Loud Mouth Media is pleased to introduce Loud Mouth Live, our brand new video series! For the launch of the series, our PPC Team Leader Kevin gives you an insight into 3 main bidding strategies that you could be using in your PPC campaigns. Here's what he had to say!
Over the past 6 months, Google have advanced their Smart Bidding strategies and have really improved their algorithms, so what we’ve been doing during this time period is implementing 3 main Smart Bidding strategies across our client’s accounts. There are more bidding strategies available, however today we are only going to cover our top 3.
Ultimately, we have implemented these bidding strategies within our campaigns because the automation capabilities are excellent, and allow us to focus on more high-level account optimisation. For example, rather than focusing on bid management, we can focus on market analysis. Rather than focusing on ad copy, we can focus on different relevant audiences. It also allows us to focus on keyword mining and A/B testing. This opens up a whole lot of possibilities for advertisers, if implemented successfully.
The first bidding strategy we would recommend is Enhanced CPC – this has been around for years and we have been implementing it for years because it has always been best practice to do so for any new Search, Shopping and Display campaign. If you have limited conversion data in your account, it is certainly recommended that you apply this bidding strategy. We have found that it is best to start with Enhanced CPC as a Smart Bidding strategy as it will work from the manual bidding until there is enough conversion data for the ECPC to kick in.
The second bidding strategy we would recommend is Maximise Conversions, which is relatively new. It was released about a year ago, and the algorithm for this has massively improved since we began adding it into campaigns for our clients. For Maximise Conversions to be added, your campaign needs to be limited by budget to aggressively pursue conversions and focus less on Costs per Conversion. You might even notice fluctuations with your Costs per Conversion, as average Cost per Click fluctuates.
If you don’t have a Cost per Acquisition goal in mind, have at least 20 clicks in your campaign per day and want to aggressively pursue conversions, then Maximise Conversions really is the Smart Bidding strategy you should implement within your campaigns. With this strategy there is no need for bid adjustments across any device or ad schedule, it is fully automated. Google will look after all of this so you don’t have to.
If Cost per Acquisition is something you want to focus your goals on, then CPA bidding (Target CPA) is best for you. With CPA bidding, the campaigns do not need to be limited by budget, they can have spent 70% of their budget or less. However, Search impression share must be below 75% for Target CPA to be effective. What this bidding strategy does is focus on decreasing your Costs per Conversion.
With these 3 key bidding strategies, there’s something for everyone. Google is also working on plenty of other bid strategies that we will get our hands on soon to test out for our clients.
Need help with Google Ads? Get in touch with us for more information!