On Thursday, the Google AdWords team made this blog post announcing a new feature in the AdWords interface: spreadsheet editing. At first, I thought it was a pretty dull idea. I figured it was just a nice way for people used to PPC management in Excel to edit their accounts without having to bother with the AdWords Editor desktop tool. Big deal.
Then, they dropped a bomb. You don’t just input text and numbers into the spreadsheet fields. You can create formulas for each field. This is huge.
For example, instead of punching in a number for your keyword bid, you can punch in a dynamic formula. Want to make sure your keywords stay above position 8? Set your keyword bid formula to the “First Page CPC” cell times 150%. This is the kind of automated bid management people have been paying hundreds (if not thousands) of dollars a month for out of third-party tools. Sure, it’s not as granular as some of the third-party tools I’ve seen, but this method will do in a pinch for a lot of small to medium-sized businesses that can’t afford the tools. And it looks to be just as effective, provided you check up on your stats regularly.
I’m sure some fellow PPC geeks will be coming up with some other ultra-useful formulas soon. Got an idea? Let’s see them in the comments.