How do you monitor and respond to changes in keyword performance trends over time?

Monitoring and responding to changes in keyword performance trends over time is crucial for optimizing your Bing Ads campaigns and ensuring that your advertising efforts remain efficient and effective. By actively tracking performance, identifying trends, and adjusting your strategy, you can better allocate your budget, improve ad visibility, and maximize conversions. Here's how you can monitor and respond to keyword performance trends effectively:

1. Set Up Regular Performance Monitoring
Daily/Weekly Reporting: Establish a regular reporting cadence (daily or weekly) to track keyword performance in terms of CPC, CTR, conversion rate, CPA, and ROAS. Frequent monitoring will help you spot shifts in keyword performance early and make necessary adjustments.

Custom Alerts: Use custom alerts in Bing Ads to notify you when specific keyword metrics (such as CPC or conversion rate) fall below or exceed a set threshold. These alerts help you stay on top of performance changes without manually checking your campaign every day.

Automated Reports: Set up automated performance reports for your keywords to receive regular updates. These can be tailored to track specific metrics such as cost-per-conversion or CTR, and can help identify changes over time more easily.

2. Identify Keyword Performance Trends
Look for Patterns Over Time: Regularly analyze performance trends over days, weeks, and months. Key patterns to watch for include:

Increasing CPC: If you notice a steady rise in CPC over time for certain keywords, this could indicate growing competition.

Decreasing CTR or Conversion Rates: A drop in CTR or conversions could signal that the keyword is becoming less relevant or that the ad copy/landing page needs improvement.

Improving or Declining ROI: A consistent improvement or decline in your ROAS for specific keywords can help you identify which ones are becoming more or less profitable.

Seasonality and External Factors: Be mindful of seasonal changes in keyword performance, such as spikes during holidays or product launches. External factors like industry shifts or market events can also impact keyword trends.

Keyword Variations: Look for changes in performance across keyword match types (broad, phrase, exact) and keyword variations. These can sometimes reveal insights into shifting user intent or search behavior.

3. Use Bing Ads Reports and Insights Tools
Search Query Reports (SQR): Regularly review your Search Query Reports to identify new search terms that are driving traffic. This can help you identify high-performing keywords you might want to add to your campaign or negative keywords to exclude irrelevant traffic.

Auction Insights: Monitor the Auction Insights report to gauge how your keyword performance compares to competitors. If your impression share is dropping or your competitors are increasing their bids, it could indicate changes in the competitive landscape that require bid adjustments.

Geographic and Device Segmentation: Analyze performance across different geographies and devices. A keyword that performs well on mobile but poorly on desktop might warrant device-based bid adjustments.

4. Leverage Automated Bidding and Adjustments
Use Smart Bidding Strategies: Automated bidding strategies, such as Target CPA, Target ROAS, or Maximize Conversions, can help Bing Ads adjust bids dynamically based on performance data. These strategies use machine learning to optimize your bids for better performance, especially when keyword trends shift.

Automated Rules: Set up automated rules to adjust bids, pause keywords, or change budgets based on specific performance criteria. For example, you could create a rule to automatically increase bids for keywords that are performing well (high CTR and conversion rate) or pause underperforming keywords (high CPC, low conversion rate).

5. Respond to Performance Changes
Increase Bids for High-Performing Keywords: If a keyword is performing well (i.e., high conversion rate, low CPA, high ROAS), consider increasing bids to maximize exposure and drive more traffic. This can be especially effective when you see that keyword performance is consistently improving over time.

Pause or Lower Bids for Underperforming Keywords: If a keyword's performance is deteriorating (e.g., rising CPC with low conversion rates), consider lowering the bid or pausing it altogether. If a keyword is no longer driving value, cutting spend on it can free up budget for more profitable keywords.

Refine Keyword Targeting: If you notice that a keyword is performing differently depending on the device, location, or time of day, consider using bid modifiers to adjust bids based on those factors. For example, if a keyword performs better in certain regions or on mobile, you can increase bids in those areas or for those devices.

Add Negative Keywords: If your keywords are attracting irrelevant or low-converting traffic, add negative keywords to filter out unqualified searches and improve overall campaign efficiency.

6. Monitor the Impact of Bid Adjustments
Track Changes Post-Adjustment: After making bid adjustments, track the impact on keyword performance. Are your CPCs stabilizing? Is your conversion rate improving? Monitor these metrics to ensure that your changes are having the desired effect.

A/B Testing for Bid Strategies: Use A/B testing to experiment with different bid strategies or keyword optimizations. For example, test manual bidding vs. automated bidding, or try adjusting bid modifiers for specific times or locations. By comparing the results, you can determine which adjustments yield the best performance.

7. Account for External and Competitive Factors
Track Competitor Movements: As competitors adjust their bids, keywords, and budgets, monitor the changes in Auction Insights or use competitor analysis tools (like SEMrush or SpyFu) to stay informed about shifts in the competitive landscape. Adjust your bids or targeting strategy based on competitors' movements.

Account for Industry Trends: Stay informed about shifts in your industry or market that could affect keyword performance. For example, during major events or product launches, specific keywords may surge in popularity, requiring you to adjust your bids accordingly.

8. Optimize Ads and Landing Pages
Refine Ad Copy and Landing Pages: If keyword performance is dropping (e.g., low CTR or conversion rates), assess your ad copy and landing pages. Are they aligned with user intent? Do they need optimization? Improving ad relevance and landing page experience can positively influence Quality Score, leading to better performance even with the same bid.

Test Different Ad Variations: Use A/B testing for ad copy to identify which messages resonate best with your audience. Adjusting the wording or highlighting different aspects of your products or services can help increase CTR and conversions, especially for keywords with fluctuating performance.

9. Focus on Long-Tail Keywords
Targeting Long-Tail Keywords: Long-tail keywords, often less competitive, can offer higher conversion rates because they capture more specific user intent. If you notice that certain short-tail keywords are becoming too expensive or less effective, consider focusing on long-tail variations that might deliver better results at a lower cost.

Expansion Opportunities: If you see a keyword is consistently driving good traffic, it might be worth exploring related long-tail keywords or new keyword opportunities. Adding variations or extensions to existing high-performing keywords can expand your reach without significantly increasing costs.

10. Use Keyword-Level Data for Granular Adjustments
Analyze Performance by Match Type: Review how keywords are performing under different match types (broad, phrase, exact) and adjust accordingly. For example, you may find that exact match keywords convert better and are more cost-effective, prompting you to shift your focus away from broad match types.

Segment Keywords into Ad Groups: Ensure that your ad groups are organized in a way that allows for granular bid adjustments. For instance, grouping highly relevant keywords together will allow you to adjust bids more effectively without negatively impacting the performance of other keywords in the same ad group.

Conclusion
Monitoring and responding to keyword performance trends over time requires a proactive, data-driven approach. By setting up regular monitoring systems, analyzing performance trends, adjusting bids dynamically, and using tools like Auction Insights and Search Query Reports, you can ensure that your Bing Ads campaigns stay optimized. Regularly revisiting your strategies, experimenting with bid adjustments, and staying informed about market and competitive changes will help you keep your campaigns efficient and responsive to evolving keyword performance trends.