The latest data gathered from Google shows that the holiday season can cause daily shifts of conversion rates. Do you know what this means for your paid search account? If not, now is the time to find out, so you will be fully prepared when the holiday season is in full swing.
The relationship that exists between your bids and your conversions is interesting. While you can have one without the other, they are linked quite intricately. When you have a higher conversion rate, then you can become more aggressive with the bids that you make. Also, the more value that is obtained from conversions, the more flexibility you will have to go and get more. While you likely know this and have strategies in place to maximize your conversions and return on investment, the holidays can change everything.
The Holiday Pitfall
Google analytics data taken from past holiday seasons showed that the conversion rates of paid search campaigns can become extremely volatile. While it is no surprise that more people are converting, and at a higher rate during the holiday months, the time frame and the average order values can be extremely different from day to day.
Now you have to develop a plan for coping with this type of volatility; after all, this will help you get through the holiday season unscathed.
Planning Ahead
You can make the assumption that on days such as Cyber Monday and Black Friday you will have a ton of traffic – and it will be great traffic. This is traffic that is going to want to spend money on what you have to offer. If you are expecting an 80 percent increase in your overall conversion rate during this period, then you should plan on being 80 percent more aggressive in regards to the bids that you make in order to accommodate this seasonal change. These are crucial days in the holiday season, and you need to take advantage of them.
Viewing Your Own Conversion Data
The good news is that there are several reports that you can access to see how your paid search campaign did last year and what you can expect this year. One of the easiest methods is to add conversion rates into your graphs.
Taking Action
With the numbers gathered from Google and the ones you have generated yourself, you will know what the key days are during the holidays for your business. Once you know what these are, you need to be sure to take action to make the most of them. Boost your bids when conversion rates are high – make moves to ensure that your paid campaigns get the attention to help you have the best holiday season ever.
