With increasing competition in most major lead generation verticals, companies are constantly looking to find a new edge over their competitors. Without fail, these companies will turn their attention towards Algorithmic Bid and Ad Optimization – and why wouldn't they? The promises and potential to transfer your business and the industry is staggering.
However, it is NOT a silver bullet. Ad optimization on its own can find the local optima, but it’s only with skilled ad copywriters who consistently challenge themselves, and even their very notions of what makes good copy, that you will start to really capture the promise of automated bid and ad optimization.
Now I’m not a designer by any stretch of the imagination, but I wanted to try and illustrate exactly what it is I’m talking about here. The cloud below represents all the potential variants of ad copy and general ad-based marketing strategies you could leverage. The blue box in the center represents the handful of ad copy types you keep tweaking over and over again to try to find the best string of words that deliver the results you want.
It might be a little generic of an example, but thinking inside that box in many scenarios will never lead you to the best ad copy for your campaign.
Let me say that another way:
A Failure to Innovate In Your Ad Copy Strategies Can Hurt Your Success As Much as a Failure to Innovate In Technology, Niche Identification, or Business Development.
In many scenarios the old adage “Slow and steady wins the race” might hold true (I’ve never seen that to be the case but I’ll presume maybe you have), but with increasing competition and the widespread availability of tools like WhatRunsWhere, your ad strategy is constantly under the threat of being co-opted by your competitors.
Take a Page from Microsoft (and Google!) for Ad Copy Optimization
There is a ton of talk about A/B testing landing pages, the pitfalls and the promises of multivariate testing (which is an entirely different thing), and yet, at least for ad copy, Microsoft doesn’t follow either of these patterns. Instead, they are in love with multi-armed bandit problems.
These problems offer an extremely effective solution for ad copy testing without costing you a fortune in lost opportunity.
So how does it work?
The simplest answer is: The majority of time you are showing the most successful ad copy you have available, and for just a fraction of your overall impressions you are showing different ad copy tests.
Next week, we’ll go more into this topic but for now--
Tell us about some of your best out-of-the-box ad copy exploits.