Bidding strategy types
As a retailer, you probably know Google Ads platform. In Google Ads, there are several bid strategies that are tailored to different types of ads and campaigns. It’s important to know on which networks your campaign is focusing. Also, you need to know if you want to get more clicks, impressions, conversions, or views.
Decide your goals
As we said, Google Ads offers different kinds of bid strategies. Google also suggests you consider five basic types of goals.
If you want more sales and direct action on your site – You need to use conversion tracking so you can track them. Smart Bidding is the best for this option.
If you want more visitors – Cost-per-click (CPC) bidding should be the best one for your campaign.
If you want to improve your brand awareness – Focusing on impressions should be the best strategy for you. You can use cost-per-thousand viewable impressions (vCPM) in Google Ads.
If you have video ads and want to increase interactions or views – The best strategy for you should be cost-per-view (CPV).
If you have video ads and want to increase brand consideration – You should use CPV too.
Google also offers automated bidding strategies
In Google Ads, you can use automated bidding, Smart Bidding, manual bidding strategies. There are really many of them.
What are Google Ads automated bidding?
This strategy is a bid strategy designed to maximize results based on your campaign goals. With automated bidding, the system automatically sets bid amounts based on the likelihood that your ad will result in a click or conversion.
There are several strategies:
Maximize clicks – Increase site visits
Target search page location – Increase visibility on the first page of a Google search results page or show in one of the top positions
Target outranking share – Increase visibility over other websites.
Target cost-per-acquisition – Get more conversions with your target CPA
Enhanced cost-per-click – Increase conversions while staying in control of your keyword bids.
Target return on ad spend – Meet a target return on ad spend when you value each conversion differently.
- Maximize conversions – Receive more conversions while spending your budget.
Google’s automated bidding presents a fantastic opportunity to save time while optimizing for more conversions, clicks or anything your desired goal may be.