Effective Google Ads Bidding Strategies
What is Google Ads Bidding?
Google Ads Bidding is an auction for a particular position on Google search ads that advertisers bid for. As an advertiser, you have to set up the keywords you want to bid for and the maximum amount you’re willing to spend.
This is a way to tell your ad publisher (here: Google), the amount you can pay for an ad copy to appear & get clicked (for display & search ads respectively) in comparison to your competitors.
How does Google Ads Bidding work?
Google lets you set your campaign goals aligned to what matters to your marketing business the most – clicks, impressions, or conversions. Based on these goals, your Google Ads bidding strategy is supposed to be set.
If you go for optimizing for maximum clicks, depending on your CPC bid (the maximum you can spend for a particular keyword) and quality score (metric for relevancy & usefulness of your digital ad), your ad rank is decided. And, in turn, your actual position of the ad copy.
3 Effective Google Ads Bidding Strategies
Brand Awareness Bidding Strategy
Brand awareness defined as the extent to which people can recall or recognize a specific brand. If you want to boost brand awareness, the idea is to make increase visibility of your company, products, or cause.
The best strategy to use for this is to adopt a focus on CPM – Cost per Thousand Impressions. This involves manual bidding, where you set a maximum cost that indicates the most you will spend on an ad that you want to display the most.
Leads Generation Bidding Strategy
The process of identifying prospective customers to buy your products or services is an ongoing concern for most businesses. Without leads, you can’t make sales, and so it’s crucial to have the right strategy to attract more leads.
The best keyword bidding strategy for lead generation goals is to focus on CPC (cost per click). In Google Ads, there are two ways to set the CPC of your digital campaign keywords.
i) Automatic CPC
Setting your keywords on automatic CPC gives full control to Google, freeing up your resources to work on other aspects of the marketing campaign. Google algorithms determine when to change your bids while staying within your set daily limits.
ii) Manual CPC
By using manual CPC, you can retain full control over your bids. This allows you to set individual keyword bids. Or if you prefer, you can set bids at the ad group level.
It is best to use data analytics to guide your decisions with manual bidding. By assessing keyword history and previous results, you can determine keywords that are more likely to generate results.
Conversions Bidding Strategy
Conversions are the ultimate goal of many campaigns. This is when someone interacts with your ad and responds to the desired call-to-action, whether it’s a click, a sign-up or a purchase.
If you’re focusing on conversions, a smart strategy enhanced CPC. This seeks to maximize the number of conversions you get from your clicks.
You can achieve this by enabling enhanced CPC in Google Ads. This will automatically change your manual bids of clicks based on Google’s calculations about the probability of this click leading to a conversion.