Best Bidding Strategies
In this article, we are going to dive straight away into some of the best bidding strategies when it comes to Google Adwords. Let’s get started!
Manual Bidding
The manual type of bidding happens to be the most basic bidding strategy. As the name suggests, it happens to include A-Z manual work. In this case, advertisers will need to set their bids at the group level or keyword level manually. Now, if you are someone who wishes to give the same bid to all the keywords then try opting for the group bid level. On the flip side of things, if you want an even higher level of control then consider individually assigning bids to keywords. Note that if you wish to save time and get access to detailed data points then this type of a bidding strategy is not for you. Instead, consider using automatic bidding.
Enhanced CPC
This strategy is quite similar to that of manual bidding. However, you need to give Google control of adjusting the keyword bids. Enhanced Cost Per Click algorithms can either increase or decrease the bids. The primary focus of Google will always remain to keep growing the click-through rate (CTR) and conversion rate (CVR). However, it definitely tends to come with the expense of an increase in cost per click. ECPC, almost in all the cases, tends to increase the bids more often than lowering it.
Maximizing Conversions
This is what complete automation is according to Google. Advertisers needn’t set any individual keyword bids. Instead, they only need to select the desired outcome or objective of an advertisement. In the case of this strategy, advertisers simply need to allocate daily budgets after which Google takes care of the rest by consuming it completely. Also, make sure that you are not using a shared budget for this campaign. If you are, then you will end up spending it completely.
Target Cost Per Acquisition
When advertisers opt for using the target Cost Per Acquisition (CPA) strategy, they need to set a target cost per conversion or acquisition. After that Google, by leveraging its automated algorithms, tends to adjust the bids accordingly. The algorithm’s main focus when it comes to target CPA always remains to generate as many conversions as possible within the pre-defined budget. Take note of the fact that it will not at all work for individual keyword-level bids. Thus, it means that this particular strategy is meant to be exercised at either the campaign or portfolio level. Also, another bonus tip is to not testing target CPA if you do not have a minimum of at least 40-50 conversions data in the past 30 days.
Target Return On Ad Spend
When it comes to this particular strategy, Google Adwords tends to adjust all the bids in real-time against the target ROAS. The Google algorithm, by predicting future conversion, tries to maximize the conversion value in the present.
This brings us to the end of our discussion on the best bidding strategies for Google Adwords. Now, let us know some of your personal strategies for doing the same.
