Setting the bid is a complex but essential task. However, you can take help from automated bidding. Google Ads offers some strategies created to achieve marketing goals and types of campaigns.
Depending on your goal, you can choose the right bidding strategy based on awareness, consideration, conversion or revenue. And even if you use a third-party management solution, you can get its benefits implementing the automated bidding strategy.
Key factors to keep in mind
Automated bidding strategies affect aspects of your campaign, such as performance, auctions and a user’s journey.
Bids influence the visibility and the quantity of interaction you get in each moment. If you don’t fine-tune your bidding, you could miss valuable conversions. Given the dynamic nature of Google Ads auctions, the appropriate bid can often be challenging to reach at scale when done manually.
A variety of signals influence user behaviour. Their likelihood to complete valuable actions for your campaign can vary based on location, time, device, and more. Taking all these signals into account for every auction and bidding can be done through automation.
Benefits of automated bidding
Google Ads automated bidding is the best solution to improve your campaign performance, taking into account the complexity of today’s user journey across multiple devices and contexts. The essential benefits are:
- Machine learning: the machine learning algorithm takes much of the heavy lifting and guesswork out of setting bids so that you can meet your performance goals more efficiently and accurately on each auction.
- Time-saving: automation facilitates cross-referencing audience data with context to establish intent and set the appropriate bid, which is a complicated and time-consuming task. Google Ads also go a step beyond traditional signal analysis by recognizing and adjusting for meaningful interactions between combinations of signals.
- Auction-time bidding: this is a unique capability in the market, as it allows for bid differentiation, using relevant signals present at auction time. The result is a high degree of precision based on the conversion opportunity of each auction.
The bid is a crucial success factor for Google Ads campaigns, and the bid strategy has a significant impact on how your campaigns perform and how visible your ads are in the unique moments that are important to your business. What about automating this?