Earlier this month we had the pleasure of an in house training session from one of our amazing team of Googlers. While Google Ads Smart Bidding is coming into its third year, it was great to touch base with the latest best practises and regroup on our agencies key learnings when it comes to making the most out of machine learning and automation.Target CPA, Target ROAS, Max Conversions and Enhanced CPC are all subsets of automated bid strategies, with Target CPA and Max Conversions being most commonly used across our portfolio of clients. Before we get stuck into those two, a quick recap on what this smart bidding stuff is all about.
From Google: smart bidding is subset of automated bid strategies that optimise for conversions or conversion value. Smart Bidding uses machine learning to optimise bids in order to maximise conversions and conversion value across your campaigns.While us search executives are pretty darn great when it comes to optimising our clients Google Ads campaigns, we are only human. The major card that smart bidding holds is the ability to analyse over 70 million signals in 100 milliseconds. From device, location, time of day, browser, site behaviour and more, the attributes about a person and their individual context at the time of a particular auction, sadly but amazingly trumps human capability. This essentially means that smart bidding can take your Google Ads campaigns to the next level.
For businesses that know how much a lead needs to cost in order for that lead to be profitable to the business, Target Cost Per Acquisition bidding is a good place to start. With tCPA we set a target cost per conversions and Google Ads sets bids to help us get as many conversions as possible at or below the target that we set. Don’t go crazy rolling this one out just yet!What you need to know about tCPA:
As the name suggests, this one is all about maximising the volume of conversions generated by campaigns. This strategy DOES NOT take into account how much you pay for a conversion, the aim of the game is volume. What you need to know about max conversions:
What I’d encourage you to bear in mind is that no smart bidding strategy likes constant changes. From keywords to ads to daily budgets and everything in between, each time you make a change to your campaign, Google’s machine learning needs to do just that - learn, with learning periods lasting from 7 - 14 days before data stabilises. Our tip? Make your campaign changes in 2 - 3 week cycles so that machine learning can do it’s thing as best it can.Google Ads is a world of its own and the team at Bang Digital can help you navigate it. If you’re ready to start the conversation, get in touch.