Optimizing bids can annoy many PPCers. A number of formulas, macros, and bid sheets can be used to ensure achieving auctions and garnering conversions. This is why it could be an awesome step if AdWords campaigns could be set up to automatically optimize for conversions or a conversion value without having to do any manual adjustments. This is why Google has attempted to come up with the latest smart bidding strategy – Maximize Conversions.
Google’s Maximize Conversions is the newest smart bidding option that aims to increase conversion volume by automatically setting bids to help get the most conversions for your campaign. It uses advanced machine learning to automatically optimize bids. It also offers auction-time bidding capabilities that customize bids for every auction. All in all, this Maximize Conversions strategy can help to get the most out of a campaign’s budget with minimal work involved.
Google is making this bidding strategy globally available to advertisers using TrueView for Action campaigns, which are designed to drive leads and conversions by adding prominent CTAs and headline text overlays to video ads on YouTube. This is because Maximize Conversions is an easy and effective way to generate more of the website actions that are important to almost any business. Either you are new to TrueView for action campaigns, or are looking to run burst campaigns, Maximize Conversions is an effective strategy. Also, it is an alternative option for advertisers who don’t meet the recommended threshold of 50 conversions per week for target cost-per-acquisition bidding. In fact, target cost-per-acquisition is a great option for advertisers who have a specific ROI goal for video campaigns.
You can get the most number of sales from your existing budget by factoring signals like browser, operating system, time of day, and remarketing lists. The bidding strategy also takes historical performance into account. Using historical information about your campaign and evaluating the contextual signals present at the auction time, Maximize Conversions bidding automatically finds an optimal bid for your ad each time it is eligible to appear. Google Ads sets these bids to help get the most conversions for your campaign.
However, before switching to Maximize Conversions, there are certain things that you need to do. First, you need to check that the campaign is not part of a shared budget, because a campaign that uses Maximize Conversions needs its own individual budget. Next, you need to check your daily budget amount, as Maximize Conversions needs a complete daily budget to be spent. Last but not the least, you need to check your ROI goals. If you have an ROI goal for your campaign, you may want to switch to a target CPS or target ROAS bid strategy. These strategies automatically set bids for every auction, but the goal will be to achieve the average CPA or ROAS target set, rather than spending your complete budget to maximize conversions.
Companies offering PPC services in India can help you with this and many other such strategies to help your campaigns achieve the goal you wish to accomplish.