If you've been in need of an explanation of keyword match types for your PPC campaign, you're in luck. The adCenter Advertiser blog has published a post that offers up a detailed explanation of keyword match terms as well as some tips for your paid search strategy. Let's dig in:
Exact match - Your ad only shows for an exact match of your keyword phrase. so if you're bidding on "big red dog," then your ad only shows up if someone searches for that exact phrase
Phrase match - This is when your ad will show up for a phrase that contains your keywords. For example, if someone searches for "big red dog for sale," then your ad will show up.
Broad match - In this scenario, your ad will show up if the three words in your keyword phrase are in any search. So if someone searches for "red house with a big yard for a dog," then your ad will show up. Also, adCenter will sometimes expand to include "puppy" to maximize your searches.
Lauren Taft-McPhee, author of the blog post, recommends bidding on all three match types unless you have a very narrow target audience. In that case, you might want to use exact match only, though she advises that your traffic volume will be low despite the better quality.
Once a bidding strategy is in place, Taft-McPhee recommends running a keyword performance report and including the "delivered match types" column. This will help you know if your keyword is matching up with what searchers are querying.
When you've established a bidding strategy that maximizes ROI, then you might try bidding on the adCenter content network to extend your paid search reach even further.
Like organic optimization, paid search should be monitored on a consistent basis. Be prepared to make tweaks as needed due to changing search queries and bid competition.