![]() Using the AdWords control panel, advertisers can enter keywords of interest, and Google offers to place ads on what they claim are relevant sites within their content network. In 2003 Google introduced site-targeted advertising. It is similar to the Vickrey auction, but is not equivalent to the Vickrey-Clarke-Groves (VCG) mechanism and hence truth telling is not an optimal strategy. The auction mechanism that determines the order of the ads has been called a "generalized second price" auction. The precise formula and meaning of relevance and its definition is in part secret to Google and whose parameters can be dynamically changed. The quality score is also used by Google to set the minimum bids for an advertiser's keywords. The quality score is calculated by historical click-through rates and the relevance of an advertiser's ad text and keywords, as determined by Google. The ordering of the paid listings depends on other advertisers' bids (PPC) and the "quality score" of all ads shown for a given search. ![]() When a user searches Google's search engine on (or the relevant local/national google server ), adverts (also known as creatives by Google) for relevant words are shown as "sponsored links" on the right side of the screen, and sometimes above the main search results. Pay-Per-Click advertisements (PPC)Īdvertisers specify the words that should trigger their ads and the maximum amount they are willing to pay per click. ![]()
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