The Continuing Relevance of Exact Match Keyword Type in PPC
In the world of pay-per-click (PPC) advertising, the use of broad match keywords along with smart bidding has been touted as the best way to achieve optimal results. But is there still a need for exact match keywords? In this article, we will explore the journey of one advertiser in the home financing sector to understand the importance of different keyword match types and the reasoning behind their decisions.
Impression share is a key metric that measures how often your ads were shown compared to how often they were eligible to be displayed. It provides insights into your share of voice for a specific keyword and can inform you about the potential for more volume. This advertiser analyzed their keyword level impression shares for their top keywords and found that they needed to increase their impression shares for these terms. They were using max conversion bidding with a target cost per acquisition (CPA). To increase their impression shares, they had two options: raise the CPA or improve their Quality Scores.
After raising their target CPAs over the course of two months, the advertiser noticed an increase in conversions. However, their impression shares barely increased despite significant bid increases. They were primarily using broad match keywords in their account. After some discussions, they decided to add exact match keywords to these ad groups and conduct an in-depth search term analysis.
By adding exact match terms, they were able to see the impression share for their top keywords more accurately. They realized that they were showing much more for their top terms than they had realized and needed to explore other keyword possibilities to get more volume. Upon examining their search term data, they discovered many search terms showing from multiple ad groups, leading to subpar ad serving.
Duplicate search terms occur when a search term matches multiple ad groups, splitting the stats across those groups and potentially not using the preferred ad and landing page. By having identical keywords to the search terms, advertisers can control where their ads are displayed. The advertiser in this case study added their top search terms as keywords in the appropriate ad groups and found that their Quality Scores were not as good as they had believed.
The Quality Score displayed in your account is only calculated when the search term is exactly the same as your keyword, regardless of the match type. Adding search terms as broad or phrase match can provide insights into your Quality Scores, but it can also expand what you are eligible to show for, which can lead to budgeting issues. Having top search terms as keywords, regardless of the match type, gives a better understanding of Quality Scores.
Budget is an important factor to consider when deciding on keyword match types. The advice to use smart bidding and broad match assumes an unlimited budget, but most advertisers do not have that luxury. The advertiser in this case study added their top converting search terms as keywords for every match type (exact, phrase, and broad). They primarily used exact and phrase match to start and expanded to broad match if they were not hitting their budget. If budgets increased, they used more broad match terms. By monitoring impressions on different keywords and match types, they could identify new search terms and adjust their strategy accordingly.
Different bid strategies also play a role in the effectiveness of broad match. Target or max bidding are the most common strategies used in PPC advertising. With max bidding, Google will find ways to spend your entire budget if you use broad match since it can match to many different search terms. Exact and phrase match generally outperform broad match with max bidding. However, with target bidding, broad match can have a higher conversion rate than phrase match, allowing Google to bid more on broad match variations to obtain the same cost per acquisition.
In conclusion, while broad match and smart bidding are often recommended for PPC advertising, there is still a strong case for using exact match keywords. Exact match provides a more accurate picture of impression share, allows for better control of ad serving, and provides insights into Quality Scores. If you are budget-constrained, using exact and phrase match generally yields better results than broad match. However, a combination of exact and broad match can offer flexibility in management when using target bid strategies. The key is to understand your goals, monitor your performance metrics, and adjust your strategy accordingly.
