Automated bidding takes the heavy lifting and guesswork out of setting bids to meet your performance goals. Each type of automated bid strategy is designed to help you achieve a specific goal for your business.
Types of Bidding Strategies
There are total 6 types of automated bidding strategies.
- Maximize Click
- Target Impression Share
- Target CPA (Cost-Per-Action)
- Target ROAS (Return on Ad Spend)
- Maximize Conversion
- Maximize Conversion Value
Each strategy has it’s own use case. We use these automated bidding strategies for their associated goals.
Goals and their relevant bidding strategies
- When the goal is to increase website visit, we use Maximize Clicks. This strategy automatically sets your bids to help get as many clicks as possible within your budget.
Maximize Clicks is available as either a standard strategy in a single campaign or portfolio bid strategy across multiple campaigns.
Target Impression Share is available on the Search Network only, as either a standard strategy in a single campaign or portfolio bid strategy across multiple campaigns.
- When the goal is to get the more conversions, we use Target CPA (Cost-Per-Action). It automatically sets Search or Display bids to help get as many conversions as possible at the target cost-per-action (CPA) you set. Some conversions may cost more or less than your target.
Target CPA bidding is available as either a standard strategy in a single campaign or portfolio bid strategy across multiple campaigns and ad groups.
- This strategy is used when the goal is to get as much conversion value as possible at the target return on ad spend (ROAS) you set. Some conversions may have a higher or lower return than your target.
It’s available as a portfolio bid strategy and a standard strategy for individual campaigns.
- When the goal is to get more conversions while spending your budget, we use Maximize Conversions bidding strategy. This bidding strategy automatically sets bids to help you get the most conversions for your campaign while spending your budget.
- When the goal is to get more conversion value while spending your budget we use Maximize Conversions Value bidding strategy. It helps you get the most conversion value for your campaign while spending your budget.
Benefits of Automated Bidding Strategies
Google Ads automated bidding is the best solution to efficiently account for all available signals to help improve performance. Following are the benefits of Automated Bidding Strategies.
- Machine Learning: Automated bidding uses machine learning to algorithmically help you set the appropriate bid for each and every auction. This takes much of the heavy lifting and guesswork out of setting bids, so you can meet your performance goals more efficiently and accurately.
- Time Saved: Cross-referencing audience data with context to establish intent and set the appropriate bid is a complex and time-consuming task. Automation offers a way to alleviate this strain on marketing resources.
- Auction – time bidding: Google Ads’ bidding algorithms tailor bids to each user’s unique context, using relevant signals present at auction time. This is a unique capability in the market, as it allows for bid differentiation, with a high degree of precision based on the conversion opportunity of each auction.
- Depth of signals used & crossed analysis: Google Ads’ algorithms integrate a large variety of signals and consider new ones to evaluate user intent. They also go a step beyond traditional signal analysis by recognizing and adjusting for meaningful interactions between combinations of signals while constantly considering new ones.