You want to optimize your Google Ads account & control it automatically? Then you should take a look at Bid Management & our Bid Management Tool BiddingLab.
What exactly Bid Management is and how such a tool works, we explain here!
What is bid management? A definition.
Generally, bid management refers to the automatic control and optimization of bids in search engine marketing (SEA). It aims to control bids in Google Ads as efficiently as possible and thus make optimal use of the advertising budget. Bid management tools such as BiddingLab are used for this purpose. These tools can control Google Ads campaigns fully automatically. Thus, SEA managers no longer have to manually check each keyword and adjust the individual bids. This is done by the bid management software.
The benefits of bid management: Why do you need bid management tools?
Basically, bid management tools offer two benefits: Time savings and better performance. With a bid management software, a SEA manager no longer has to check each keyword and control the bids manually. The tool takes care of this and so the employee saves a lot of time. The employee can concentrate on the development of the SEA strategy. The detailed, time-consuming adjustment of bids is no longer necessary.
The bottom line is that a bid management tool like BiddingLab also ensures better performance of Google Ads campaigns. BiddingLab optimizes 24 hours a day in real time with AI support – obviously, no human employee can do that.
Bid management tools simplify your Google Ads activities immensely: They ensure optimal performance with minimal effort. You can have your campaigns controlled up to 100% automatically and therefore concentrate on other things.
How does bid management work?
You like the idea of bid management at first glance, and the advantages are convincing – but how does it actually work? How does a bid management tool work? How can BiddingLab control bids automatically?
In general, it’s quite simple: BiddingLab analyzes your campaign history and previous conversion data and determines the optimal bid for each keyword using a machine learning algorithm. BiddingLab evaluates the performance of each keyword and prioritizes them. Keywords that are more successful are allocated more budget than less successful keywords. If you want to know more about this – we have written a separate blog post about BiddingLab Reactor. Here you can find a more detailed explanation of how BiddingLab works.
BiddingLab can optimize for different advertising goals: A specific target ROAS (Return on Ad Spend) or a specific target CPA (Cost per Action). We have explained both bidding strategies in more detail in a separate article: ROAS vs. CPA.
For whom is bid management suitable?
In general, BiddingLab is suitable for all search and shopping campaigns. It is important that conversion tracking is set up. This is a necessary condition for the bidder to be able to work. If you select the bidding strategy “Target ROAS”, a tracking of the conversion values must also be set up. With the bidding strategy “Target CPA”, on the other hand, this is not necessary.
If you want to learn more about bid management, then our articles Google Ads Automation – Is predictive bidding the end of the line? or Google Smart Bidding vs External Bidding Solutions might be something for you.
Do you still have questions? Our experienced SEA team will be happy to help you. Just send us a message or give us a call!