What are Google Ads Bids Strategies & How Can We Use Them?
Google Ads Bid Strategies – Intro
• We are all well aware of the fact that it’s a risky move to step in the ground without a game plan. Therefore it’s a smart move to go for the right path by picking the right type and solid Google ads bids strategies. • With a good game plan we can “sail our ship to victory” by having a successful campaign or by wasting our time with zero knowledge of what we are doing. We can go crashing down and blow off our budget with some clicks. That option is in our hands! Just slight changes in our bidding strategy can help in sky rocketing the conversions.
Google Ads Bid Strategies – Intro
• A question is raised every time we are launching a new campaign that what type of Google ads bids strategy would you go for: • Automated? Or Manual? • People mostly intend to go for “automated” rather than “manual” bidding because of the extra hassle in adjusting bids all the time and mostly they are running multiple campaigns. • There’s always more to a story. There are a number of different strategies available with whom we should be aware of.
Target CPA (Cost Per Acquisition)
• Target CPA helps us by providing us more control over automated bidding. It helps to raise conversions. It’s basically a bidding strategy that helps us in setting bids to get as many conversions we can get according to cost per acquisition we set. In simple words we can say that the amount of money we can afford on obtaining a single customer. • Its example can be quoted as: • If we select a target CPA of $20, Google ads will automatically set your bids and try to get us maximum conversions on an average of $20.
Target ROAS (Return On Ad Spend)
• Target ROAS also known as return on ad spend. The name speaks for itself, basically it’s how much value we get by conversion for every we dollar spent on pay per click Ads. People often get a little bit confused when it comes to this kind of strategy. • For example: • We are running a Google Ads campaign, we are aiming for 12$ for every 3$ we spent. • To perform that calculation will use this formula: • Sales ÷ ad spent × 100% = Target ROAS • So end result after using this formula would be in this form: • $12 in sales from campaign ÷ 3$ ad spend (clicks) × 100% = 400% target ROAS
Enhanced Cost Per Click (ECPC) • Just like we talked about before, there are two types of bidding: ‘automatic’ and ‘manual’. But here’s a totally new concept: enhanced cost per click is a combo of both types. • It’s also known as a form of smart bidding which aims to raise your Pay per click efficiency and increase your profits while automatically increasing or decreasing bids on Google Ads.
Manual CPC Bidding • This type of bidding strategy might grant you the control over your bidding but just like they say, “Everything comes with a price” and the price you gotta pay here is your Time. Because it’s a little time consuming. But on the other hand it does let you put the highest amount that you could pay for each click on your ad.
CPV Bidding, (Cost Per View) • CPV also known as cost per view is solely used for video advertisements on Youtube or Google Ads. Well CPV is a method of charging on a video advertisement depending on the number of interactions or views it gets. CPV ads creates a platform for digital marketers to connect with the right audience and to build a healthy consumer relationship and in creating brand awareness.
Target Impression Share Bidding • Before starting on what target impression share bidding is? It’s first crucial to know what impression share is? • So speaking about impression share it’s the percentage of impressions received by your ad compared to the number of total impressions your ad is eligible for. • It can be taken as, Impressions / total impressions eligible.
Conclusion
So when launching any sort of new campaign on Google ads, make sure to use the best strategy and bidding format because there are a lot of options to go for and it sure ain’t easy.
A right move can set you up to sky rocketing to success and on the same hand if your not careful in making the right decision you can end up crashing down, and breaking your campaign. So, before selecting any Google Ads Bids strategies make sure your are well aware of your goals.