BREAKING NEWS: Google Launches FREE Bid Management Technology (BETA)
GOOGLE LAUNCHES FREE BID MANAGEMENT TECHNOLOGY (BETA)
As a leading SEM agency, Pepperjam has the luxury of being one of the first to test Google’s new technologies. We were absolutely stunned (although not entirely surprised) to find out that Google is slowly testing FREE Bid Management Technology within select Google Adwords accounts.
According to the information we have been given so far by Google, here is what the technology will do:
The technology is called Conversion Optimizer – Google claims that its main goal is to help advertisers save time and minimize conversion costs.
According to Google, the Conversion Optimizer lets you specify a maximum cost-per-acquisition (CPA) bid for each ad group. Then, this feature continually adjusts your CPC bids to keep your conversion costs under your maximum CPA bid, showing your ads only when you’re likely to get conversions. By using the Conversion Optimizer, you can save time while minimizing your conversion costs.
I don’t know about you but this sounds a lot like technology that already exists, but for a STEAP, recurring fee. Companies like Atlas One Point (a Microsoft / Aquantive company), Omniture (NASDAQ – OMTR), DoubleClick DART (Pepperjam’s exclusive partner), and Efficient Frontier, among others, offer this kind of technology, usually to agencies and the largest of advertisers. The access fee, per advertiser, can be thousands of dollars per month.
What does this potentially mean for bid management providers like the ones mentioned above? I think is spells serious trouble, especially if Google’s goal (which we assume it is) is to provide the technology for FREE TO ALL GOOGLE ADWORDS ADVERTISERS.
Once Google begins to open up the technology to more and more Adwords advertisers will there even be a need to pay for bid management technology from Atlas and others?
I’ll let you be the judge on that.
What are your thoughts?
In my opinion, this is could completely equalize the playing field for small and large advertisers as it relates to bid management technology access. Smaller advertisers will be able to run their businesses more efficiently and compete on a larger scale based on ROI, instead of advertising budget.
Get more information on the Google Adwords Conversion Optimizer HERE.
September 26th, 2007 at 1:06 pm
Hi Kris,
This is GREAT NEWS! I’ve looked into bid management tools for my business in the past and just could not justify the paying $3k a month.
I just checked my Google account and it turns out I’m also a beta tester for campaign optimizer! Please tell me how your initial testing goes with this tool.
I will be sure to post about it.
Sincerely,
Amit
September 26th, 2007 at 4:07 pm
I’m pretty sure this open to everyone as long as your campaign (not account) has had at least 300 conversion in the past 30 days. I’ve seen it announced in every account I’ve checked.
I’m started a test a few days back – results are less than appealing at this point. Conversions down & costs are up.
Jeremy
September 26th, 2007 at 5:59 pm
[...] Google’s BETA Bid Management By Stephanie http://forums.searchenginewatch.com/showthread.php?t=19715I read on the pepperjam blog that Google now has a Bid Management Technology available in beta for selected publishers. I have an AdWords account which I use rather lightly, so of course I went to take a look, just on the off chance I, a very minor advertiser, would be included. [...]
October 6th, 2007 at 10:39 am
Chris,
This awesome but when I had a chat with you @ the last ASE you said that your team still promotes a lot on CJ. How the heck are you tracking conversions within adwords for those accounts?
October 6th, 2007 at 10:40 am
ummm. replace that CH above with a K… MY BAD
May 19th, 2008 at 5:29 pm
Should’ve commented long ago.
I had a chance to check this out too. For the price, you can’t beat it. Its not quite the ideal tool or interface. It still relies heavily on some very primitive ‘Google’ style engineering. Having said that, and all things being equal, its something in the right direction.
I disagree, however, on one thing. I’ve thought about this long and hard. I think Google’s goal is not to bully the market by offering a free tool. I continuously feel as though they are trying to carve a path for people with little access to the high priced tools into an understanding of certain facets of the world of online marketing that provides them with confidence, understanding and opportunity going forward. The end result is that we all share an affinity for Google and THAT feeds their popularity.
The same is true, or at least this theory fits, with Google Analytics as well. In functionality, its current release can not seek to encrouch the heights that Omniture SiteCatalyst(Discover), WebTrends, or Coremetrics continue to soar into. However, its the most popular analytics tool because:
1. Its FREE
2. Its Easy to install and learn
3. It DOES provide valuable insight
4. It continues to mature due to heavy user participation in feedback forums and sessions
Anyway, you get the point….
Hey…safe trip back to the States and lets get some Revello’s and talk business when I get to Scranton this summer.
Sincerely,
Daniel W. Shields
Chief Analyst/Founder
Wicked Business Sciences
Boca Raton, FL 33486
Mobile: 561-289-1239
Office: 561-237-5152
June 10th, 2009 at 6:20 am
Interesting post, keep the good stuff coming, good content appreciated!