AdWords Preferred Price
Google is adding a new bidding option. An average preferred price. What this means is that you can add an option to bid around a certain price. So having a preferred bid of .50$ means that the bid can go over or under around that price.
Honestly it seems lately that Google is stretching and pushing to find any way it can to have advertisers spend more on ads rather than less. It is a neat addition, but its usefulness could be in question unless you want to make sure you are in 1st position.
Just my 2c.
Today, we are introducing a new bidding option called preferred cost bidding -- a feature designed to help you save time while achieving your advertising cost goals more consistently. Instead of setting a maximum cost-per-click (CPC) or cost-per-impression (CPM) bid, you can set a preferred CPC or CPM bid that represents the average price you want to pay.
For example, suppose you want to pay an average CPC of $0.50. Currently, you need to regularly monitor and adjust your maximum CPC bids to keep your costs at or around $0.50 per click. Using preferred cost bidding, you can simply tell us that you want your average CPC to be $0.50, and we'll manage your bids to reach that goal.
This feature will be released to all advertisers over the next few days. You'll find it on the Edit Campaign Settings page. For more information on preferred cost bidding, please refer to the FAQs.
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Posted By Inside AdWords crew to Inside AdWords at 4/17/2007 11:05:00 AM