This is so powerful that i feel the need to blog about it instantly.
For those who are new to the game, let me explain the background a bit.
If you manage a Pay per Click campaign on Google, two technologies that you need the most are:
- Tools that provide analytics report
- Tools that provide bid management activities
Analytics report will help you gain valuable insights into the performance of your campaign. You will be able to figure about which keyword brings you the most amount of traffic, which ad copy has the highest click through rate or which product got sold the most.
However, your analysis will only be useful if you can take some actions based on your analysis i.e. do some optimization work.
This is where Bid management tools come in. They can do some of the optimization work automatically based on the rules you set so that you can save time doing more effective work.
More importantly, they can do these automation around the clock no matter if you are asleep or going out with your boy friend/girl friend.
Traditionally technology providers like Omniture would provide both analytics tool and bid management tool for a FEE. However, right now Google Analytics would be powerful enough for the majority of advertisers.
Smaller technology providers would suffer heavily because of this move by Google i.e. offering bid management tool for FREE.
Of course some advanced bid management tool can provide not only analysis based on past data but do predictive work i.e. forecasting the future. These tools, however, are out of reach for the ordinary advertisers.
Ok enough background information, now back to the main topic. These automated rules can do wonder ONLY if user does some intelligent analysis first and then build up the rules RIGHT. It follow the same principle in software development GIGO i.e. garbage in garbage out.
Some simple applications of this innovation according to Google announcement:
- Change your daily budget on peak shopping days
- Modify your Max CPC bids based on CTR or conversion rates
- Enable ad text directing users to a promotional landing pages late on a Sunday night
The beauty of this tool is you can create rules on all Level i.e. Campaign level, Ad Group Level, Keyword level or ad text level, across all campaigns in the account or just one campaign/one ad group.
It’s going to be super interesting to see how smaller technologies provider will cope with this news, how agencies will leverage on this tool to provide better service to their clients.
P.S: for more information please refer to http://www.google.com/ads/innovations/automatedrules.html