Absolutely nothing is more frustrating than having your best terms pirated by competitors.
The holiday season is especially susceptible to this, as brand names rush to own market share.
This month’s concern strikes specifically tough entering into the holiday. Rakesh from Virudhunagar asks:
“I have a concern relating to the same keyword the larger brands and I utilize. As a Merchandise company, I use 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? Handbook Bidding? or any other bidding technique would work?”
We’ll be tackling this from a Google Ads standpoint, nevertheless, a lot of these methods apply to Microsoft Advertisements as well.
Suggestion 1: Use Keyword Variations
The most simple method to bypass expensive auctions is to use different keywords.
Misspellings and synonyms will give you access to the exact same search terms. If big brands are increasing the auction costs for the most typical variants, consider opting for the less common ones.
For instance, if the costly term was “gift got her/him,” you might consider the following:
- Presents for her/him.
- Presents for her/him.
- Gifting for her/him.
- Present for her/him.
- Gifts for him/her.
Test one at a time on the match type you had the original keyword on.
While you’re testing, pause the initial keyword.
By pausing it, you’ll have the ability to retain your data and go back to it if the new version does not work.
Idea 2: Adjust Your Bidding Method
Automated and smart bidding have lots of benefits.
That stated, it’s very easy for cost per clicks (CPCs) to spike based upon the bidding objective.
Conversion-based bidding strategies are the most vulnerable to spikes since conversions have a lot of weight.
Utilizing a bidding technique that caps your quote is the most straightforward way to guarantee your budget plan will not go out of control.
That stated, if your bid cap is too low, you may eliminate volume.
So long as your bid cap is 10% or less than your day-to-day budget, you should be able to get enough clicks in your day to cause sales (provided that your bid-to-budget ratios are lined up with your market).
Pointer 3: Use Audience Exclusions/Targets
Audiences are often neglected in the auction price conversation.
While it’s true audiences are constructed into smart bidding, they can be used to leave out or solely target too.
Consider using native audiences like in-market and affinity to exclude folks who will not be a great suitable 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 minimize folks already familiar with you.
Big brand names will always be a variable in auction rates.
However, you do not require to get drawn into a bidding war.
Pursuing less expensive variants, finagling bidding, and utilizing audiences to focus the budget plan will assist open less expensive auctions to enhance return on investment (ROI).
Have a question about pay per click? Submit via this form or tweet me @navahf with the #AskPPC hashtag. See you next month!
Included Image: Paulo Bobita/Best SMM Panel