If you are here, you already know what Google Ads
is and how it can help you grow your business online in 2022.
But what you might not know is that Google Ads has an 8:1
That’s probably the reason why 80%
of global businesses trust Google Ads for their PPC campaigns
Now, it isn’t like business owners are making $8 for every $1 they spend on Google Ads by trial and error or sheer luck.
They, of course, have Google Ads strategists
who optimize their bidding strategies
Small businesses and startups might not have access to that kind of deep pockets.
You also cannot leave everything else to learn PPC and optimize your campaigns.
To help you, though, Google offers automated bidding
With automated bidding you can just let the Google bots know:
- Your goals from the Google Ads campaign.
- The minimum and the maximum amount you want to spend.
Based on that, your Google Ads bid will be automatically optimized for the best results.
All you have to do is select the right bidding strategy to spearhead your business progress.
In this article, we will cover the key Google Ads bidding strategies
that you can use.
Let’s jump straight in.
10 Google Ads bidding strategies to try for business growth
- Enhanced CPC (eCPC)
When you run a Google Ads campaign, the chances of conversion are based on a lot of factors. These primarily include past searches, search intent, location, demography, etc.
And who knows all this better than Google itself?
With eCPC, Google adjusts your bid based on the probability of conversion.
That means if Google thinks that a conversion is likely, your cost per click (CPC) bid is increased by up to 10%. Contrarily if the probability of conversion is low, the CPC bid is slashed by up to 10%.
Using the Enhanced Cost-Per-Click strategy is ideal when:
- You don’t want to lose conversions due to a low bid.
- You don’t want to lose money due to a higher bid amount in low conversion possibility situations.
- Maximize Clicks
With this strategy, Google calculates bid amounts in a way to maximize clicks. Thus, bringing traffic to your site. And it is done while staying within the budget that you set.
The Maximize clicks strategy can be used for single campaigns. Plus it can be used as a portfolio bid strategy for multiple campaigns.
And you can set a daily budget and the max CPC limit.
That way, you remain in charge of how much you spend without having to manually set the bid price.
To maximize ROI with the Max CPC bidding strategy make sure your website is optimized for lead generation/conversion. Otherwise, those who do click on and visit your website will bounce back without yielding any revenue for you.
- Maximize Conversions
Have you run Google Ads campaigns before? Is your ultimate goal to get conversions? Maximize Conversions is the right strategy for you then.
For this bidding strategy, Google draws information from 2 sources:
- Your past campaign performance
- Your rival’s auction data
The result? You get the maximum number of conversions for the least amount of money.
Also, given that the goal is getting as many conversions as possible, Google may (and will often) spend the entire daily budget. So be prepared to see an empty daily budget but a filled conversion pipeline at the end of the day.
- Target CPA (Cost Per Acquisition)
Want people to interact with your ads? The Target CPA strategy is the best pick.
This Smart Bidding option lets you decide the average cost of each conversion.
This is the amount that you are comfortable paying every time a customer takes an action with respect to your ad (called a conversion here).
Now, in reality, the actual bid amount for each of the conversions might be lower or higher than the CPC. But Google will try to maintain the average.
Based on the likelihood of a conversion happening or not, Google will either increase or decrease your auction amount.
At the end of the day, however, your average CPC would be very close to what you had set.
If you have a set budget in mind regarding how much you want to pay for each conversion, this is the most ideal strategy. You get the average you seek and your campaigns are more likely to be successful as you aren’t stringent on one amount.
- Maximize Conversion Value Bidding
Launched in 2019, the Maximize Conversion Value bidding strategy is a Godsent for eCommerce retailers.
With this bidding strategy, Google optimizes the bid amount based on profit margins or sales revenues.
You tell Google how much sales you are likely to generate if there’s a conversion on X, Y, or Z page. Or how much profit margin you have/seek.
Then Google optimizes the bid to maximize your returns on investment.
This bidding strategy is especially recommended for eCommerce websites with payment gateways on their website.
- Target ROAS (Return On Ad Spend)
Want to earn $X for every $1 you spend on Google Ads? Just tell Google that. And the genie would grant your wish with the Target ROAS bidding strategy.
With this Target ROAS bidding strategy, Google bids to achieve the goal you have set.
That may mean you get lower conversions. This is because Google will reduce the bid amount in situations where conversions are unlikely or the user is unlikely to yield the required returns.
All-in-all it is a great strategy for eCommerce site owners or any other sites which have payment gateways.
Setting an overly ambitious ROI won’t do you good. It would just mean that Google would lower your conversion rate when it feels the designated ROI is not achievable. That means you’ll see a wallet full of Ad money, but no new customers gained.
- Target Impression share
Unlike popular belief, Google Ads can be great for building brand visibility.
The target impression share strategy helps you do that. Here, Google ensures that your ad is displayed on the top of the page or at other display network locations where visitors are more likely to see it. That way, it contributes to building your brand’s visibility online, more than anything else.
- vCPM (Cost Per Thousand Visible Impressions) Bidding
If your goal is to get people to see your ad and just remember your brand, the vCPM strategy should be used.
Under this strategy, Google optimizes your bids to get more impressions and not necessarily more clicks.
This, again, is a very good strategy to leverage if you want to build digital brand awareness/
- CPV (Cost-Per-View) Bidding
If you are running video ads with Google, the Cost-Per-View (CPV) bidding strategy is the most effective. With this strategy, you pay for the views, clicks, and interactions on your video ad.
It is a great way to get qualified views on your YouTube videos which you are running as ads.
- CPI (Cost Per Install) Bidding
If you want to get people to install your business mobile app, you can select the Cost Per Install bidding strategy. The strategy is available only for mobile ads and Google ensures your bids help you promote your mobile app and get more and more installs.
Getting started with Google Ads bidding strategies
Now that you know the best Google Ads bidding strategies
and in what ways they can help you achieve your business goals, it is time to get started.
Not feeling 100% confident in using automated strategies?
Need someone to monitor and measure the your Google Ads campaigns metrics
Want absolutely fail-proof Google Ads campaigns?
Get expert search engine marketing services
- That’s cheaper than hiring experts in-house.
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- There is a possibility to avail of other digital marketing services in their bundled plans.
Don’t wait, kick start your Google Ads campaign with experts and fuel your business growth in 2022.