Google Ads announces a new update to its Smart Bidding. It comes with an enhancement in the reporting through which marketers can get better insights into the predictive features & the performance drivers. The announcement followed closely after a blog was posted a day before encouraging advertisers to take the advantage of Smart Bidding.
Google Smart Bidding
Google smart bidding with the help of machine learning optimizes for conversion values or conversions. It can create a series of automated bid strategies and predict the likelihood of conversion with the help of user device, time & ad creatives. By making use of those numbers, it can create a bidding strategy that can make phased improvements.
There are a variety of Google smart bidding strategies, you could be using based on the type of your goals. These automated bid strategies will allow Google to manage bidding in real-time based on the account targets. The different types of bidding strategies include:
Target Outranking Share: This will help you select an opposing domain and outrank it in the ad position. Target Outranking Share is not a guarantee to improve overall ad rank.
eCPC: This one is a form of smart bidding strategy that, in order to enhance conversion will adjust your manual bids.
Target ROAS: This form of smart bidding strategy can be used flexibly in different applications including keywords, Ad Groups, portfolios & Campaigns.
Maximize Clicks: This smart bidding strategy will boost the number of clicks for your ads. It aims at enhancing the number of visits to the website.
Target CPA: You can use this smart bidding strategy within Ad Groups, portfolios & campaigns if your aim is to enhance conversion.
Target Search Page Location: It is used to enhance the visibility of a particular page on the Google Search engine pages.
Maximize Conversions: It gets you increased conversions per campaign by optimizing tailored bids.
Predictive Data Update for Target ROAS, Budgets, and Target CPA.
Enhanced Bid Strategy Reports
In addition to the increased 90 days predictive period, the enhanced bid strategy update would also allow advertisers to get recommendations on how to improve their smart bidding results for budgets & keywords. Google says it is going to see expansion into these recommendations in the future.
Also, the Bid Strategy Reports will now be shared at four other places within the Google Ads account — here’s where:
Shared library: Portfolio bid strategies attributes can now be edited directly in the shared library. You can edit Impression Share, names, ROAS, and targets for CPA in the shared library itself.
Campaign tab: Users can now go to this tab to see the average target ROAS & CPA for shopping & search. It will help advertisers easily understand, optimize its buy with respect to CPA, and device bids.
Overview page: With the top signal for Target CPA bid strategies and maximize conversion — users would be able to identify the factors smart bidding is taking into account for improved conversion.
Campaign tab: Here users can get a better insight into the conversion delay and how it impacts the final results.
Here’s how Google Smart Bidding Helps:
- Google Smart Bidding uses machine learning to optimize the bidding process. This will make sure that you have spent less money and time managing your Google Ads for better conversion.
- It will customs updates and reports helping you understand what’s happening with your bidding strategies.
- Google Smart Bidding also helps analyze different contexts & signals so as to customize bids to every user’s account.
- It also helps direct the bidding performance as per your chosen attribution model through an agile control on the performance.