The Outranking Share Bidding Strategy & How You Can Use It
The Outranking Share Bidding Strategy, it’s meant to do one job: automate your bidding to outrank ads. But just what does that mean for you?
If you’re in a competitive market and you want to make sure you rank above your competitors, then this strategy might be for you. You simply identify the competitor you want to outrank, and then you set a maximum bid limit. You also set how much higher you want to rank above your competitor.
In the event that two competitors are engaged in outranking share bidding strategies against each other, the maximum bid limit will be the safeguard. The maximum bid limit will put a cap on how much to bid on a keyword when a competitor is also running an Outranking Share Bidding Strategy. This will prevent your CPCs from drastically increasing. Without the maximum CPC ‘safeguard’ in place, you should expect CPCs to potentially get a lot higher.
One caveat to using an Outranking Share Bidding Strategy is that you should be prepared to raise your bids. This strategy might not meet your goals if the budget is limited.
In the auto industry specifically, don’t set this to an OEM if you are hitting your budget cap. This is especially important against competitors’ OEMs. The reason is that competitor OEMs often have a larger budget and are set up with a large bid to begin with. However, if you have room in the budget, then maybe this is something worth considering.
Another case for use of this bidding strategy is in mobile-only campaigns. Most times you will have a general idea of who is taking that first or second position away from you on a mobile device. Simply identify who the main competitor is, set the strategy with a large enough budget, and then sit and wait for the results!