Overture Bid Manager - Explained

[NFFC]

From the horses mouth, the new Overture bid management tool:

[overture.com...]

[Travoli]

Pretty neat, easy, quick way to see how it works. Still not sure if I like it, though.

[tigger]

nice find, too tied to read it now, homework for tomorrow

[Ross]

Hmmm....how would you like to be the proud owner of a bidding tool that just paid Overture a license fee only to find that they seem to have incorporated most of the features into the DTC ?

Guess I wouldn't be too pleased if I'd just bought one of those tools or signed up for an automated bidding service either.

Talk about biting the hand that feeds you !!

[WebGuerrilla]

The bid management companies new this was coming. But it does seem that Overture has thrown them a bit of a bone. My understanding is that if you use a third-party tool, your true max bid will not be displayed.

I think that alone might make it worthwile to stay with a management program.

[JustTrying]

WebGuerrilla, I agree with you totally. This very issue came up today with a customer, and they opted to continue to pay for a thrid party management program.

It will be interesting to hear how many people opt for Overture's Auto Bid option.

[hurlimann]

Bloody Hell. To Display your max limit is ruthless and I guess in the US and maybe Europe could be illegal in the circumstances.

Real Time Auctions where the auctioneer tells the other side what the other is willing to pay.

[hurlimann]

Btw anyone know how often they will auto update. They said 6 max a day to the 3rd party guys, apparently they will now allow 24 a day max.

[hurlimann]

Another not so random thought. We will set a max bid at 1,000USD. Then what happens?

IMHO others will be put off and the first to compete by offering more will find they lose money and we, now in position 2, will only pay 1c more than the guys at 3.

Anyone for a game of chess ;)

[daveg]

hurlimann,

If you bid $1000, I will bid $999.99. Then you will pay $1000 and I will pay 1c more than the number three position bid.

Overture states that you pay 1c above the MAXIMUM bid, not the actual cost the person is paying.

Be careful out there :)

Dave

[garbageman]

Funny thing just happened. I went in to check out the new tool, and I got this:
My "keyword" was in position #1 at $0.06, #2 was paying $0.05, and #3 paying $0.01(grandfathered in from March 2001). So I changed "keyword" to Auto bid, and set my max bid to $0.10. When I updated, I scrolled down to find my max bid column read $0.10 as I guessed it should, and the competitors max bids remained the same).

Then when I did a search, to see if I was paying $0.01 above the #2 guy, I find my bid at $0.10, while #2 still sat at $0.05.

Are they not operating on real time anymore? And how long will my bid sit there at $0.05 above the next guy? Well, it won't ...cause I turned it off. I think I have a phone call to make...I hate to sound so facetious about it, but if that's the way it's going to work, I don't want it.

Anyone else have a problem?

garbageman

[hurlimann]

Same problem. Not realtime. 2 hours at 100% more than position 2.

I guess update will be every 4 hours (6 updates a day)

[hurlimann]

daveg, I will of course be using a bid checker set at 30 sec intervals and when you bid 999.99 I will bid 999.98.;)

[hurlimann]

Whoops garbageman. It may not be a problem. Overture always displays the MAX you are willing to bid so you can't see what you are actually bidding/paying per click.

[daveg]

hurlimann,

Reverse bidding wars, now that's a new one!

daveg

[hurlimann]

Well this is what will happen otherwise it is easy to be starnded with a massive bid gap