What you know about automated bidding?
In Digital marketing world, everyone is aware of Manual Bidding. Manual bidding is a bidding method that lets you set your own maximum cost-per-click (CPC) for your ads.
At automated bidding, rather than manually selecting your maximum CPC for all of your ads, you rely on Google to adjust your bid in real-time. Automated bidding uses machine learning to maximize results based on your campaign goals.
Here are top 7 types of automated bidding strategies and their goals
- Maximize Clicks: Drives more traffic to your website
- Target Impression Share: Increase visibility on the first page of a Google search results page
- Target outranking share: Increase visibility over other websites
- Target cost-per-acquisition (CPA): Get more conversions with your target CPA
- Enhanced cost-per-click (ECPC): Increase conversions while staying in control of your keyword bids
- Target return on ad spend (ROAS): Meet a target return on ad spend (ROAS) when you value each conversion differently
- Maximize conversions: Receive more conversions while spending your budget
Before you implement any automated bidding strategy, always consider its merits and drawbacks.
Merits of automated bidding
- You can choose a strategy that works towards your goals as explained above.
- Saves time as you do not have to manually set bid amounts.
- Doesn’t need an in-depth knowledge about bidding process.
- Conversion rate is higher because of your set goal.
Drawbacks of automated bidding
- Sometimes you will encounter much higher bid than expected. Automated bidding is majorly preferred by companies with a flexible and/or large advertising budget.
- Google’s automated bidding requires historical data. So for new companies, automated bidding might not be the best strategy.
- You will still need to monitor if the bid strategy is meeting your desired goal.
Make the most of Automated Bidding….
Automated bidding has improved over the years, but it is still a little overwhelming. Automated bid strategies in Google Ads are a fantastic way to save time while optimizing for more conversions or clicks.
Even though automated bidding strategies require less maintenance, you have to monitor it to ensure they’re still accomplishing the goals they aimed for.