05 Jan How Analytics and AI are Changing Traditional PPC Models
It’s no secret that AI and analytics are trending topics across industries, and the PPC world is no different.
Although campaign optimization is one of the most critical priorities of any PPC manager, a lot of time is wasted in tweaking bids, changing campaign settings, identifying trending and negative keywords, etc. That’s where analytics and AI can bring value to PPC models and improve the overall efficiency and accuracy of their campaigns.
From driving lead generation to reducing the cost per lead, from freeing up time to focus on important tasks to taking your business to the next level; here are 5 ways analytics and AI are changing traditional PPC models:
- Efficient use of budget:When it comes to allocating budget for PPC campaigns, many firms struggle to decide whether they should bid on their own brand terms or bid based on Cost Per Click – to ensure maximum ROI. Analytics and AI can automatically ensure efficient use of budget against set ROI targets. Since AI models can be trained to work on a given set of parameters, you no longer have to worry about how to derive value from your campaigns. AI algorithms can automatically detect challenges in real-time, spot opportunities, and make adjustments, so you can beat the competition at every stage.
- Deeper insight:For firms struggling to unearth insight from their PPC campaigns, analytics and AI can allow professionals to perform queries to understand who is accessing the website, at what time of the day, from what location, and for what purpose. The algorithms will collect performance data, understand the possible outcomes through historical data analysis, and take necessary action – without having to write lengthy if-then statements and without needing any human intervention. They can provide much-needed insight into bounce rates, the average time spent by each user, the average number of pages visited. This information can become the basis to optimize campaign strategies. For instance, Google uses its Tensorflow processing system to keep track of user life events and crafts tailored content for individual users to drive better conversion.
- Management across locations:Companies with complex business models and those that operate from multiple, geographically-dispersed locations have a tough time running PPC campaigns to keep pace with the demands of an international audience. With AI, handling this complexity becomes extremely straightforward. AI can analyze reactions to local (and global factors) such as market trends, local competition, demand spikes, customer search behavior, and more, and handle every aspect of campaigns optimally – in real-time. What’s more, AI not only enables you to tailor your PPC campaigns geographically but also allows centralized control – so you can keep track of all your campaign data in one place, through a single console, across locations.
- Error-free:In the world of PPC, given how intense the competition is, there is no room for error. AI can make use of sophisticated tools to optimize the number and quality of keywords and phrases in campaigns; since AI models are free from cognitive bias and aren’t limited by human capability to discover and test new terms, you can drive your PPC campaigns to success – while keeping pace with consumer trends and competitor activity.By automating many of the manual tasks that campaigners perform on a day to day basis, analytics and AI can perform tasks across a large portfolio of campaigns and reduce errors.
- Constant optimization:Constantly optimizing your PPC campaigns is necessary to stay ahead of the curve. Since AI models have an inbuilt ability to learn through constant training, they can help you improve the success rate of your campaigns. By understanding what works for your campaigns and what doesn’t, they can help modify strategies and tactics and drive the outcomes you are looking for – in a fraction of the time compared to what it would take to manually test and deploy optimization techniques. Using AI, you can make an infinite number of adjustments to capitalize on opportunities for growth and efficiency and optimize PPC campaigns across Cost Per Lead, Cost Per Acquisition, ROI, customer value, and other factors.
Drive better results
As PPC becomes more and more competitive, analytics and AI automation can help you drive improved outcomes through efficient budget utilization, deeper insight, management across locations, and constant optimization. Since AI takes care of the repetitive tasks, it allows more time for managers to focus on strategies that matter and drive better results from your campaigns. The analytics + AI combo could become the silver bullet marketers are searching for.