Paid search marketing has rapidly become an effective way to get your web site to the highest position on major search engines. This process relies on how effectively you bid on your selected keywords, so the better you become at managing your bidding technique, the better off you’ll be. One way to simplify the bidding process is to invest in bid management software. Bid management software can automatically adjust your bids and positions on paid search engines. Selecting the Best Solution If you’re going to purchase bid management software, make sure to choose one that’s compatible with the paid search engines you work with. Each paid search engine has a list of compatible platforms available, so check with them before you buy. One of the most popular and effective bid management software platforms is Yahoo! Search Marketing’s (formerly Overture) Search Optimizer. It gives each of your keywords a set position it maintains every time you update your bids. If you want to be in the number two results position every time, the software automatically raises your bid to keep you there. You also can limit your bids to a certain price so as not to exceed your budget. For example, if you’re willing to pay :text,.50 for the number two slot, you’ll be number two until someone else pays :text,.51. While each program has its own competitive advantage, many of the bid management solutions are quite comparable. The trick is to pay attention to the slight variations because it is possible that one solution will provide more advantages for your specific needs. Managing the Program You have two options when it comes to implementing bid management software: you can either buy the program from a vendor – which is usually less expensive in the long run – or lease it as part of a monthly service from an Application Service Provider (ASP). ASPs offer help and provide assistance in addition to bid management. You pay a monthly fee, but your chances of mismanaging the program can be decreased. The Benefits of Bid Management Software
After you’ve decided how to implement bid management software, you’ll soon realize that it can help you run your paid search campaign. Some of the benefits include: - Automatically set “caps” on your bids. You can control how much you spend, and set the parameters to alert you when the cost of a desired spot exceeds your designated amount. Then you can decide whether to raise your bid or settle for a lower ranking.
- Gap management. This feature allows you to realize the most cost-effective rank within a specified range of ranks. The software scans the specified range of ranks — :text,.29 to :text,.50, for instance — and calculates the gaps between them. Once the largest gap is determined, the program will place your bid at the bottom of the largest gap giving you the highest rank available for the minimum increase in cost-per-click.
- Automatic error notification. Many bid management software platforms will spot broken links or let you know if your link is directing users to the wrong landing page. In addition to notifying you of the error, they also will automatically lower your bid for those specific links, ensuring that your money isn’t being spent in the wrong place.
Bid management software can simplify the keyword bidding process, enabling you to get the best results possible from your paid search campaign. It can help you minimize mistakes and ensure that you stay in the bidding range you want without exceeding your marketing budget
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