Manual bidding is a method used in digital advertising where the advertiser manually sets the maximum amount they're willing to pay for a click, view, or other desired action. Unlike automated bidding strategies where the advertising platform adjusts bids based on various factors, manual bidding gives advertisers direct control over their bid amounts for specific keywords, placements, or audience segments.
The Role of Manual Bidding for SaaS
For SaaS (Software as a Service) businesses, customer acquisition is a nuanced process. The sales funnel can be longer, with users often requiring multiple touchpoints before conversion.
Here's how manual bidding can play a pivotal role:
- Budget Control: SaaS businesses, especially startups or those with limited funding, can maintain strict control over advertising expenditure by setting their own bids.
- Targeting Precision: With manual bidding, SaaS companies can allocate more budget to keywords or placements that are highly relevant to their software offering, ensuring that they're capturing the most qualified leads.
- Flexibility: SaaS industries can be dynamic with ever-evolving competitors and market conditions. Manual bidding allows businesses to quickly adjust their bids based on real-time insights and external factors.
The Process of Manual Bidding
- Research: Begin with thorough keyword and audience research to identify where you should place your bids. For SaaS companies, this could mean identifying keywords that potential customers might use when looking for specific software solutions.
- Set Initial Bids: Based on research and your advertising budget, set initial bid amounts. Remember, this is the maximum you're willing to pay for the desired action (like a click).
- Launch Campaign: Start your campaign with the manual bids you've set.
- Monitor Performance: Regularly check how your ads are performing. Are they appearing for the desired search terms? Are they achieving the desired click-through rates?
- Adjust Bids: Based on performance, adjust bids as necessary. If a keyword is performing exceptionally well, you might choose to increase its bid. Conversely, lower or pause bids on underperforming keywords.
Manual Bidding vs. Automated Bidding
- Control vs. Convenience: Manual bidding offers direct control, letting advertisers decide exact bid amounts. Automated bidding, on the other hand, lets the platform make decisions based on the advertiser's set objectives, optimizing for best results without constant oversight.
- Effort: Manual bidding requires continuous monitoring and adjustments, making it more labor-intensive. Automated bidding requires initial setup but then runs with minimal intervention.
- Precision: While automated strategies use algorithms to find the best opportunities based on historical data, manual bidding can be used to exploit real-time insights or strategies that might not be immediately obvious to algorithms.
Conclusion
While manual bidding might sound traditional in an age of automation, it remains a valuable tool, especially for businesses like SaaS that need granular control over their advertising efforts. By understanding its role and the intricacies involved, businesses can effectively use manual bidding to enhance their digital advertising strategy and achieve desired results.
