It's official! As of yesterday, May 21st, all of your Google AdWords accounts now contain the ability to layer 'In-Market Audiences' on top of your search campaigns, with bid adjustments, or targeting. So what does this mean for you? Well, Google recommends you add them in 'Observation' mode now, collect data, and then adjust bids accordingly. This is great in theory, but two things: 1) I want results now and 2) man there are a lot of them!
So what should you do instead? Well, luckily, you (should) already have the information you need to take action immediately. That's right... the information you want is in your Audience Insights reports in your audience manager. Follow these steps to obtain the valuable information you seek now!
- Click the Wrench Icon, then Shared Library and then Audience Manager
- Select a conversion audience. I typically reference these audiences since there can be a dramatically different profile for visitors as compared to those who actually convert.
- Click the Audience Insights section on the left side of the page.
- Scroll down the page to the 'Relevant Audiences' section, specifically 'In-Market Audiences'.
There it is. The mecca of holy information that you can use IMMEDIATELY for In-Market Audiences for Search Campaigns. You are basking in all the glory that is what your converters are ' in the market for' at the time at which they converted. The index gives you an idea of how much more likely your people are to be in any given market, as compared to the rest of the country.
And next we want to apply the really good ones to our search campaigns.
- To do this, you have to select a search campaign to which you want to layer the audiences
- Navigate to the Audiences sub section.
- Then you will click the pencil in the blue circle to edit your Audience setup.
- Finally, click the section that says "What they are actively researching or planning (In-market).
- For now, leave the 'Observation' radio button selected (as compared to 'Targeting')
- Pick away
From here you apply the audiences that you found in your Audience Insights and adjust your bids accordingly. For me, I start with 100% bid up modifiers for any list that has an In-market index of greater than 10 in your insights report, and then my adjustments go down from there. Of course, over time, you will make adjustments based in real data.
Want to take things a step further? Think about re-launching some of your marginal campaigns, with these audience applications, but with 'Targeting' selected vs. 'Observations'. Limit your universe to folks with a proven propensity to actually convert on those terms. It's crazy enough that it just might work!
Now go forth and make your AdWords campaigns a better place!