Down The Rabbit Hole - Optimizing Programmatic Campaigns
Read on for 8 tips that you can implement when analyzing the performance of your programmatic campaign.
We’re seeing a common theme develop over the last few months here at Hanapin. Clients are demanding more from us in terms of strategy and account growth. Furthermore, clients are citing our performance in these two areas as determining factors as to whether or not they’re happy with our services.
Many of our prospects as well are citing these very same reasons for moving on from their current agencies and consultants. Our prospects have also stated that they’re not terribly unhappy with the work their partners are doing. I’ve been consistently hearing statements from prospects such as “My agency isn’t bad, but I don’t think they can take me to the next level”. This tells me that as an industry, we’re focused too much on the tactical and not focusing enough on high-level strategy and being innovative enough when it comes to growing our client’s accounts.
We’re going to get into some concrete ways to demonstrate we’re thinking on a more strategic, growth-oriented level.
Being more strategic with our clients means we need to be more consultative in our approach. We need to position ourselves as an industry that solves business problems through the use of PPC instead of taking a purely tactical approach in our conversations. How do we go about doing this? Some of the things I’ve done to take a more consultative approach with my clients are:
When I present information to my clients, I guard against making business decisions on their behalf. What I do however, is through the presentation of pay per click performance and other insight data, provide a series of recommendations our clients can implement to improve their businesses through the further allocation of spend towards PPC. I believe we strengthen our client relationships and retain them for longer periods of time when we’re perceived as trusted business advisers as opposed to being seen as ‘the lever pullers’.
Clients are happiest when we’re finding innovative ways to grow their paid search programs. There are plenty of basic ways PPC marketers can grow accounts, such as uploading new keywords or combing the Google opportunities tab for ideas.
However, if we want to set ourselves apart and prove we’re seeking innovative ways to grow our clients’ businesses, we need to take a different approach. One way to do this is a bidding method Google calls ‘Profit Driven Bidding.’
Historically, I haven’t looked at bidding as a strategic way of improving overall performance. I’ve instead looked at bidding in more tactical terms of adjusting individual bids to meet specific cost efficiency targets.
Profit driven bidding is a completely different way to think about your bid strategy. Bidding to maximize total profit helps you find that in between spot between achieving volume and efficiency. Bidding solely to achieve a CPA or ROI target inherently restrains volume. On the other hand, using a bidding strategy that rigidly focuses on volume can lead directly to unprofitability. Balancing both of these competing metrics is important to business success. What CEO or CMO wouldn’t want both top and bottom line growth?
In order to run a successful profit-bidding test and then scale it out, you’ll need to do a few things beforehand:
Now that I’ve discussed benefits of the bidding for profit test, here are some items to consider.
In short, for the test to work, you’ll need to increase your bids in order to drive more volume and ultimately profitability, but it has to fit with specific business needs and your comfort level with this level of aggressiveness.
For more information on Google’s profit bidding formula, click here.
I’ve been in paid search for a long time now and remember a time when the bar for client satisfaction was pretty low. All we had to do was show our tactical proficiency and everyone was happy. Now that paid search has evolved and more organizations are depending on it to drive a significant amount of business, we have to be more strategy and growth oriented. This is a significant, yet expected change.
As the industry matures and clients invest ever-increasing amounts of budget into PPC, the more it’s on us as professionals to provide guidance for our clients so they can make smart investments in paid search and achieve significant growth. Providing our clients sound business advice through the use of PPC and constantly finding opportunities for growth can go a long way towards retaining our clients for years to come.
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