The tool compares keywords for which a marketer has no previous traffic or conversion data, with keywords that are linguistically similar to those 'green' keywords, but for which the marketer has actual conversion data. Weve found through significant testing and research that linguistically similar keywords usually demonstrate very similar performance in pay per click advertising campaigns.
Watertown, MA (PRWEB) April 19, 2005
Search engine marketing firm iProspectÂ® today made its online Bidding Imputation Tool available to all interested search engine marketing professionals free of charge. The tool enables marketers to predict the maximum bid price they should pay in pay per click advertising auctions on selected keywords for which they have no historical traffic or conversion data.
The online Bidding Imputation Tool was designed for use by search engine marketing professionals who do not have access to the only automated bid management tool that includes this functionality, the iProspect Search Engine Bidding Agent (iSEBAÂ). The search engine marketing firm filed a patent on the business method of performing keyword/bidding imputation on July 22, 2004. Note that marketers working with any pay per click advertising management firm, as well as their ad agencies, are welcome to download and use the tool to assist with their PPC advertising campaign management.
Simplified Version of Sophisticated Tool
"The online Bidding Imputation Tool is something we developed that, in a very simple and manual way, demonstrates a search engine marketing function that iSEBA performs in a very sophisticated, automated fashion," according to iProspectÂs paid search manager, Ben Perry, Ph.D. "The tool compares keywords for which a marketer has no previous traffic or conversion data, with keywords that are linguistically similar to those 'green' keywords, but for which the marketer has actual conversion data. WeÂve found through significant testing and research that linguistically similar keywords usually demonstrate very similar performance in pay per click advertising campaigns."
A 600% Increase in Revenue
The simple, Excel-based tool was unveiled at the 2005 Search Engine Strategies Conference in New York on the "Paid Search Tactics" panel on which Perry spoke. He elaborated on the theory behind bidding imputation, documented the testing iProspect did to prove that it worked, and shared the results of one campaign utilizing iSEBA where online bidding imputation generated an increase in daily campaign revenue of over 600%. Until today, the tool has not been available to search engine marketing professionals.
The online Bidding Imputation Tool prompts marketers to enter a maximum acceptable cost per acquisition (or cost per conversion) figure into the tool. It then prompts them to enter the universe of keywords for which they have actual traffic and conversion data, along with the actual traffic and conversion numbers for each keyword. Finally, marketers are instructed to enter all the keywords for which they do not have traffic and conversion data Â including any new keywords on which they are considering bidding. By following the toolÂs step-by-step instructions, the user can then easily establish the maximum bid price he can afford to pay on the "green" keywords without exceeding his maximum cost per acquisition.
Serious Advantages for Marketers
"This functionality within iSEBA enables marketers to bid smarter and faster," continued Perry. "You could wait around for your pay per click advertising campaign to generate enough traffic and conversion data on every keyword so you could bid appropriately on each one based on its track record. But accumulating all that data could take months and even years depending on how many keywords you have and how many clicks each generates in a given time period. Or, you could jump-start your PPC advertising campaign by making some very educated assumptions about how some of your keywords will perform in auctions, what we call 'bidding imputation' Â enabling you to generate positive ROI much sooner, and on a much larger universe of keywords," he added.
Available Free to All
The online Bidding Imputation Tool is available free on the iProspect website at: http://www.iprospect.com/about/searchenginemarketingwhitepapers.htm for any interested search engine marketing professionals who would like to download it, or anyone who would like to link to it as a resource for those visiting their website.
Industry analysts familiar with iSEBA and iProspectÂs online Bidding imputation technology include Gary Stein at JupiterResearch (firstname.lastname@example.org) and Charlene Li at Forrester Research (email@example.com).
iProspectÂ® is the OriginalÂ® Search Engine Marketing Firm. The company helps many of the world's most successful brands maximize their online marketing ROI through natural search engine optimization, paid inclusion management as an Overture OSMX partner, pay per click advertising management via their own patent-pending bid management agent called iSEBAÂ, Web analytics through their own SEM-configured version of WebTrendsÂ, and their own website conversion enhancementsm service.
Located in Watertown, Massachusetts, iProspect was the Winner of the 2004 ClickZ Award for Best Search Engine Marketing Firm. The company can be contacted at 1-800-522-1152, or by visiting http://www.iprospect.com.
Questions regarding this release should be directed to iProspect Media Relations Manager, Colleen Reed Sears, at 1-800-522-1152 x1203 or firstname.lastname@example.org.
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