What Bidding Strategy Is Right For Your Google Ads Campaign
Getting the winning combination happening of engaging Ad creative, a converting lead page, the right keyword bidding strategy & not breaking the budget can feel overwhelming.
This article will hopefully help you to select the right combination, or at least clear any doubts so that you can get your ads to start performing.
LET’S GET CLEAR ON YOUR GOALS WITH ADWORDS MANAGEMENT
With an assortment of Google Ads campaigns, you want to make the right choice. Perhaps you want to get in front of your competitor’s customers, or help your Perth based customers find your newly started business venture when they are typing in “dog groomers near me”.
Whether it's branding goals that build awareness, drive conversions to increase your prospective customer database or you are about driving sales for a product or service, being strategic with your AdWords spend is important.
THE RIGHT GOAL NEEDS THE RIGHT TYPE OF BIDDING STRATEGY.
Before we go and nerd out with excitement on all things AdWords Management Perth, let’s take a quick run-through on the chunky level strategy types:
- Smart Bidding
- Cost per Click Bidding
- Visibility Bidding
- Video Views or Interaction Bidding
- Portfolio Bid Strategies
Smart Bidding is great if you want customers to take action on your site. It deploys what’s known as “machine learning” so that your conversions are optimised based on what devices your target customer is using, when they are using it, and where.
Cost Per Click (CPC) is for you if you are wanting to get traffic to your website. Here, we get into keyword strategy and get a little deeper as success factors in more than what you are prepared to pay. Google, like you, wants happy customers.
Visibility may be your bidding strategy of choice if you need to build brand awareness and get customer eyes on your product or service prize.
Video Views or interaction, as it sounds, is for video-based performance. In this space, you may want to focus on getting customers to be aware of your business or a particular product or service you sell. The interaction may be getting them to click on a call to action that is featured as part of your video ad strategy.
Portfolio Bid Strategies are a bit like an ads management degustation that groups together multiple campaigns, ad groups and keywords to satisfy your online marketing goals.
It combines smart bidding, cost per click bidding and visibility bidding strategies and is set up in a way that automates your bids to reach your goals.
LET’S DIG A LITTLE DEEPER ON ADWORDS BIDDING STRATEGIES
SMART BIDDING STRATEGIES
Target CPA (Cost Per Action)
The name of the game here is to help you get as many customers converting at or below the defined cost per target. For example, if you are prepared to invest $4 in selling your dog grooming services valued at $60, Google will seek to get as many clients converting at $4 (or below) as possible. This strategy can be run on its own or used in a portfolio bidding strategy.
Target ROAS (Return On Ad Spend)
With return on ad spend set as the target, this is all about getting your bids working to achieve your revenue goals. For example, if you are wanting to generate $60 in revenue from your dog grooming business for every $4 spent on your ad campaign, you would set a ROAS target of 1500%.
ROAS bidding strategies are best suited for businesses who have already run a conversion campaign, as Google likes to use a little historical data, so be sure to discuss this with one of our trusty Adwords experts about when it’s appropriate to deploy this little number.
Once again, this little bidding strategy takes a bit of behavioural insight and works to get you the optimal number of conversions for your AdWords campaign. If we stick with our dog grooming scenario, historical data may show that people looking for dog groomers are on android devices searching and booking services between 7am and 8:30 am, Monday to Friday thanks to their public transport taking habits. With maximising conversions as the goal, Google will seek to use this information and spend your daily budget at those times when the opportunity arises.
Enhanced Cost Per Click (CPC)
A bit like choosing the right “click division” to fight for your customer, thanks to a little historical analytical love, Google looks at your campaign performance from the past and works to show your ads where you have performed the best.
This bidding strategy can be used with search and display ad campaigns, and works to optimise the manual bids that you set, so if you aren’t ready to let Google fully drive with automated bid selection, this allows you compromised control, something our Adwords specialists in Perth love to assist with.
COST PER CLICK (CPC) BIDDING STRATEGIES
This can be used as a stand-alone bidding strategy or as part of a Portfolio bidding strategy, and the focus is to optimise your AdWords budget with your ad getting clicked. It is about driving traffic to your website where, hopefully, they will take an action.
Manual CPC Bidding
Perfect if you want to set how much you are prepared to pay on a cost per click. This bidding strategy allows you to allocate your ad spend based on the success of keywords, and with a little know-how from the team at Dilate, it’s a great way to get optimisation happening.
VISIBILITY BIDDING STRATEGIES
Target Impression Share
This bidding strategy can be used as a stand-alone, or as part of a portfolio bidding strategy, and the goal is to have your ad display either at the absolute top of the search results page, on the top, or anywhere on the page. It takes into account where you want to appear, and the bid based on your keyword strategies, so be sure to discuss the ins and outs of setting bid amounts too high or too low with your dedicated AdWords specialist.
Cost per Thousand Impressions (CPM Bidding)
The goal here is visibility, and you are seeking to be seen on Google’s display network. This is different from the search network (typing into the search term and your ad displays). The upside to CPM bidding is you only pay when your ad stays visible for a set period of time-it varies between video and static ads.
Cost Per Viewable Thousand Impressions (Manual)
Similar to the above, this bidding strategy allows you to decide your maximum ad spend on the Google display network.
VIDEO VIEW & INTERACTION STRATEGIES
Cost Per View Bidding
When you get into video view and video interaction, you may want to consider cost per view. Video is a great way to capture the attention of your ideal customer (especially when you consider that globally 1 billion hours of YouTube content is watched per day).
Cost per view means that you pay for the view of your ad, or interactions. Your ads appear before other YouTube videos for at least five seconds, so if building out video creative to reach your customers, be sure to ask our in house creative team about how long your ad should be.
PORTFOLIO BIDDING STRATEGIES
While a portfolio bidding strategy combines some of the other bidding strategies available, it’s good to be aware of these two gems that may help you reach your customer goals.
Target Search Page Location
For use in the search network (think Google search engine and Google search partners like Google maps or google shopping), A targeted search on the top page, or the first page of search results. Bids can be set to be automated or manually adjusted based on keyword strategy.
Target Outranking Share
Like a little friendly competition? This bidding strategy seeks to place you ahead of a competing domain. It’s not as simple as who has the most money wins the top spot. Google also uses a quality score to determine who outranks (sounds a bit like Survivor, right?) in the search network.
Now that you’ve taken some time to digest what Google has on offer in adland to help your marketing goals, you might be thinking this?
ARE DIFFERENT BIDDING STRATEGIES SUITABLE TO DIFFERENT INDUSTRIES?
Glad you asked! The right bidding strategy can be dependent on your industry. Some ad campaigns work better on the display network; some campaigns work better on the search network.
WE CAN HELP TAKE THE GUESSWORK OUT OF CHOOSING THE RIGHT ADWORDS STRATEGY.
The team at Dilate have worked with 100’s of businesses across all kinds of industries, for businesses located in Perth and across Australia to deliver AdWords management services.
If you would like to find out how we can help you set up the right bidding strategy in your Google ads campaign, simply get in touch.
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