Recently, Google unveiled new bidding strategies for Google Ads at the Google Marketing Live Event. Today more than 70% of all Google Ads campaigners utilize Google Ads automated bidding, including Smart Bidding for both small and large businesses.
Earlier this week Google introduced three new bidding renovations:
- Campaign-level conversion setting
- Seasonality adjustments
- Maximize conversion value
Campaign-Level Conversion Setting
Earlier, campaigners were bound to set all the conversion goals at the account level. That means all campaigners within that account were with the same set of goals and also bound to follow the same goals. Now, different campaigns can have different conversion goals meaning campaigners will now be able to map the relevant conversions at the campaign level. Each campaign will now represent different business and also a different marketing budget.
Seasonality Adjustments
Google introduces seasonality adjustments keeping holiday promotions in mind where advertisers are sure that their conversions will spike over those periods. That’s why your bids gets adjust accordingly during the peak time. In addition to this, campaigners can schedule high bids for a time period when conversions will be high.
Maximize Conversion Value
Maximize conversion value is introduce because till now conversion strategies only focuses on efficiency. And therefore are many advertisers/marketers that lay more emphasis on growth and volume rather than efficiency. So, this strategy will allow campaigners to optimize for maximum conversion value within a specified budget.
Value Rules
Lastly, In the upcoming month. Google ads will be coming with the new strategy: Value rules, Which will let campaigners differentiate conversion values based on characteristics like location, device, and audience. With this, you will be able to customize your conversion values so they align more closely with business goals.
So, let’s try out these strategies and see how these will help the campaigners to boost their conversions.