If you decide to use an online marketing campaign to advertise your business, a key thing to remember is that you need to choose a bidding strategy that reflects your marketing goals.
Another great feature of Google Ads is that there are several bid strategies to choose from. Whichever strategy you do end up using will depend on whether your campaign is targeting the Search or Display Network and what it is you want to focus your attention on such as clicks, conversions, visibility etc.
When you know what your marketing goals are, you will be able to identify the right bidding strategy for you. Here are the different bidding strategies you should use, related to your goals.
If your goal is to raise brand awareness, this is the bid strategy for you! Using Target impression share will help to make sure your ads are meeting a certain impression share threshold for a specific location on the search results page whether it be the top of the page, the absolute top of the page, or anywhere!
If your aim is to drive as many clicks as possible within a target spend amount, you should use Maximise clicks. By doing so you can drive more click volume, use upper funnel keywords which have a higher assist value in conversion and maximise traffic at times when you have more budget you can spend.
If you want to focus more on conversions, there are a few different strategies you can choose from. Enhanced cost per click automatically adjusts a manual bid up or down for you, based on each single clicks likelihood that it will result in a conversion. You can use Maximise conversions if your aim is to drive as much conversion volume as possible within your set budget. For this strategy, you don’t have to provide a specific cost per acquisition, cost per click or return on ad spend. The last possible conversion based strategy is Target cost per acquisition. Your bids will be automatically set to help you increase your conversions as well as reaching your average cost per acquisition goal.
You would choose this bid strategy if you want to track the revenue you get with your conversions. By using Target return on ad spend, your bids are automatically set to help you get as much conversion value you can, whatever target return on ad spend you set.
Something to keep in mind though, Enhanced CPC, Target CPA, Target ROAS and Maximise conversions all fall into the category of Google Ads Smart Bidding. All of these bid strategies influence a specific set of signals to bid at auction time.
Hopefully we’ve given you something to think about when choosing the bidding strategy for your marketing campaign. The importance of using the right one is crucial to the success of your campaign from the get go, and no one wants to lose out on time, money, effort and otherwise! Now you should have a better understanding of the different bid strategies and when to use them, it’s time to go and outline your goals and align them to the best strategy for you.