Logging into Google AdWords for the first time can feel like walking into a cave without a flashlight. You’ll be bumping into walls until your eyes adjust, and even after they do you’ll have a difficult time navigating. It’s easy to get bogged down by the tabs on tabs on tabs, but with a little digging you’ll find that the most interesting tools like the Search Terms Report and Desktop-only ads are hidden deep within in your AdWords dashboard. Today we are highlighting 2 of our favorite hidden tools to help you improve your performance. Take a look:
Auction Insights for Search
The “Auction Insights for Search” report allows you to compare your campaign performance with your competitors that are bidding in the same auctions as you are. This is an invaluable tool because it’s your competitors, not you, who control how much you bid and the overall position of your ads.
To access the Auction Insights report:
- Click on the ‘Campaigns’, ‘Ad Groups’, or ‘Keywords’ tab based on the information you want to see
- Click on the ‘Details’ button
- Click either ‘All’ or ‘Selected’ under ‘Auction Insights’ in the dropdown menu
Once the report is loaded, you’ll notice 6 statistics: average position, impression share, outranking share, top of page rate, overlap rate, position above rate. Impression share is our favorite statistic to look at, and the easiest for new AdWords users to understand. It shows you your slice of pie in comparison to your competitors. If you see a low impression share, it means your competition is stiff and you may want to experiment with increasing your bids and/or budget.
Household Income Bid Adjustment
Good news for all you luxury boat and fancy timepiece sellers out there—AdWords allows you to set bid adjustments by household income levels. This means more targeting to qualified users, allowing you to save money on clicks from folks who would never buy your products.
Check out our full guide to setting up and optimizing income bid adjustments
AdWords is a beast of a product with many important tools buried deep in the dashboard—the Auction Insights report and Household bid adjustment targeting being two of our favorites.
What hidden AdWords tool have you seen the most success with? Let us know in the comments!