Choosing a Bidding Strategy can be an intimidating task especially when there are multifarious factors that one must ponder upon before proceeding.
But don’t you worry, because we are here to take you through this quick guide on everything you need to know about various kinds of bids and how you can utilize each of them for different end results.
If you are an up and coming brand trying to manage everything on your own, or a digital marketing agency in India, you might want to watch out for this one!
Keep on reading to learn more!
Google Ads Bidding Strategies:
Google Ads Currently Has 11 Different Bids That You Can Use for Different Goals
- Target CPA (Cost Per Acquisition)
- Target ROAS (Return On Ad Spend) (Return On Ad Spend)
- Maximize Conversions
- Maximize Conversion Value
- Enhanced Cost Per Click (ECPC)
- Maximize Clicks
- Manual CPC Bidding
- CPM Bidding (Cost Per Thousand Impressions)
- CPM Bidding (Cost Per Viewable Thousand Impressions)
- CPV Bidding, (Cost Per View)
- Target Impression Share Bidding
Target CPA (Cost Per Acquisition)
The target cost per acquisition determines the optimal cost-per-click (CPC) for each auction that the user runs. Target CPA is a google ads smart bidding strategy. Google uses machine learning & data to optimize campaigns that set bids to help get as many conversions as possible at the target cost-per-acquisition (CPA) that you set
Target ROAS (Return On Ad Spend) (Return On Ad Spend)
Return on advertising spend (ROAS) is a marketing standard that measures the effectiveness of digital advertising campaigns. Roas helps online companies reach goals. Which methods are working and how they can improve their advertising activity in the future. Google uses historical data to optimize your campaign and reach the goal you set.
Maximize conversions set bids to get the highest number of conversions on your budget, based on historical campaign performance and data. Maximizing conversions is not an ROI strategy that asserts that google can spend budget and get as many conversions as possible.
This Strategy can be particularly useful to scale a company and thus hiring any credible google ads agency India has, is what you might need to look into if you are serious about taking your brand to new heights.
Maximize Conversion Value
Maximizing conversion value bids attempts to get the highest conversion value for a particular budget. The data with high conversions may have higher bids than auctions with low conversions.
Enhanced Cost Per Click (ECPC)
Google ads auto-optimized CPC is a type of smart bidding that is not fully automated and thus the user has more control over it. The goal of this bidding strategy is to automatically increase or decrease the manual CPC bids for auctions that reach more people to be converted by the customer. Your average CPC does not fall below the set maximum CPC.
Maximize clicks is an automated bidding strategy that helps you generate as many clicks as you can within your budget. Adwords will try to give you an approximate click to your goals can define this for campaigns or set it as a portfolio bidding strategy and apply it to multiple campaigns.
Manual CPC Bidding
You can use the manual cost-per- click (CPC) offer to set the maximum click cost for your ad. This bidding method is cost-effective because you only pay if your viewers are interested enough to click on your ad.
CPM Bidding (Cost Per Thousand Impressions)
A Bidding Method That Pays for Every 1,000 Views (Impressions) on the Google Display Network.
Viewable CPM (VCPM) Bids Are Only Charged When the Ad Is Displayed. Existing CPM Bids Are Automatically Converted to VCPM. However, We Recommend That You Update Your Bid, as Visible Impressions May Be More Valuable.
CPV Bidding (Cost Per View)
Cost-Per- View (CPV) is a way to charge for video ads based on the number of views or interactions the ad receives. CPV advertising opportunities are a valuable consideration for brands looking to increase awareness by providing a platform for interacting with an audience related to e-commerce merchants.
Target Impression Share Bidding
Goal impression rate is an automated bidding strategy when you set your bid and google tries to show your ad at the top of search results.
Conclusion Now that you have a better insight into the world of Google Ads, it’s time to implement all this knowledge and information into optimizing your bidding strategies by yourself! so that you don’t have to think to yourself “Do I need to Hire a Google Ads Agency Near me?” or if you want to focus on your brand and do what you do best to keep the authenticity alive without getting lost in all the technical mumbo-jumbo, you can simply hire one to work for you!