What’s The True Cost?
Here’s the formula for the keyword bidding process in AdWords; QS + your Bid = What you Pay. But there is still an unknown element. Part of that unknown is in the quality score. As we don’t exactly know how Google calculates your score. Another aspect, that is more complex than it may initially appear, is the bid itself.
Bid Modifiers, Oh My!
One way that AdWords bidding cost is obscured is self-inflicted. We complicate them ourselves by adding bid modifiers for time, location, device, or any other variable. These modifiers can make it difficult to work out what we’re actually bidding for a keyword. While you can see a CPC on the page, you will need to mentally remember that you’ve added a bid adjustment of +15% for mobile devices, -45% for Texas and +35% for between 9am and 5pm.
Let’s look at an example. In one of our accounts, we saw an average of $1 difference from what we saw in the “Max CPC” column on AdWords, compared to what the actual max CPC bid is including mid modifiers. While this might sound small, if you have 200 keywords in an account, that’s a possible extra $200 a day. The numbers quickly add up.
Read the Script and Control Your AdWords Bidding
So, how do you find out what your real maximum CPC bid is? Frederick Vallaeys (former AdWords Evangelist at Google and co-founder of Optimizr) shared a script via a Search Engine Land (SEL) post. A script is a piece of code that will automatically do something to your AdWords account. If you’re a bit technical, you’ll love that data is pulled from you account and placed in a Google Drive spreadsheet.
Adding a script sounds complicated, but it’s actually pretty simple. To add a script, first open the account in AdWords. Then navigate to the ‘Bulk operations’ tab on the bottom left. Next click on Scripts, then click on the red +Script button. You will then see a window like this:
- At which point you copy Fred’s code from SEL
- Give the script a name
- Then, go to your Google drive to check the report and you can see what you’re spending
How are you monitoring your AdWords bidding?
How can we help?
Are you struggling to get a grip on your AdWords bidding? Do you need more control on your account to manage ROI?
We are Spectrum Group Online, and we offer strategic and tactical consulting so you can monetize your online presence. Call us for a complimentary 30-minute consultation to discuss your website’s user experience and translate that into sales.
Photo credit – Top: Wikiepedia