What are Google Ads Bids Strategies & How Can We Use Them?
Google Ads Bid Strategie s – 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.
• 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. • But it’s just a “bitter truth” that it’s not that easy to just go for “automated” and with a click we can cash out checks from google ad sales. • 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 Acquisitio n)
• 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 $20.
Target ROAS (Return On Ad Spend)
• Target ROAS also known as return on ad spend. The name speaks for itself, basically it’s how much value we get by conversion for every we dollar spent on pay per click Ads. People often get a little bit confused when it comes to this kind of strategy. • The reason is it requires some calculations. Unfortunately it’s a major step which often cause the marketers to run for. • For example: • We are running a Google Ads campaign, we are aiming for 12$ 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
Maximize Conversio ns
• Maximize conversion is considered one of the simplest type of Google Ads Bids strategies that could be offered. Its main goal is to gain more conversion while spending your daily budget. It helps us by automatically setting bids to attract more conversion while spending our total budget for the campaign. Example: • It can be considered like a student assigned as a group leader (Google) who is given a certain budget to spend on all the classmates. He won’t be a fool to go on spending the entire budget on his one friend (conversion). • It is suggested that to check your daily budget spent, is on a suitable level that we are willing to spend.
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.
Obsolete: Target Search Page Location
• Target search page location is basically aims to display your ads at the first pages of search results or ads to reach the top of the page. • Technically speaking in this strategy ads bids are increase and decreased automatically by Google ads to display them either on the first page or at the top of the Google search result. • But in June 2019 this bidding strategy was removed and replaced with “Target impression share” & by adjusting your bids for campaigns to get impressions.
Obsolete: Target Outranking Share
• Target Outranking share strategy was like an Ace card. By using it you can get your results above your competitors ads. • Like for example: If we are working with a Coffee shop, we would want our shop ad to appear above our competitor Cafe x. If we know that Cafe x has a strong keyword campaign, we would obviously bid hire to outrank them. So in result when people use keywords like “Black coffee in town” our Coffee shop who has the highest bid will show at the top of results.
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.