When you have something to celebrate in 2020, it’s not that easy. That’s why the “party” for the 1st birthday of our bid management technology BiddingLab took place in a contemporary way within the framework of a video conference. Nevertheless, we did not let the mood be spoiled. We would like to take this opportunity to briefly review what has happened in the first year since our official market launch.
How old are you really?
It is not so easy to determine the exact birthday of BiddingLab. The tool was developed over 4 years ago and has been successfully used by our agency customers ever since. Thus, the technology for controlling Google Search & Shopping Ads had already reached a distinct market maturity before it was even available as a stand-alone tool. Just in time for DMEXCO in September 2019 our website went online and by October the first SEA teams had already started using our tool. So we can proudly say that BiddingLab is now 1 year old – at least.
What happened last year: A balance sheet
Our development within the last year was enormous. After we had quickly awakened a great deal of interest in our technology, we quickly built up a broad customer base from a wide range of industries: from online retailers to brands and service providers. With a rapidly growing customer base, it was clear after just a few weeks that we needed to rapidly develop our customer interface from a UX perspective. We also adapted our internal processes to the customer feedback and strengthened our support team. Although we knew exactly that BiddingLab was a powerful marketing tool, we did not expect such a fantastic start. We now manage both Google Ads accounts with rather small media budgets and a national focus, and accounts with an international marketing strategy and a correspondingly high level of spending.
And it is only just beginning: What is yet to come?
As the number of customers increases, the questions and customer wishes naturally become much more diverse. Every new challenge spurs us on to make BiddingLab even better. We are constantly developing our interface to provide customers with an even better overview and more control options for their advertising activities. We also have new strategies in the pipeline. In addition to classic performance marketing metrics, which always assess success and profitability in relation to revenue by cost (ROAS) or cost per action (CPA), new target measures are already planned, which focus more on absolute values such as revenue, sales and reach. Beta tests are also already underway for managing dynamic campaigns (DSA) and display campaigns.
In addition, we are preparing the relaunch of our website shortly after the turn of the year in order to provide all advertisers, from the managing director to the in-house SEA expert and the marketing agency, with the appropriate information and to further expand our customer and partner network. We believe that we are on the right track to establish BiddingLab as one of the best bidding algorithm tools in the medium term, even in international comparison.