Learn These Bid Management Techniques Based On ROI For Surprising Results
If you are an E-Commerce advertiser and struggling with the bid management, you should need to learn some good techniques to Boost Your ROI. Advertisers usually failed to deal with areas like overpaying for a keyword, how to increase profits for top-performing keywords, interpreting conversion data wisely, etc. There are many PPC Services in Miami, that helps you to deal with it.
Online business is much better than offline business because online businesses can easily integrate their sales revenue figures with AdWords. It is therefore very important to use the right bid management strategy because not all keywords give you the same return.
We are giving you some working techniques of Bid management based on ROI for E-commerce websites.
Set Up Revenue And Conversion Tracking In AdWords
Most of the online stores lack behind in tracking the exact conversion of revenue. If you really want to know where your sales and profits are generated, you must keep the tracking of sales, expenses incurred for sales, and the revenue so achieved. Hence, According to top PPC services, Miami, setting up revenue and conversion tracking in AdWords is the first and foremost thing you should do.
Option 1: When all The Products Have The Same Price & No Up-Sells
This is the case applicable when all the sales products are of the same value and there is nothing that increases the total sales value. In AdWords, you should choose the relevant option and enter the value.
Option 2: Different Products Have Varied Price + Up-Sells
Option 1 is a rare case. This is a frequent case where you can’t simply play the game with a single value. In this case, you have to select another option, where you can put the variable value.
Conversion rates are usually set to track from 30 days to 90 days. For the sales cycle with longer tenure is helped by this system.
Understand The Profit Margin
To set up the bid based on ROI, it is important that you should know the amount of profit margin you earn. Upon research, it has been found that a lot of advertisers are there who do not know the profit margin. It has to be ensured that you being an advertiser should know the profit for each product you sell.
To calculate the profit individually on each product, you should also get to know how many conversions take place offline. To find out the true ROI, it is crucial to incorporate the profits earned through offline sales or products sold over the phone.
Start Optimizing The Bid Based on ROI
In the above two points, you already know the revenue and conversion tracking with you. Here, if your AdWords account is well-structured, things will be faster and easier. You may also restructure your segments. Then, you have to make calculations of CPC, with the help of data of profit per product sale and corresponding conversion rate, to make sure that you are not bidding higher than the financial limitations