Bing Ads has launched a new competition tab on web interface globally this week. First rolled out in September, it offers numerous ways through which you can see the competitive scenario on the tab with machine learning powered recommendations to have an edge. Some of the distinctive features of the two major sections in the Competition tab, Auction Insights, and Recommendations-
Keep a track of your competitors with Auction Insights
The first section of the competition tab is Auction Insights. Bing Ads remodeled the Auction Insights report with better visualizations, including the ability to divide data utilizing metrics like time or device and also filter down to particular campaigns and competitors. Let’s suppose you are managing ad campaigns for a travel agency. Using the Over Time view, you can get a clear understanding of the competitive trend. By segmenting data on the basis of day of the week, you can instantly view the days on which your competitor is staying ahead of you by a significant margin.
In case you want to view data only for particular competitors, you can just filter on the domains which you are interested in. On the other hand, if you want to concentrate on specific ad groups or campaigns, then you can easily filter on particular campaigns or ad groups.
Optimize your campaigns with Recommendations
In the Recommendations section, Bings Ads utilizes machine learning to detect aspects of your campaigns which you can adjust to have an edge over your competitors. For each of these recommendations, Bing Ads provides insights into what is happening and what you can do. In the new release, Bing Ads focused on seven major recommendation areas-
- More competitive keyword bidding
- Optimize targets of your campaign device
- Fix those campaigns which have budgetary campaigns
- Get your campaign location targets optimized
- Target new locations
- Expand your reach
- Add identical keywords
Here is a recommendations example for new target locations and ways for expanding reach.
The significance of the Competition Tab
The release of the competition tab indicates how Bing Ads is incorporating automation and machine learning within its platform to enhance the overall experience and provide advertisers with tools which enhance their productivity and efficiency. Bing Ads is launching Performance Insights on the interface, following the release of Bing Ads Scripts in beta.