Weekly Wisdom: How to Set Bids in Google Ads by Joel Bondorowsky
Hello everyone watching. Thank you all for joining my third weekly wisdom video. I am Joel Bondorowsky Founder and Executive Director of PPC Designs. I am a SEMrush PPC academy professor. And for this week's weekly wisdom video I will teach you how to set bids and Google ads. Now, why is bidding so important? Bidding is important because when you're doing paper click advertising, you are empowered by being able to choose the maximum amount that you want to pay per click for any given keyword. But in order to do proper bidding, you need to know what that amount is. This is something that is really mysterious to most people, especially when they first get into Google ads. But really the formula is quite simple and the formula basically is one that lets you know what the value for each one of those clicks are.
Joel: After all, in order for you to be profitable with a paper click campaign, you need to pay less per click than the value that the clicks bring. So understanding the value per click or VPC is the essential component in understanding the amount you want to set for your max PPC bids and Google ads. So let's begin. The first thing you're going to want to do is to log into your Google ads account. Once you're in your Google ads account, you need to extract a report, a keyword report that gives you the data you need in order to determine what those maximum cost per bids are, cost per click bids are. Now, there are two ways to extract this report. One is from the reporting section in Google ads, and the second is by viewing a keyword list and the keyword view and Google ads, and simply clicking on the download icon. Both methods will effectively download your keywords with the stats you need in order to set bids. But for the purpose of this demonstration, I will walk you through the steps of doing this from the reporting section.
Joel: Now, the reporting section has a few advantages, the main one being actually is that it allows you to save the settings for the report so that you can run it on a regular basis. In fact, you can even choose to have them run on a schedule so that way you don't have to manually go in there and set it. This is really very important due to the fact that bidding is something you're going to want to do on a regular basis. You're going to want to regularly download this keyword reports, run these formulas that I'm going to lay out for you and determine and adjust bids on words that are profitable so that you are making more off of them and lower bids on keywords that are losing you money. So once you log into Google ads, click on reporting. Next, click on custom. After that, set the conditions for the report. What are the conditions? Well, first of all, you need to choose a time range for the performance data that you want to look at. Next, you'll want to filter just relevant campaigns.