Advertising is becoming increasingly more scientific in its approach, as online advertising grows in importance. Google has recently introduced a “bid simulator” for its adwords programme.
Essentially the simulator will allow advertisers to see what could have happened if they had bid differently on various key words in the previous week’s advertising campaign. Advertisers can then use this historical data to make better judgements on how to alter their bidding patterns to maximise on impressions and click throughs for their key word campaigns.
“The feature provides increased transparency into the AdWords auction and gives you the insight to make more informed bidding decisions to meet your advertising objectives,” said a Google adwords spokesman. However he also cautioned;
“The bid simulator requires historical information in order to provide click and cost data for different bids. If a keyword didn’t receive many clicks in the last seven days, it isn’t possible to simulate clicks and cost.”
Retailing tycoon John Wanamaker once said, “I know half the money I spend on advertising is wasted, but I can never find out which half.”
Google are starting to prove this is a fallacy.
While it’s important to be able to quantify results from advertising, it also helps if an advert is memorable thus giving it a long shelf life.
This still remains one of my favourite ever ads:
What are your favourites?