So here’s the thing if your business is new to Google ads you might find all this bidding strategy stuff confusing. Most businesses just leave the bidding strategy on the default setting and hope for the best. At best this can work for a short period however you might see unpredictable in your Google ads costs and have no idea where to start to remedy the situation.
I’ve compiled a short list of what bidding strategies each business should use at which stage. Which I’ve broken down into 3 different categories.
My business is new and I haven’t had one conversion
If your new to this whole google ads thing and you want to get started straight away. Often times you just have an idea for a website and you want to see if its a valid idea. The best bidding strategy to start out if hands down is Manual CPC. Manual CPC or Manual cost per click allows you to dictate what is the maximum amount you which to pay per click.
If you have no conversion tracking setup and you only have a small budget to start out with this bidding strategy a great way to stretch your budget. While finding out which clicks convert and which clicks don’t. There is no need to chose the enhanced cpc under manual cpc function if you don’t have conversion tracking installed as Google ads has no way of knowing if a conversion was made or not.
If you don’t know how much you should be paying per click then check out Google Keyword Planner.
I’ve had a few conversions but I’m having unpredictable results.
When you start a getting a few conversions under your belt then we can start getting into a conversation about automated bidding strategies. Automated bidding strategies take the guess work out of bidding manually because they use artificial intelligence to decide when a conversion is likely here you can use strategies such as.
Target CPA (Target Cost Per Acquisition)
This automated bidding strategy allows you to decide how much your willing to spend to get a single conversion on your website. Once you set a target CPA the artificial intelligence will use your previous conversion data to try and get a conversion while still staying on target. However be warned if you set a unrealistic target you will not get conversions.
The maximize clicks is a great strategy for people who are trying to get as much traffic as possible to a certain page who are not too concerned about conversions. For example if you have a blog article and you want to get as much traffic to a blog article as possible without over paying for clicks. This is the strategy for you.
I’ve got alot of conversions but my costs are too high
So first of all congratulations! it seems like you are getting a lot right. You’ve got your website nicely humming along. All you need is a few tweaks to really get profitable and grow your empire. I recommend that you use these 2 bidding strategies if you have 30 conversions or more in the past 30 days.
Target ROAS (Target return on ads spend)
If you use target ROAS you can very easily optimize your conversions this uses your previous conversion data (of which there should be alot). Target ROAS will then try to reduce your bids over time by looking at past conversions and then bidding high when it deems a conversion to be likely.
Only use this Google ads bidding strategy when you are willing to pay as much as possible to outbid your competitors. The maximize conversions setting always trying to out pay everyone else when it deems that a conversion is highly likely. Great when you already have lots of conversion data and you’re willing to pay to get a client.
I hope this was helpful and you are now willing to go and give Google ads a shot. We also do strategy so if your looking to take your digital marketing to the next level contact us.