Anticipated Disruptions in the PPC Industry for 2024
By 2024, the PPC industry will witness significant changes, including the phasing out of third-party cookies, an increased focus on privacy measurement, and automation via AI. This article elaborates on the seven key areas advertisers must reconsider to stay ahead of these shifts.
1. Overhaul Your Measurement Approach
The retirement of third-party cookies by 2024 is imminent. It is therefore vital that advertisers refocus their efforts to prioritize privacy-centric measurement frameworks. The importance of establishing these new measurement practices cannot be overstated, as it will likely require two quarters or more to develop and test these new frameworks. Examples of these updated frameworks include first-party data tracking, enhanced conversions, and Google Analytics.
2. Implement Value-Based Bidding
Upon successful establishment of privacy-safe measurement, you will need to revisit your value-based bidding strategies in your paid search program. It has been shown that value-based bidding can significantly boost sales and revenue. Therefore, having a system that can dynamically track values and multiple actions is increasingly crucial.
3. Experiment with Broad Match
Broad match was initially viewed warily due to its tendency to generate irrelevant traffic. However, with advanced control offered by value-based bidding, broad match can now be better managed. The Search Generative Experience (SGE) will also work differently, thus necessitating a shift in focus for advertisers. It’s recommended to explore broad match but only after establishing your measurement and value-based bidding strategies.
4. Gain Mastery of Performance Max
Google and Microsoft are betting big on Performance Max. While it has its advantages for these companies, it may not always prove beneficial for advertisers. It’s imperative that advertisers figure out ways to make these combined campaigns work. Despite its limitations, advertisers must strive to harness the potential of Performance Max to get the most out of their campaigns.
5. Become Familiar with Demand Gen
Demand Gen campaigns have shown mixed results in the past quarter. While it’s valuable for paid search to deliver ads across the whole buyer journey, there may be some overlap between Demand Gen and Performance Max regarding placements. However, testing is crucial in understanding what works best for each advertiser. As measurement gets more complex and channels consolidate, it’s evident that marketers need to adapt to overcome these challenges.
6. Utilize Generative AI Creative
Generative AI has become ubiquitous in paid search. Google notably launched genAI for asset creation within Performance Max last year, which promises to change the industry. This technology allows rapid generation of personalized assets for campaigns. Creative bandwidth is often a constraint in creating various ad iterations, but with generative AI, this problem can be fully addressed.
7. Sync Paid and Organic to Navigate SGE
SGE’s addition to SERPs last year is likely to modify user interaction with search results. It appears above the organic listings, potentially affecting traffic. Also, AI-generated content can display shopping ads and other paid placements. Therefore, understanding how campaigns appear on placements and content is vital. Collaboration between paid and organic teams has often been a challenge but is essential for success in the coming years.
Embrace a Holistic PPC Approach
Even as automation and artificial intelligence streamline paid search operations, managing PPC campaigns remains a significant task. The focus of paid search campaigns will undoubtedly evolve, hence the need to adopt a holistic approach. By exploring new tactics beyond traditional PPC platforms like Google and Bing, advertisers can navigate these oncoming changes smoothly.
Content derived from Digital Sunbird sources.
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