Small businesses have to scrutinize their advertising spend more than large enterprises to ensure their campaign reaches the target audience.
And they usually rely on blanket advertising in a particular location and hope for the best. But that is no longer the case, thanks to digital technology and services like Bing Ads Bid Boosting.
Large or small, any business can accurately target their customers with Bing Ads’ bid boosting by narrowing down their audience with greater accuracy. This includes age group, target location, target device and more.
Based on these parameters, you can change keyword bids to give you a better chance to win the auction and appear on the search result page of your choice. In a recent post at Search Engine Land, John Cosley, Director of Global Brand and Digital Marketing at Microsoft, explains:
“For example, let’s say you own a boutique called Van Ness Dress that designs custom-fit dresses and want to improve the odds of showing your ads to customers who live in the city of San Francisco. Your bid on the keyword ‘dresses’ is $1.00. You add a 20 percent incremental bid for people who live in San Francisco. Now, when a search user in the targeted city searches for ‘shoes,’ your bid is $1.20, and it’s more likely to be a winning bid that gets your ads displayed.”
Using the bid adjustment feature on Bing Ads, you can increase or decrease your bid for each parameter.
For example, in the case of tablets, which can be adjusted in 1 percent increments, bids can vary from -20 percent to +300 percent. And, for smartphones, it can vary from -100 percent to +300 percent.
The rest of the demographics — including gender, location and audience — can be adjusted from -90 percent to +900 percent.
Bid Boosting by Demographic
The first parameter to consider is demographic bid adjustment, including selection of age and gender. And according to Cosley, it delivers the greatest click-through rate (CTR) performance gains. Gender based bid adjustment delivers normalized CTR rates averaging 125 percent higher than those without bid adjustment. For age-related bid boosting, the average goes up to 133 percent.
Bid Boosting By Location
By using the tools in geotargeting and radius targeting, you can bid on geographic location. The parameters can be adjusted to identify customers who are searching or viewing a targeted location page, or actually targeting a customer that is physically in the location. This has resulted in an increase of 40 percent CTR in locations that are popular.
Big Boosting By Device
As more smart mobile devices become the primary computing solution, they are increasingly becoming valuable targets. You can bid boost ads for your small business across device types, including PC/tablet and mobile. Although it has the lowest CTR gains at 32 percent. It is one of the fastest growing segments.
Multiple Bid Boosting
If the click matches the bid adjustment, you pay for it and if it doesn’t you don’t.
Here is another example of how multiple big boosting might work:
- Keyword bid = $3
- Target age = Age with bid adjustment = Bid + 20 percent
- Target location = Los Angeles with a bid adjustment = Bid + 30 percent
- Target device = Smartphone with bid adjustment = Bid + 40 percent
The beauty of online advertising is it gives your small businesses a wide range of tools you can actually afford. Using these tools, you can start with a minimal ad budget and learn for yourself how to maximize your advertising efforts.