Google gave us a quick look at the new Google Ads Smart Bidding strategy of “Maximise Conversion Value” at their Marketing Live event. So what is it and how can it benefit your campaign?
This new automated bidding strategy is going to help you to get the most conversion value from your campaign, within the boundaries of your budget. This feature is now live for all Search campaigns. Here are the four key benefits that you will get from it:
Advanced Machine Learning
Within bidding, the algorithms are constantly learning to be able to help you make more accurate predictions about how different bid amounts will influence conversions. This advanced machine learning takes account of a huge range of factors that will impact performance and saves a lot of time.
Auction-time bidding allows you to factor in a range of signals in your bid optimization settings. Signals are any attributes that you can identify about a person, like a device type they are using, where they are located, their search habits, and so on.
Transparent Performance Reporting
The reporting tools within Smart Bidding will give you much deeper insights into your campaign performance and troubleshoot any issues faster.
- Bid Strategy Reports – which gives a snapshot of the key metrics for your campaign.
- Detailed Bid Strategy Statuses – that provides a deeper analysis of what’s going on with your bids.
- Campaign Drafts – these make it easier to test how well Smart Bidding performs against your current campaign.
- Simulators – that can forecast how many conversions your ads might get if you change the CPA targets.
- Alerts & Notifications – that will flat issues with conversion tracking and help you to fix them.
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