Adjusting Bids to Maximize Profits: Google Best Practices
Maximizing profit should be the performance goal of every AdWords account. Here are 4 steps to effectively manage your bids and maximize profits from your account.
1. Four steps to profit driven bidding in AdWords
- Define a formula that calculates total profits from AdWords.
Why: You need a formula to measure and optimize for profit in AdWords.
Get started: See Leading a Conversation on Profits: A Practitioner’s Guide to learn how to define profit.
- Run a broad-scale manual bid test.
Why: Get an edge in the auction by finding profitable bid opportunities faster than others can.
Get started: Test a bid increase to see the impact on your profit.
- Evaluate results and measure your profit.
Why: Identify areas for improvement as you analyze results.
- Use automation to adjust your bids.
Why: Free up your time so that you can focus on other strategic priorities.
Get started: Use an automated bid strategy that leads to long-term profits.
2. Concerns and considerations
As you make a bid for higher profits, some questions and concerns may come up. In this section, we’ll look at some common concerns and show you how to address them.