Google have launched a bid simulator today as part of the new AdWords interface that can show you what impressions or clicks you would expect to receive if you use different maximum CPC bids before going ahead and actually implementing them. This new element could rid all the hassle with trial and error we have come so accustomed to over the years.
The bid simulator - which is currently only available on Google.com and the search network - uses data from the past seven days to re-calculate the number of impressions and clicks in which your ad could have received had you had chosen different maximum CPC. It also lets you know how much all these clicks would have cost you.
The announcement from Goggle which was made on the AdWords blog also states that the new bid simulator “can help you figure out the trade-off between click volume and cost” which will help you answer questions on how to increase your sites traffic whilst keeping your costs under wraps. Google also states that the simulator is also good for understanding which keywords you should alter your spend for. To help explain the new feature a bit more Google have also released a video which goes into a bit more depth.
Google states that the bid simulator cannot predict the future so instead using hindsight should allow you to make better judgments later on. As yet I have only briefly looked at the tool and it does look pretty handy however only time will tell if it will rid us of arduous trial and error but I have an inkling that it probably won’t.