Choosing a winning bid strategy in Google Ads can be a challenging task for many advertisers. There are many factors to consider, such as your campaign goals, budget, competition, and performance history. In this blog post, I will explain how to choose the best bid strategy for your Google Ads campaigns and what are the pros and cons of each option.
What is a bid strategy?
A bid strategy is a way of setting how much you are willing to pay for each click, impression, or conversion on your Google Ads campaigns. Depending on your bid strategy, Google Ads will automatically adjust your bids to help you achieve your desired results.
Google Ads offers mainly two types of bidding strategies which we can use
Manual bid strategies
Through manual bidding strategies, we can set target costs for our ads campaign, keywords, and ad groups. You have full control over how much you spend and how you optimize your bids. However, manual bid strategies require more time and effort to monitor and adjust your bids regularly.
Some of the manual bid strategies are:
Manual CPC: You set the maximum amount you are willing to pay for each click on your ads. You can also enable enhanced CPC, which allows Google Ads to increase or decrease your bids by up to 30% based on the likelihood of a conversion.
Manual CPM: You set the maximum amount you are willing to pay for 1000 impressions of your ads. This is mainly used for display and video campaigns that focus on brand awareness and reach.
Manual CPV: You set the maximum amount you are willing to pay for each view of your video ads. This is mainly used for video campaigns that focus on views and engagement.
Automated bid strategies
Automated bid strategies use machine learning and historical data to automatically set and adjust your bids to help you achieve your campaign goals. You can save time and effort by letting Google Ads do the bidding for you. However, automated bid strategies may not always perform as expected and may require some testing and experimentation.
Some of the automated bid strategies are:
Maximize clicks: Google Ads sets your bids to get as many clicks as possible within your budget. This is suitable for campaigns that focus on driving traffic to your website.
Maximize conversions: Google Ads sets your bids to get as many conversions as possible within your budget. This is suitable for campaigns that focus on driving actions on your website, such as sales, sign-ups, or leads.
Maximize conversion value: Google Ads sets your bids to get the most conversion value (such as revenue or profit) within your budget. This is suitable for campaigns that focus on driving high-value actions on your website.
Target CPA: Google Ads sets your bids to get as many conversions as possible at or below your target cost per action (CPA). This is suitable for campaigns that have a specific cost-per-conversion goal.
Target ROAS: Google Ads sets your bids to get as much conversion value as possible at or above your target return on ad spend (ROAS). This is suitable for campaigns that have a specific return on investment goal.
Target impression share: Google Ads sets your bids to show your ads on a certain percentage of eligible impressions. You can choose to target the top of the page, the absolute top of the page, or anywhere on the page. This is suitable for campaigns that focus on increasing visibility and awareness.
You should use bidding very strategically to get the best results, if your website is new then you should start with maximize click with maximum cpc after some time when you collect a lot of data through Google ads campaign then you can choose bdiing strategy as per your requirements because google works on data.
How to choose the best bid strategy for your Google Ads campaigns?
There is no one-size-fits-all answer to this question, as different bid strategies may work better for different campaigns, depending on your goals.
Read Also :- Google is experimenting to show more ads in search results page?
No comments:
Post a Comment