While setting up the campaign, the best Google adwords bid strategy is one of the very important and crucial areas. Choosing the wrong strategy may finish your budget with no results.
Type of Bid Strategies are:-
A- Target search page location
When your aim is to show your ad on the first result page of Google or wish to have the top position of your ad then this is one of the best strategies for your campaign.
It only works with the Search Network campaigns as a portfolio strategy.
In order to maintain your first-page position, adword system increase or decrease your bid automatically. It applies to your Campaign, Ad Group, and Keywords. But, that is not guaranteed or you can say the Guarantee word does not exist in Adwords J as it depends on many factors eg. Quality Score, ad auction etc.
B-Target CPA (cost per acquisition).
I recommend to use this strategy after 30 days of your campaign run and if you have around 25-30 Leads/Conversions with another bid strategy.
It uses your historical data to set your CPA Sometimes it does not matter what amount you have selected under this strategy as it may cost less or high also, everything depends on your historical data normally. BTW adword system will try to maintain the equal amount that you set under this Target CPA strategy.
This strategy analyses the device, location, time of day, browser etc to bring the Lead as per your targeted CPA amount.
C- Target ROAS (return on ad spend)
Such strategy is suggested for the Shopping Campaigns. Below is the formula that you need to consider before using this strategy.
Conversion value ÷ ad spend x 100% = target ROAS percentage
For an example after spending $1 on the ads you want $5 sales then you need to enter 500% in the target ROAS strategy.
$5 ÷ $1 x 100% = 500%
For better results a historical data is required, use this strategy after 30 days of your campaign run.
D- Target Outranking Share
This strategy also works with Search Network only and the right choice for you if you wish to show your ad on top of your competitor ads.
Adwords machine automatically increase or decrease your bid to outrank your competitor ads and it works with Keywords, Ad Group and Campaign level.
You can set the % that out of 100% how many times your ad should show on top of your competitor. For an example if you want 90% your ad should show out of 100% then enter the value 90%.
Also, you can set the maximum bid amount and may control your spending while you are maintaining the outrank competitor.
E- Maximize Clicks
Earlier it was Automatic Bidding bid strategy and now is Maximize Clicks. As it sounds, this strategy helps you get more and more clicks.
You can apply this strategy to a single campaign also can create a portfolio strategy with the multiple campaigns, ad group, and keywords.
For a better outcome you can consider these practices:-
Bid adjustments: – you can control your bids on the devices, locations, days of the week etc so you can increase or decrease the bids for a good outcome.
Maintain scheduling of the campaigns: – Just analyze and see what days and time you are getting clicks, leads etc and then do the scheduling of your campaign.
First, you need to setup the Conversion code on the Than You page of your landing page to use this strategy. This strategy also requires the Historical Data for better ROI (return on investment).
Make sure: –
- Targeted campaign is not the part of Shared Budget because Maximize Conversion requires its own budget.
- It will consume your full daily budget, suppose you have set the daily budget $100 but you are spending only $60 then with this strategy the full daily budget will be consumed.
G-Enhanced CPC (cost-per-click)
We can call it ECPC (Enhanced Cost-per-click) as well. Again, you should have the Conversion code integrated on your landing page thank you page for using this strategy.
This strategy only works with Search and Display Network, it does not work with App install and shopping etc.
You can apply this strategy while you are running the Manual Bid campaign. Once you activate this ECPC strategy then adword machine helps you get the conversion, but it may increase or decrease your set bids. For an example if you have set the bid $2 and system finds that the user can fill your enquiry form or lead to an enquiry then system may set your bid $2.30, similarly if system sees that looks unlikely to the lead then it may decrease your bid to $1.20.
ECPC is available as a portfolio bid strategy and optional with Manual CPC bid strategy.
If you have less number of keywords and want to manage each keyword bid amount then this is the recommended strategy.
While you are running the Manual CPC campaign, you can activate the ECPC strategy as well to get more conversions.