Today's Marketing strategy and Multi-Location Marketing need an automated Bid Management tool that is created to simplify your maintenance and analyze data, generate smart bids between millions of keywords. With this tool, search marketers can accomplish specific business goals, increase return on investment, spend less time managing their keyword bids, and simplify systems and processes across multiple campaigns.
You have goals and objectives for the business growth and you can implement them into the tool. So how the logic of a tool works. It uses its AI or its automation to reach out the best results possible from Google Ads for your objective and goals. It’s a simplified way of optimizing and is very useful when you’re running a big business with multiple clients.
You would not need Bid Management Software if you manage smaller stuff. And it would be overly costly for you.
What are the advantages and disadvantages of Bid Marketing Software?
Advantages
Less time on reporting:
The tool does the work for you, it's fully automated and you have to spend less time on reporting and optimization.
Automatic budget management
This is a very important part of digital marketing as incorrect planning within the framework of that budget or any mistake in the process may cause a big loss and a hole in the budget. While the Bill Management tool controls your budget This helps to keep spending within monthly thresholds. So it will do that first and alleviate risk around overspends.
Data analysis
The bid optimization tool gathers and analyzes data on keywords, including historical performance, seasonality, and offline events like call tracking or in-store purchases.
Strengthens bidding strategies
Some enhanced bidding strategies may not be available in the standard PPC advertising .– for example, target CPA, position-based, quality score, and so on.
CPC bid is the maximum bid you are willing to pay for a chosen keyword.
Quality Score is the degree of the quality and relevance of both your keywords and PPC ads that Google gives you. It is used to indicate your cost per click (CPC) and multiplied by your maximum bid to determine your ad rank in the ad auction process.
Visualization
Bid Management Tool offers you some very nice graphs and it is quite good for high-level reports that you can send to your stakeholders. Visualization plays a crucial role in the reports making them more impressive.
Whitelabel reporting and branding
This function allows you to add your company logo, your client logo, or anything else requested to your report. So you are branding it for the Customers and Clients.
Disadvantages
Yes, It is expensive
Requires training
If you don’t implement the tool correctly, it can have harmful results.
Requires accurate implementation
Correct implementation of the tool is crucial. Otherwise, you will have poor performance of your marketing strategy.
What are the key points while choosing the right tool
Cost
The most important thing in planning a budget
Ease of use
how flexible and reliable is the app
Integrations
Does it work with Google Analytics? Maybe there are email integrations or other platforms like Twitter, Facebook, etc.?
Management options
What are the bid and budget management options available to you? Do you want to reduce time on budgeting or optimization at keyword level or reporting?
AI possibilities
AI is essential to all of these functions because as machine learning builds more and more we need to understand what are AI possibilities offered. There is an AI engine or a lookback engine?
Good data
You have a bidding algorithm that fixes a certain cost-per-acquisition (CPA) target but what the CPA was yesterday. You can’t update your bids without having an understanding of what you did yesterday and the impact on it. So you need a good platform that can provide information on the costs per conversion that happens hourly and it will determine the exact bid elements that will work for you today.
Final points
Automated Bid Management is built to impact a company’s profitability. The key point of using automated Bid Management is to earn more and lose less. It's not only about saving money, but also saving time and giving more opportunity to invest ideas into a business. Save your time and keep the growth of your business.
