There are several bid strategies that google offers that are tailored for your marketing goals and different type of campaigns. You need to choose the right one which suits your business.
What is Automated Bidding?
It’s an important key factor for online marketing.
Choosing the right bidding strategy directly affects the google Campaign that needs to be performed efficiently to help grow the business.
Your ads depend more likely on the bidding strategy that you will choose and which directly helps to decide whether or not your ads will be shown at the right moment to the customers or not.
Setting up a bid is challenging.
Setting up a bid is challenging. There are some facts that affect a bid:
Performance of a bid that affects the CTR and how your ad is performing at that right moment. No efficient bid means no good conversion rate.
Manual biding is challenging to get a high scale reach even though the google system has a dynamic auctions method.
By automation method, in each auction, the bidding complexities must be much easier to handle as it gets the right signal from the user at the right moment, from the right location, and devices to drive actions and convert it to conversion.
How automated bidding helps our buisness goal?
Automated bidding helps improve the performance of search by placing the right search results in front of a user.
Google Ads automated bidding is the best solution to efficiently account for all available signals from the customers to help improve performance.
An automated bidding system works based on a machine learning algorithm that sets the appropriate bid for each and every auction automatically.
This reduces the complexity of the bidding process thus making it work efficiently and accurately to reach the business goals.
This machine-based bidding system saves a lot of time making the task much easier.
During auction time, the bidding algorithm tailors bids to each user’s unique context using relevant signals present at that exact auction time which helps in conversions.
Types of Bidding Strategies
Awareness-based strategy ~
This strategy builds awareness of your brand campaigns. You have to set the ad to certain queries and specific locations to reach your targeted goal for the business to grow.
This helps make sure that your ads are meeting a specific impression share threshold for a specific location on the search results page: anywhere, top of the page, or absolute top of the page.
Consideration ~ Focussed bidding strategy.
- Budget-constrained campaigns focused on driving clicks
- Drive more click volume
- Maximize traffic when extra budget is received
- Upper funnel keywords that have high assist value in conversion
Conversion-focussed bidding strategy ~
If your goal is to reach maximum conversions then this strategy is going to be perfect for your business.
If you are looking for post-per-click action, and conversions through this Bid strategy then choose from one of the bid actions given below.
Maximize conversions:
Drive the maximum amount of conversions within your limit without spending a specific cost per click (CPA), or per click acquisition(CPC). Use Cases like if the Advertisers that want to spend a fixed budget and don’t have an explicit CPA/ROAS goal
Target cost-per-acquisition (tCPA):
This strategy automatically sets bids to help you increase conversions while reaching your average cost-per-acquisition goal. Maximize the number of conversions, without considering order value — such as lead generation and eCommerce businesses.
Enhanced cost-per-click (eCPC):
For Search results.
This strategy automatically adjusts your manual bid up or down based on each click’s likelihood to result in a conversion. This is for the advertisers who want to set the bid manually or by the third-party bidding tool with the added layer of real-time optimization.
For Display,
This is for advertisers who do not have conversion tracking, use a third-party bidding system, or set bids manually with an added layer of real-time optimization. It’s also great for lead generation and to drive online sales.
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