CPC Strategy Tip of the Day: Three variables that scream INCREASE BIDS!
1. You have the lowest total price (don’t forget about shipping) in comparison to your competitors.
2. A coupon you’re listing makes your product or webstore more desirable than your competitors.
3. Your store reviews are excellent in comparison to your competitors.
When your products or categories on the CSE’s have a high conversion rate and a low cost of sale (spend / revenue), you can assume that there’s something more competitive about your listings compared to your competitors.
Even better than assuming, do a search on the CSE’s for a handful of products in your inventory that are converting at the highest rates. Examine the comparison pages and see why your products are getting sales.
This can help you determine what’s driving consumer purchase decisions through the CSE’s and also helps you determine the amount you should increase your bids by.
If you have the lowest absolute total price by a long shot, it may be wise to increase your bid by 10-20 cents instead of 1-5. In any case, analyze that product or category’s performance before and after the bid change, and continue to adjust.
Never set a bid and forget it. Your competitors are changing their pricing and coupons every day, so it’s best to keep a watchful eye not only on product performance, but how your product looks in relationship to your competitors on comparison pages.
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