Many people around the globe are complaining that the CPC prices in Google AdWords has sky rocketed without any warning. Some days back we reported that Google Changes AdWords Algorithm, Shares Quality Score. A bug had released right after Google's new AdWords quality score, this bug has been verified by Google, this bug increases the bid price of fine doing keywords and ads for no reason at all.
For the last month it's been working well at about 26p per click on average. However, for some reason today all my campaigns ground to a halt saying I need to increase my minimum bid to £5.00. I did so tentatively to see what would happen and I was getting clicks at stupidly high amounts – £3 plus.
I've had about 20 keywords go to the £5.00 minimum today, all others stayed the same. These keywords were ok at 15p yesterday.
I'm also seeing keywords go inactive, increase min. bids to $10.00. But these inactive keywords are still showing up for searches.
I had a group of keywords that we were spending $200/day on go inactive and require a minimum bid of $10 to reactivate. No one else is bidding on these keywords anymore so I bet they're also having the same problems.
Jeremy Mayes has reported receiving a confirmation:
Unfortunately, due to a technical issue, you may notice that the minimum bids for some of your keywords increased dramatically, despite them being high performing, good quality keywords. This is a temporary issue that our engineers are aware of and they are working to resolve it as soon as possible. I am sorry for any inconvenience.
However, Google does not clearly mention the time they would take to correct all the errors which is making the users worldwide pretty restless.