Managing common keyword lists for negative keywords and placements just got easier – and Google is conserving its machine cycles and systems resources again.
But having almost a million negative keywords because of duplicates across many campaigns is a big issue in terms of account management because of download times into AdWords Editor, so I changed my mind and now I am a converted enthusiast.
I have a client in the hotel industry who constantly creates new promotional campaigns, and unfortunately it's still a nightmare adding campaigns to a Negative Keyword list in the Shared Library – you have to manually add every single one instead of being able to filter, or having a simple "add all" checkbox (hopefully one day!). And the Shared Library has amnesia – it doesn't remember or show you what campaigns are already added.
So Shared Library lists are definitely a good thing and I hope they will take them seriously enough (maybe when more people use them) to make management of them much easier, and ultimately to include in the AdWords Editor.
As for machine cycles and system resources – even Google's infrastructure is finite and costs money to run, not least in air conditioning and hence Google's interest in energy costs and cold locations close to water for new data centers like a disused paper mill in Finland.
Shared lists reduce duplicate keywords (potentially many millions of them) saving disk space and CPU usage.
But use with caution! Negative keywords are the most powerful keywords going and will suppress positive keyword ad impressions where they overlap. Use the Diagnose Keywords tool periodically to check this if you constantly add new negatives (you should be).
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