One of the main success factors in any online marketing campaign is bidding.
Whichever bid strategy you decide to use will directly correlate with how well those campaigns perform. There are several bid strategies that Google offers, each one tailored to align with the marketing goals for your business and campaign type.
When setting the appropriate bid amount, there are some factors you need to keep in mind:
Performance – You need to make sure the bid amount is efficient for you, since they influence the visibility of your ads and the amount of interaction you get from them. Be careful not to miss any valuable conversions!
Auctions – Using manual bidding to set the appropriate bid can be challenging at times due to the dynamic nature of Google’s auctions.
User journey complexities – There are many signals which can influence the behaviour of users online. Their likelihood to complete a valuable action such as completing a sale or online form and their intent will vary greatly based on things such as their location, time of day and the device they are using, etc.
The aim of any single online marketing campaign is to reach the right user with the right message at the right time. Easier said than done, now the customer journey is becoming more and more complex. When we also take into account users span across multiple devices, setting bids based on a single users context can be testing.
What are the benefits of using automated bidding?
Machine learning – You can take a lot of effort and guesswork out of setting your bids because automated bidding uses machine learning which algorithmically helps to set the appropriate bid for you. Meeting your performance goals has never been more accurate and efficient!
Time saved – Automation will save a lot of your valuable time and ease the strain on your marketing resources due to it cross-referencing audience data to establish the intent of the user and set the appropriate bid.
Auction timed bidding – Google uses bidding algorithms which tailor bids to each users context, whist using relevant signals at auction time. This feature is unique as it allows for bid differentiation whilst maintaining the highest degree of accuracy based on the conversion opportunity of each single option.
Depths of signals used and cross analysis – Google’s algorithms can recognise and adjust for meaningful interactions between different combinations of signals as well as constantly considering new ones.
So, without needing to manually update bids for specific ad groups or keywords when using automated bidding, it’s safe to say your time can be better spent elsewhere.
Spend it wisely and succeed.