The New Bidding Strategies Introduced By Google Ads
Updated: Aug 26, 2019
Online advertising is one of the most efficient and cost effective ways to reach out to potential customers. Unlike the traditional forms of advertising which are mostly broadcast in nature and utilize mass media, adverts on the web have introduced a whole new method of raking in the customers by displaying targeted ads which instead of being intrusive and irritating like traditional adverts, provide value to the consumers while improving the ROI of the business in question.
Of all the methods and tools that are part of the online marketing services, Google Ads is without doubt the biggest one around. With ad revenues of over $116 billion (source: statista.com), Google Ads is the go-to solution for all your online PPC (Pay-Per-Click) marketing needs. All one needs is a Google account through which they can log onto the Ads online dashboard. Then the advertiser, or their PPC management services, fine tunes the ads campaign and sets a bid amount, which is essentially the maximum amount your business is willing to pay Google for every click on your ads.
Sounds easy enough, right? Well think again.
Google Ads Bidding Strategies
Google Ads bidding strategies probably constitute the most confusing aspect of the entire Ads experience for business owners and pay-per-click advertising services alike. The bidding strategies determine the amount you are willing to pay for your advertising campaign, and also how that particular amount will be utilized to maximize your ROI (return on investment).
Bidding strategies can be either manual or automatic, and your choice of bidding strategy should be determined by your target goals and your available time and budget. Choosing the appropriate bidding strategy can spell the difference between the success and failure of your Google Ads campaign. As a result, most businesses choose to leave this complex task in the hands of an experienced PPC management company.
Google Ads provides advertisers with a large number of bidding strategies to choose from as per their needs. Below are explored some of the latest bidding strategies that have been introduced by Google Ads. Seasonality Adjustment Strategy
As every business owner knows, the traffic and sales of any business depends on the seasonality, i.e., the time of the year when you are in business. While festivals and holiday seasons account for a spike in sales, other times can see a lull in the amount of transactions taking place. The new Seasonality Adjustment bidding strategy by Google Ads allows the PPC services to set up campaigns with a greater amount of seasonality control, on top of existing smart bidding strategies. This feature allows advertisers to control ads for impromptu events and promotions that are meant to last for a limited period of time only.
Using this bidding strategy allows advertisers to make the best use of available budgets and at the same time take advantage of seasonal opportunities for enhancing the performance of their business.
Smart Bidding Strategies
Smart Bidding Strategies refer to a collection of automated bidding strategies that make use of machine learning. These bidding methods include Target CPA (cost-per-action), Target ROAS (return-on-ad-spend) and Enhanced CPC (cost-per-click), which is suitable for PPC remarketing campaigns. These strategies use advanced artificial intelligence techniques to evaluate a huge range of relevant factors before placing your ad bid in order to maximize your target performance.
While these bidding strategies work for businesses of all sizes, they require at least 30 days worth of conversion data for delivering optimal results.
Look Before You Leap
When it comes to choosing the right bidding strategy, even the most seasoned pros can feel themselves at a loss. While some may choose to opt for manual bidding strategies to ensure greater control, others may go for the convenient and hassle free route and select any automated strategy. Ultimately the choice of bidding strategy that is most suited for you is determined by your target goals and the amount you are willing to spend. Wise use of Google Ads can ensure that your business gets the amount of traffic it deserves. So if you want to take advantage of this exciting platform, talk to your PPC management services today.