Bid Management
- Services
- Bid Management
What is Bid Management
Bid management is the skill and science of deliberately establishing and modifying bids to win ad auctions and optimize return on investment (ROI) in the fast-paced world of internet advertising. It’s similar to having a seasoned auctioneer handle bids with skill to acquire the greatest prices for your advertising budget.
Bid Management Checklist
- Set Clear Campaign Goals and KPIs
- Understand Bid Strategies and Options
- Determine Bid Adjustment Factors (Location, Device, Time, etc.)
- Analyze Historical Data and Performance Metrics
- Set Initial Bids Based on Performance Goals
- Monitor Bid Performance Regularly
- Adjust Bids Based on Performance Trends
- Use Automated Bidding Strategies (if applicable)
- Implement Bid Adjustments for Targeting and Segmentation
- Monitor Competitor Bids and Market Trends
- Test Different Bid Strategies and Settings
- Monitor Keyword-Level Performance and Adjust Bids Accordingly
- Use Bid Management Tools and Software (if available)
- Analyze ROI and Adjust Bids to Maximize Profitability
- Set Up Bid Rules and Alerts for Automated Adjustments
- Consider Seasonal and Trend-based Bid Adjustments
- Continuously Monitor and Fine-tune Bid Management Strategy
- Document Changes and Performance Results for Future Reference
- Stay Updated with Platform Changes and Bid Management Best Practices
