When it comes to artificial intelligence and machine learning, the changes that are happening are having a huge impact on the way marketers approach their search advertising. Not only is Adwords starting to incorporate AI into the framework, but it’s creating new opportunities that will help marketers get ahead of the competition. It’s also helping them automate all of their lower-level tasks and freeing them up to formulate with more strategies. Below are a few ways that Singapore marketers can use AI to their advantage in terms of their Singapore PPC campaign.
Whenever you bid too low, you risk the chance of missing out on opportunities to get more leads. However, if your bid is too, then you could very well be sacrificing your ROI. That’s why there has been an increasing popularity in using automated machine learning. It can help Singapore companies figure out what price they should bid on paid advertising. And luckily with each day, this technology becomes available to more and more companies.
In order to launch a successful campaign, you need to know about consumer trends. You need to be familiar with their purchasing behaviour. You should know their demographics, their customer lifetime value, and much more. The problem with Google’s internal automated bidding is lacking in that not only is it identical to what everyone else is using, but it also doesn’t have access to the information that you will need in order to maximise your return on investment.
If you want to ensure that you automated bidding is successful, then there are several things that you should look for in your model. It should give you the ability to estimate the price elasticity of every advertisement by using statistical inferences that are based on the previous bids. It should factor in the value that is expected by a click from every advertisement based on the previous clicks. The model should iterate in response to new information. It should be able to recognise changes in the bidding landscape and adapt quickly, rather than assuming past performance is going to predict future performance in every circumstance.
Just make sure that the model actually knows what’s taking place on your website so that it does not make bad inferences. For example, you may test your new landing page and find that it actually lowers your ROI, so your model may start bidding lower on these keywords. After you replace your landing page with one that performs better, the model may still bid low on the previous keywords, because it doesn’t have enough new data available to push these bids back up. If the model relies too heavily on statistical significance then it may test a losing strategy for far too long, but those that don’t incorporate statistical significance can lead to missed opportunities. You should also keep an eye out for feedback loops. For instance, your model should never bid more on ads with high conversion rates if the only reason for their being high is due to high bids increasing them.
Pause ads that perform poorly
There are many Singapore businesses that lose money in Adwords simply because they continue to bid on ads even though the ad is not producing a return on investment. Sure, the clicks may be increasing but is the sales are not then this can quickly turn into a nightmare. Also, if the ad is getting bids but no clicks, then it will have a huge impact on your quality score which ultimately affects your ROI. If you use a well-built machine learning algorithm, then your ads will pause when needed.
The best models will take several things into account. First, it won’t be so sensitive that it actually abandons your ads before they even have a chance to show a return on investment. Secondly, it will use statistical inference in order to estimate all potential losses as well as gains based on the ad’s previous performance. Lastly, instead of pausing the ad outright, it will factor in individual segments which can be paused. This includes things like the traffic from mobile devices, specific browsers that are not resulting in revenue, or times of the day or specific days of the week that tend to perform poorly.
Currently, AdWords’ Dynamic Search Ads comes built into the platform. Anyone who has an AdWords account can use it. Dynamic Search Ads is able to generate eye-catching headlines automatically. And this helps to get the searcher’s attention. After you have uploaded a list of landing pages that you would like Google to generate the dynamic ads for, hen Google will identify all of the searches that are the best fit for your landing page. It will then automatically generate ad content with the phrases from this page.
Google is also uses machine learning to generate ad suggestions. These specific recommendations use models of prior performance in order to suggest changes that you can make to your ads. And this helps to boost your results. However, the benefits of dynamic ads extends far beyond what is native to AdWords. Singapore businesses can use machine learning to create dynamic ad content which mixes and matches copy, images, and audiences.
Given the possibilities and capabilities of artificial intelligence, it can be easy to assume that you would have to be a developer or data scientist in order to take full advantage of what it offers. However, this could not be further from the truth. Sure, it’s always convenient to have a staff that is dedicated exclusively to AI, but if you own a small or medium business you still have the capability to use these technologies. The key is to find the right platform.
For example, Acquisio is a machine-learning platform that is designed to improve performance in Facebook, Bing, and AdWords by cutting CPA and CPC while raising conversions and clicks. Cognitiv makes use of deep learning in order to predict where you can best spend your money. Frank connects to millions of publishers and launches campaigns automatically and optimises them by channel, target audience, and creative.
Magnetic has been designed to automatically match the audiences to the inventory while optimising your bids and cracking down on any clicks that may be fraudulent. Quarizmi is mostly associated with AdWords and automates bids, keyword discovery, campaigns, and creative. Trapica identifies your audiences and matches them to creatives, optimises bids, and also scales your campaigns.
As artificial intelligence works its way into the mainstream within the search engine marketing industry, marketers should stop micromanaging their bid prices and keywords and start working on a higher-level strategy. The good news is that the majority of your competitors are not currently aware of these techniques and platforms. So it’s a good idea to take advantage of their knowledge gap.