Bidding Strategies Guide for Beginnersby Rishab Malik Digital Marketer
Hello friends, Every bidding strategy has unique importance as per the user requirement. You can adjust them as per your requirements. Many businesses use Google ads because they know this era is about the digital marketing. as a comparison to traditional marketing, this method is more productive.
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It's easier when you already know the analytics chart about the customer behavior. A great analysis will never spoil your money. thorough smart bidding you can save your lots of money in the Advertisement sector. Just you need to know which aspect of the audience needs more remarketing. Let's focus on bidding strategies-
- Target Cost per Acquisition
- Targeted ROAS (Return on Ad spend)
- Maximize Conversion
- Enhanced Cost per click
- Maximize Click
- Target Impression Share
- Cost Per View
- CPM Bidding (Cost per thousand impressions)
- vCPM Bidding (Cost per view-able thousand impressions)
Target Cost per Acquisition
For running this strategy you need some conversions to activate this strategy. This is also known as conversion optimizer because this automatically optimizes the amount to grab an individual customer.
Target ROAS (Return on Ad spend)
In this google will set your bids to maximize conversion value based on the return you expect from your ad spend. You can start it with a lower goal with previous performance. sales/ad spend x 100 = target ROAS.
In this strategy, Google optimizes for high volume of conversion as compared to current conversions. In this advertiser can't set any keywords by itself. It's fully automatically operated by Google.
In this strategy, google focuses more clicks as compared to conversion. This strategy gets a high volume of visitors for awareness or branding. If you have restrictions about the investment money then please don't choose this strategy otherwise it will spoil your all money to get unwanted clicks also.
Enhanced Cost per click
In this strategy, Google has the freedom to increase or decrease your bids by 30%. The main benefit of this strategy is increased Click through rate & conversion rate. It also increases Cost per Click & Cost Per Acquisition to ensuring that results are still profitable.
Target Impression Share
In this strategy, you are setting a goal to acquire a customer through targeted impression share percentages. You can set the maximum cost per click for converting impressions into valuable clicks.
Cost Per View
From this strategy, you tell the google how much you will pay for each view. You only pay for video views & interactions like call to action, cards & companion banners. total ad spend / total measured views = Cost per view.
CPM Bidding (Cost per thousand impressions)
In this strategy, you have to pay only for a thousand impressions even they are not visible but recorded. Google only counts those impressions which are viewable.
vCPM Bidding (Cost per view-able thousand impressions)
In this strategy, you have to pay only for viewable impressions. If your ad shows 50 % of the image or your ad is played for 2 seconds or longer in video ads. It only available in display ads not in search ads. Your bids are become more view-able to favor ad slots with the help of this bid optimization.
As per the above automatic strategies you can run a successful ad campaign for any kind business. Every business needs different types of campaigns as per their requirement or which one is more effective for their business pattern. If you don't know much about the business or strategies go for manual strategies option in starting to gather audience data for better understanding. Keep do testings & analyze the best strategy.
Created on Feb 22nd 2020 07:11. Viewed 66 times.
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