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In my Industry, CTR tops out at around 5% on well written adwords. Well with my 5 cent bid I earned a position of 35. I expected to get almost zero response, however my CTR is 1.0%
That means that 20% of the people are searching
at least 5 pages deep to find what they want.
This is unheard of in any other search engine.
Im very happy with this as it is costing me very little for a hot word.
Lets do the math
Top adword position. Cost 60 cents.
60 cents x 1000 Impressions x 5% CTR = $30.00
5 cents x 1000 Impressions x 1% CTR = $0.50
The competitor is paying 60 times more to get 5 times the traffic.
As you can see, bidding to be the top adwords player, is an incredible waste of money.
Thanks for the information and the sharing of your experience. I'm glad to hear it has worked out for you. However, I have to put a spanner in your works here. It is not necessarily a waste of time coming #1 in you adwords campaign. I have got a couple of sites in very competitive sectors and if I even drop to #2 my CTR hits zero.
If the case is the latter, then yes this would invalidate my calculations for anything beyond
One thing I have noticed, is that you get your
bigest position jump for 1 cent increments, going
from paying 5 cents to paying 6 cents.
It appears that there are alot of advertisers paying the flat minimun, and by boosting to 6 cents, you are getting ahead of alot of them.
Heck, I'd rather have the #9 spot (top of the second page) at an (often) much lower bid than 5 though 8 on the first page.
Im not sure how Google would react if there was.
Overture eventually reached a deal with the bid management software companies (ie no more than 1 auto bid change per hour).
My guess is that Google, would just say no, and banish whoever would try to use it, as they do with the main index monitoring software.
Anyways, with Googles adword interface, it would be one heck of a program to write.