Introducing the Competition Tab in Bing Ads
Great news from Bing Ads, as their latest product development introduces the all new Competition Tab. It compromises of two useful sections, the first, Auction Insights and the second, Recommendations. Each bringing their own unique insights, features & functionality for the modern day marketer.
As a marketer, you may already be familiar with the Auction Insights report in Bing Ads (also similar to Google Ads). If not, Auction Insights gives you a comparison of metrics with other advertisers in the same auction as yourself. Here you can view data on six different statistics: impression share, average position, overlap rate, position above rate, top of page rate and outranking share. If you may be thinking ‘wasn’t the Audience Insights report previously available in Bing Ads?’, you’d be correct. However, as of the recent update it’s had a bit of a design makeover, whilst retaining its core insights. The updated Auction Insights tab now comes with tabulated data and richer visualisations to easily understand competitive trends. In addition, you can now use a range of filters to view specific data, alongside traditional navigation to a campaign, ad group or keyword view to view auction insights.
(Source: Bing Ads Blog)
Aside from the Auction insights, the competition tab includes recommendations powered by Bing Ads machine learning technology. Now, each of these individual recommendations suggested by Bing, are designed to highlight opportunities to help you stay ahead of the competition. To make this even better each recommendation comes with insights into ‘what’s happening’ and ‘what you can do’. On top of this you even get an expected outcome, if you make the suggested change. Areas highlighted are as below:
- Bid more competitively on keywords
- Optimize your campaign device targets
- Fix campaigns limited by budget
- Optimize your campaign location targets
- Target new locations
- Expand your reach
- Add similar keywords
(Source: Bing Ads Blog)
This update is a useful development bringing Bing Ads a step forward as a paid search platform. Hopefully, this is a sign of good things to come, with Bing Ads stepping up to prove more of a challenger to the bigger pay per click giants (Amazon, Facebook & Google) we see today.
If you have any questions about Bing Ads, or indeed paid search, get in touch today and we’ll be happy to help!