Agencies, resellers and small businesses dependent on radius targeting have long asked us for local insights that could help them improve concentrated ad efforts.
Imagine knowing exactly how many impressions and clicks your business in Seattle is getting, or your click-through rate for locations in New York, and even costs per click from searchers in just the Manhattan area. What if you could also compare those numbers to volume in Chicago? With such a holistic view of the market landscape by geography, you could be one savvy, efficient advertiser for all of your locations!
We're happy to announce that Bing Ads now provides this level of data; all you have to do to get it is download the Market Sizing Dashboard from our Agency Hub and open the Excel file. Then pick one of the seven reports from the top menu. Data is currently available for the months of January through June 2014 and will be refreshed quarterly.
To get started, pick one of the reports from the top menu.
Month-Over-Month (MoM) KPIs
This report provides a six month view for basic key performance indicators (KPIs): impressions, clicks, cost per click (CPC) and click-through rate (CTR). Use the controls in the left navigation pane to select a preferred Designated Market Area (DMA), vertical and sub-vertical.
In the screen shot below, the blue line represents the selected DMA and the red line shows national numbers for comparison.
DMA CTR and CPC comparisons
These two reports compare multiple sub-verticals within one primary vertical.
In this example chart, we are looking at CTR values for different sub-verticals in the Retail vertical in the Houston area. You can also bring in multiple DMAs for easy comparison, as shown below, where we added Austin and Dallas to the report. The numbers of sub-verticals can be increased or reduced depending on your needs.
CTR can also be compared for any DMA against the national average from the main menu by choosing the DMA CTR vs. U.S. CTR report.
% of Clicks and % of Conversions vs. % of Population Comparison
These charts show the percentage of clicks (or conversions) within the selected DMA as compared to the population percentage for that DMA.
By adding population data from Nielsen Net Ratings, you can compare the percentage of clicks coming from a selected DMA vs. population size. The example below shows 2.09% of all people in the U.S. live in the Atlanta, GA metropolitan area. This number is reflected by the red line on the chart.
The blue bars show the actual click percentage (out of all Bing Ads clicks) for selected sub-verticals coming from this area. If the blue bar reaches above the red line, the click percentage is actually higher than the population percentage meaning we are seeing more clicks coming from this area than expected based on population size. Using these charts will help you make educated decisions on where to align your budget most effectively.
The same report is available for conversion percentage. However, for the conversion report we only included accounts where conversion tracking is enabled. For these two reports we recommend you use only one month of data and limit to one DMA.
Conversion Efficiency & Click Comparison by % of Population
This view combines market size, click and conversion rates in one view. Conversion rates line the vertical axis against the CTR on the bottom axis. The size of the bubble reflects the market population size.
In this example, New York is the biggest market with the most clicks, but metro areas like Chicago or San Francisco show better conversion efficiency.
Note: After selecting DMAs or verticals from the slicers you need to click “update chart” to see the refreshed visualization.
Executive Summary Report
If you are interested in raw numbers only, please go directly to the “Executive Summary” report. This summary shows you click-through and conversion rates vs. population percentage, CTR and CPC against the national average and additionally the sub-vertical within highest CTR, lowest CPC and highest conversion rate within the selected DMA.
Note: DMAs across all charts are based on Nielsen Net Ratings’ total population data, so some DMAs may include multiple cities, e.g. Dallas/Fort Worth or San Francisco/Oakland/San Jose. All other data are based on internal Bing Ads reporting based on geo-location of users.
We hope that by sharing these local insights we will help you further optimize your campaigns at a neighborhood level. For any questions or suggestions, please contact firstname.lastname@example.org.
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NOTE: The information contained in this blog post is intended for agencies and advertisers that are self-managed or supported by Microsoft. If you are an agency or advertiser managed by Yahoo, the details therein may not be applicable, and you are encouraged to contact your Account Representative for more information.