auction rate discussion.
While it holds true audiences are built into wise bidding, they can be used to exclude or solely target also.
Think about using native audiences like in-market and affinity to omit folks who won’t be a good fit for your products/services.
You can also use first-party audiences, like customer match and site visitors, to focus your spending plan towards warm prospects or save money on folks currently familiar with you.
Big brands will always be a variable in auction rates.
Nevertheless, you do not require to get sucked into a bidding war.
Going after more affordable variations, finagling bidding, and using audiences to focus the budget will help open cheaper auctions to improve return on investment (ROI).
Have a concern about pay per click? Submit through this type or tweet me @navahf with the #AskPPC hashtag. See you next month!
Featured Image: Paulo Bobita/Best SMM Panel