PPC advertising can be a very effective way to build your brand, but it can also be a tricky tool to master. Common mistakes include bidding too much on certain keywords, which may rank well for a short time, causing businesses to quickly spend their entire marketing budget. At the opposite end of the spectrum, some businesses don’t bid enough and never attain much in the way of conversion.
Google’s Smart Bidding offers a way to simplify the process. Powered by machine learning, Smart Bidding gives marketers an easy way to attain the results they want with a more hands-off approach.
Smart Bidding for Better Paid Advertising Results
Machine learning is the power behind the automated bid strategies in Smart Bidding. The algorithms factor in more parameters than you or your team could manually compute, allowing you to make more accurate predictions. It allows you to set performance targets and customize your settings to focus on your business’s unique goals.
In addition, the reporting tools available in Smart Bidding give you deeper insight into your performance and what’s not working the way you want it to. Alerts and notifications flag any issues with your tracking, and you’re provided with clear information that helps you to correct issues.
Options in Smart Bidding
Each of the five options in Smart Bidding can help you improve your paid advertising strategy. Options available include:
- Target return on ad spend (ROAS) – Using this strategy, you can maximize the revenue of a campaign based on the return you’d like to get for each dollar invested. Bids are automatically set once you input your target ROAS.
- Target impression share – If your goal is to gain more leads, this strategy sets bids aimed to increase visibility. Device optimization is an important part of this strategy, and it can work to increase mobile spending and clicks.
- Target cost per acquisition (CPA) – Target CPA is used to work toward achieving conversions at an average cost that’s less than or equal to the target cost you set, which can grow your sales without taking the risk that you’ll overspend.
- Maximize clicks – This strategy helps you achieve the goal of getting as many clicks as possible within your budget. While this might not increase the number of conversions you get, the increased traffic to your website can give you insights and help you collect data for future campaigns.
- Maximize conversions – This option is more focused on volume rather than the acquisition cost, which can be a good choice if your budget is small.
The power of advanced machine learning behind Google’s Smart Bidding gives advertisers a smarter way to bid. Instead of figuring out the best bid for each auction, advertisers can focus on optimizing other marketing elements while machine learning does the heavy lifting.
Need help navigating the world of PPC advertising? Reach out to the experts at Softline Solutions and find out how we can help you improve the results you get from PPC advertising so that you can meet your online potential.