BID SMART NOT BIG - REMARKETING LIKE A BOSS!
So top generics suck, right?! They take up half of your click volume and cost the earth to compete! Before you know it you're out of budget and out of hope - so it's back to the safety of your brand terms and those teeny tiny CPC's. Well thanks, but no thanks!
The key to this headache is not to increase bids to annoy the competition, thus creating a price war in the threshold of pettiness that is the auction insights, but instead make use of what you already have:
Intent!
Intent to search, intent to click, intent to buy.
This is where remarketing swoops in to save the day. But not just any old money wasting remarketing that Google claims will solve the world's issues with their "Similar to All site visitors" nonsense. Remarketing with added intent; epic seed lists that know the customer better than they know themselves. Aka GA Audiences based on custom events targeting micro-moments within the customer journey
By breaking down the customer journey into key moments of data collection, this information can then be used to discover that customer's intention for their next visit to the site.
Now, of course, this is hugely dependant on your industry, product and customer, but you pick a point. Pick a point that shows the intent of the customer and their desire to buy, like a tell in poker. This point will give them away and open them to further targeting, allowing you to remarket them with an enormous amount of relevance leading to cheaper CPC's and CPA's along with huge conversion rates. And you've done this by simply providing the customer with what they want, when they want it, without them even realising they told you all of this information a week ago.
Ah yes, the point. The point, depending on the product, is that action the customer makes that differentiates them from the rest. It has separated them from that massive pool of click vollume coming through those high CPC's and stopped them using up your entire budget.
If it's Asos.com, it's the time spent in the dress department. If it's Ao.com, it's the number of washing machines compared. If it's Lovehoney.com, It's...um well... use your imagination.
My point is that age old observation made by every marketer to grace the advertising scene since Don Draper et al.:
No two customers are the same!
So why do we serve those 50,000 customers a week with the same ad, the same landing page and the same old ads that everyone else gets when we know 10,000 want a dress, 20,000 want jeans and the rest are just wasting our time!
These points can be translated into custom events in GA, dragged through to Adwords and, once they populate to >1000, add them into our top volume exact match on a 0% bid. Trial it for a week to note the conversion rate and impact, either bid up/down, or even separate that list into a new campaign on a target and bid strategy and reap the rewards with a big fat middle finger to Google and their money stealing tactics.
So go forth and segment... Or better yet, get in touch and we can help you achieve your goals!