Yahoo! sent out a mass mailing the other day to all (I think all) of their Yahoo! Search Marketing customers with news about the new ad platform, code named Panama. The email goes over new "terminology" that will be used throughout the new ad platform that is important for current advertisers to get accustomed to prior to the switch over.
Search Engine Watch Forums Moderator AussieWebmaster summarized the changes in five points:
1. Keywords still serve as your foundation. The keywords that describe your business can remain the same. These are still the connecting point between you and customers who are searching online.
2. Individual titles and descriptions will apply to multiple keywords. Titles, descriptions and URLs-known as "ads" in the new Sponsored Search-may apply to more than one keyword. This should cut down on the time you have to spend generating advertising messages.
3. Keywords and ads will be organized into ad groups. Ad groups can contain multiple keywords, along with up to 20 ads (titles, descriptions and URLs) that apply to those keywords. This will allow you to test multiple ads to find the message that works best with prospective customers.
4. One or more ad groups will make up a campaign. Campaigns may contain multiple ad groups. Some new features will enable you to set up geo-targeting, scheduling and budgeting at the campaign level. This should give you more control, and help ensure that your campaigns are working as efficiently as possible.
5. Your account will be comprised of all your campaigns. Your campaigns will make up your new Sponsored Search account, which will still apply to one market only, i.e., the United States (which includes English-speaking Canada). To advertise in more than one market, you will need to have multiple accounts.
Forum discussion on YSM at Search Engine Watch Forums.