Smart Bidding is essentially an automated bidding strategy that uses machine learning to optimise conversions on your ad campaigns. Google Ads Smart Bidding has been developed to save advertisers time and improve return on investment.
Watch our video where Uzair will explain Google Ads Smart Bidding and what it means for your campaigns.
Why Use Smart Bidding?
Using Smart Bidding Strategies will ultimately save you time and improve ad performance, so that in itself is a good enough reason to consider smart bidding. Let’s take a closer look at 4 benefits of implementing strategic bidding.
Advanced Machine Learning
With the best will in the world, human capability simply doesn’t match the power of a machine. The data held within it is vast making it able to more accurately predict how different bid amounts might impact conversions or conversion value. These algorithms factor in a wider range of parameters that impact performance, taking the guesswork out of digital marketing strategy.
Wide Range Of Contextual Signals
Using identifiable attributes, you can factor in a wide range of signals into your bid optimisations. You can identify markers about a person or their context at the time of a particular auction. Device and location are available as manual bid adjustments, and you can access additional signals and signal combinations exclusive to Smart Bidding. These include location intent, ad characteristics, weekday and time of day to name a few.
Flexible Performance Controls
Every business has a different set of strategic goals and Smart Bidding allows you to set performance targets and customise settings for your unique needs. You can:
- Optimise Search bids to your selected attribution model, including data-driven attribution.
- Set device-specific performance targets for mobile, desktop, and tablet with Target CPA bidding (coming soon).
Transparent Performance Reporting
Google Ads Smart Bidding gives you access to reporting tools that give you deeper insight into your bidding performance, which in turn allows you to quickly troubleshoot any issues to optimise campaigns. The reporting tools include:
- Bid strategy reports that help you understand how your ads are performing.
- Detailed bid strategy statuses that show you what’s going on inside of your bidding.
- Campaign drafts and experiments for Search and Display campaigns make it easy to compare your Smart Bidding performance to your current bidding.
- Forecasts on how your ads might have performed in terms of key metrics like cost, conversions, conversion value, impressions, and clicks if you had set different cost per action, return on ad spend targets or budgets.
- Alerts and notifications that flag any issues and provide clear steps for fixing them.
Who Should Be Using Smart Bidding?
Whether you’re a small business, or large one, Smart Bidding can work successfully for you to help your reach your business goals. You’ll need to measure your performance over a period of time to really evaluate the benefit, and Google suggests you measure at least 30 conversions over a minimum of a month.
Relevant keywords can be added to low volume campaigns to expand targeting and increase conversions.
When you have data, Smart Bidding optimises across all campaigns, meaning future new ads with no data of its own can see increased performance based on previous results.
If you enjoyed this article, you may also like:
- How to Create a Remarketing Audience
- How To Write Effective Google Ads
- How to Find Long Tail Keywords
- How To Set Up YouTube Ads Campaign
- Google Ads Custom Intent Audiences
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