Demand-based bidding, as coined by Clicteq, is currently the most advanced way to bid in Adwords. Most 3rd-party bid platforms only analyse data inside Adwords and make bidding decisions based on that, completely ignoring external factors that effect supply and demand, like the weather, exchange rates, inventory and much more.
Demand-based bidding allows you to make bidding decisions based on external factors that affect supply and demand in real-time, and can work alongside traditional 3rd-party bid management platforms to provide unparalleled results.
Here are a few examples of how you can use demand-based bidding:
- Weather bidding. When the weather in the UK is cold, the number of foreign holidays booked spikes. Take advantage of this by showing your ads more often when the weather is cool.
- Forex bidding. People book more holidays when the pound is strong to the foreign currency. Utilise this by showing your ads more often when this happens.
- Inventory-based bidding. When your hotel or course gets fully booked, conversion rates drop and the cost-per-conversion spikes. React to this in real-time with inventory-based bidding.
- Flight delay-based bidding. When flights are delayed, people often book accommodation nearby. Use flight delays as a trigger to show your ads more often when demand is high.
- Train delay-based bidding. When the Eurostar is delayed, people often book accommodation nearby. Use train delays as a trigger to show your ads more often when demand is high.
- Telematics-based bidding. Increase or decrease bids depending on the position of your engineers around the country, displaying more ads in the areas they are working.
- Crime rate-based bidding. Sales of alarms and security products go up alongside the occurrence of burglaries. Crime-based bidding allows you to show your ads more in these areas.
The list goes on. Provided there is a data source that has an API, you can bid on any external factor that affects demand.
Interested in hearing how we can do this for your business? Email us at firstname.lastname@example.org.