If you do what programs are you using?
I'll say a few things, though:
1)bid mgmt is best delivered as an ASP or service and not a standalone software package, because a)AdWords' ranking algorithm changes too frequently; and b)if the solution is any good it does an extremely large amount of data crunching and therefore requires big infrastructure behind it.
2)there are two main types of bid management solutions, rules-based and portfolio algorithm-based. Know the difference and be prepared to delve into claims of better math than the next guy
3)Google is forcing self-service bid mgmt tool vendors to adhere to new API rules. Check what the vendor's strategy is to deal with G's API fees and T's & C's. If they don't have a good answer they're probably not using the API heavily, and if they're not using the API heavily then they're probably not worth considering, IMO.
4)Google's made at least 3 major changes to the AdWords ranking algorithm in the last 6-7 months. Whoever's solution you use should have been modified to deal with each of those major changes, otherwise they won't possibly be able to optimize for you.
Lastly, I thought I'd share an email from an advertiser who underestimated the work involved in trying to use a self-service rules-based bid mgmt tool:
"Okay, you want some ammo for your next pitch? Implementing [tool name] ourselves has been very painful. It's not really the tool's fault, but it has been one of the biggest challenges I've ever faced, and I'm pretty competent technically. Part of my trouble is because of the complexity of its integrations w/ the our site and the engines, and partly because I don't have the time to really sit w/ it, and battle thru challenges, and remember all the little nuances for each step. And my existing Google account needed a TON of work to get it ready for [tool vendor]... it's been hard!
In a month I'll be able to pass judgment on [tool vendor] itself... but for now, I think we really underestimated the work/complexity involved."
