Google Launches Preferred Cost Bidding

17 Apr

Google is launching what they are calling ‘preferred cost bidding’. Very similar to a portfolio based approach, Google is now allowing advertisers to specify the average price they would like to pay per click) and let AdWords automatically work to hit that goal/price.From Google

Introducing preferred cost bidding

Today, we are introducing a new bidding option called preferred cost bidding — a feature designed to help you save time while achieving your advertising cost goals more consistently. Instead of setting a maximum cost-per-click (CPC) or cost-per-impression (CPM) bid, you can set a preferred CPC or CPM bid that represents the average price you want to pay.

For example, suppose you want to pay an average CPC of $0.50. Currently, you need to regularly monitor and adjust your maximum CPC bids to keep your costs at or around $0.50 per click. Using preferred cost bidding, you can simply tell us that you want your average CPC to be $0.50, and we’ll manage your bids to reach that goal. http://adwords.blogspot.com/2007/04/introducing-preferred-cost-bidding.html Hat tip to:http://www.marketingpilgrim.com/2007/04/manage-adwords-like-a-mutual-fund-with-new-preferred-cost-bidding-feature.html

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