PPC Trends for 2023
As the world of digital marketing continues to evolve, it is essential to stay abreast of the latest trends and strategies.
Pay-per-click (PPC) advertising is invaluable for businesses seeking online visibility.
This article outlines three PPC trends that will be especially important in 2023. These include harnessing data for better decisions, leveraging automation, and optimising campaigns with artificial intelligence (AI).
A Slow Economy and Increased Interest in Efficiency
It's no secret that the economy faces challenges that impact digital marketers in various ways. Tight budgets, leaner teams, and more frequent questions about ROI and CPA are becoming common. As a result, navigating the environment can be tough, and there are no easy answers.
However, one effective way to deal with this is to delve into your information.
Understanding the most effective strategies and maximising your investment is crucial. To do this, you can apply the same approach as a sports team in the finals – focus on your top players and the most effective methods.
This doesn't just mean consolidating your keyword strategy. It means exploring all aspects of your campaign's success, from audience devices and timing, to the campaigns that perform best. By investing in the segments with the most effective combinations, you can make the most of your limited budget.
So, while this may seem obvious, it's important to take a detailed look at your campaigns and refine your spending accordingly. By doing so, you can maximise your returns and weather the challenges of the current economic environment.
Automation Vs. Autonomy
The debate on the role of automation in campaign management has been ongoing for some time. Still, it gained more attention in 2022 due to various developments such as the rise of Performance Max campaigns, redesigned general match, removal of Expanded Text ads, and integration of automated Performance and suggestions for creativity.
With the growing strength of machine learning, it is expected to continue being integrated into campaign management platforms.
To succeed in 2023, it is essential to balance the potential of automation and the autonomy needed to achieve stakeholder goals. When creating an automated bidding strategy, it is crucial to establish business-specific safeguards that operate between and towards specific objectives. Accurate inputs lead to better alignment with goals.
This same mindset can be applied to other AI applications in campaign management platforms.
While automation reduces resource needs, it should be directed towards business goals.
Strategize which datasets to integrate to enable algorithms to inform improvements and recommendations effectively. Identify levers that require control and those where machine learning can create appropriate adjustments.
Lastly, organising accounts to enable automation to work best is crucial. The proportion of autonomy and automation will depend on strategy complexity. Advertisers who have a thorough understanding of this balance will benefit the most.
Every article needs an edgy viewpoint, so here's one for you: buckle up! You may be impressed with Microsoft's latest updates this year. Not only have they expanded their ad options, but they've also increased their geographic reach to include about 70 new markets.
Microsoft Advertising has always been known for its low costs and comparable features to Google. However, they've recently introduced new ideas, such as Multimedia Ads exclusive to the platform.
While you may not expect any drastic shifts in search engine market share, it's worth considering the possibilities for innovation on Microsoft Advertising. With generally lower CPCs, it's a good environment to test new strategies, and their new technology can help improve conversion rates.
If you're on a tight budget, converting more efficiently and using low-cost CPCs is an attractive opportunity. This suggestion is particularly relevant for B2B advertisers, as Microsoft Bing has shown high engagement rates, likely due to research on work-related devices.
What are your thoughts?
As 2023 evolves, businesses must stay updated with the latest PPC advertising trends to maximise their online visibility.
Three key trends to watch out for are harnessing data for better decision-making, leveraging automation, and optimising campaigns with artificial intelligence.
With the current economic challenges, taking a detailed look at campaigns and refining spending accordingly to maximise returns is important.
Finding the right balance between automation and autonomy is essential to achieve business goals, and organising accounts to enable automation to work best is crucial. Microsoft Advertising's recent updates and expansion make it worth considering as a platform for innovation, especially for those on a tight budget or targeting B2B audiences.
By considering these trends, businesses can stay ahead and achieve their advertising goals in 2023.
Contact EWM to discuss how we can support you with your PPC advertising campaigns.