Nothing is more aggravating than having your best terms pirated by rivals.
The holiday season is specifically susceptible to this, as brands rush to own market share.
This month’s question hits particularly tough going into the holiday. Rakesh from Virudhunagar asks:
“I have a concern regarding the same keyword the bigger brand names and I utilize. As a Product company, I utilize a generic keyword “Present for her/him.” As the vacations are coming, I can see that the CPC is increasing (Target ROAS– BS) for these keywords.
On the Auction insights, it’s not my rivals outbidding me, but it’s Etsy and Amazon. My CPC increased by 200%– WoW. What is the best way to deal with this? Handbook Bidding? or any other bidding technique would work?”
We’ll be tackling this from a Google Ads viewpoint, however, a lot of these methods apply to Microsoft Ads as well.
Suggestion 1: Usage Keyword Variations
The most straightforward method to bypass costly auctions is to utilize different keywords.
Misspellings and synonyms will offer you access to the same search terms. If huge brands are driving up the auction prices for the most common versions, think about opting for the less typical ones.
For instance, if the expensive term was “present got her/him,” you may think about the following:
- Gifts for her/him.
- Provides 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 testing, pause the original keyword.
By pausing it, you’ll have the ability to keep your information and go back to it if the new version does not work.
Tip 2: Change Your Bidding Strategy
Automated and smart bidding have lots of benefits.
That said, it’s very easy for cost per clicks (CPCs) to spike based on the bidding goal.
Conversion-based bidding methods are the most vulnerable to spikes since conversions have a great deal of weight.
Using a bidding method that caps your bid is the most simple way to guarantee your budget plan will not go out of control.
That stated, if your quote cap is too low, you may kill volume.
So long as your quote cap is 10% or less than your daily spending plan, you must have the ability to get enough clicks in your day to cause sales (supplied that your bid-to-budget ratios are aligned with your industry).
Tip 3: Usage Audience Exclusions/Targets
Audiences are typically ignored in the auction price discussion.
While it holds true audiences are constructed into clever bidding, they can be utilized to leave out or specifically target too.
Consider using native audiences like in-market and affinity to leave out folks who will not be a great fit for your products/services.
You can also utilize first-party audiences, like consumer match and website visitors, to focus your budget towards warm prospects or save on folks already acquainted with you.
Huge brand names will constantly be a variable in auction costs.
However, you don’t require to get sucked into a bidding war.
Going after more affordable variations, finagling bidding, and utilizing audiences to focus the spending plan will assist open up more affordable auctions to enhance roi (ROI).
Have a concern about PPC? Send via this kind or tweet me @navahf with the #AskPPC hashtag. See you next month!
Included Image: Paulo Bobita/Best SMM Panel