Automated advertising bidding is one the most powerful tools digital marketers have today. Thanks to machine learning, it can be harnessed to its full potential.
Automated ad bidding will not only make your campaigns more visible online but also save you tons of money.
Let’s look at the many benefits of automated advertising bidding for your company, including brand awareness, traffic growth, conversion rate optimization, and traffic increase. There are also bidding strategies that can be used to help you reach your advertising goals quicker.
What is automated ad bidding?
There are many great strategies for online advertising. Automated ad bidding, however, is an incredible tool for marketers. In short, automated advertising bidding allows the computer to bid on digital space in real time so you can get the most exposure for the budget. Automated systems make use of historical data from past campaigns to predict how different bidding strategies might affect future results.
What is the big idea? Real-time optimizations can help you achieve your desired outcomes, whether that be more clicks, impressions or conversions.
An automated ad bid system is a great way to make sure you have a profitable paid search campaign. The computer will adjust bids and spend as needed to meet your goals.
Smart Bidding and automated ad bidding are often confused, but they are two distinct things.
- Automated Ad Bidding is the umbrella term that covers all bid strategies that involve automation.
- Smart biddingis one subset of strategies that uses machine learning (auction time bidding) in order to optimize bids for higher performance.
How automated ad bidding benefits your business
Automated ad bidding not only helps you spend your money where it is most important, but also assists search marketers in achieving key objectives.
- Increase brand awareness. Smart advertisers understand that branding is an effective marketing tool well worth your investment. Automated advertising bidding puts your ads in front more people, increasing brand exposure and reach. You can promote your business without spending too much.
- Increase traffic. More eyes on your ads means more people will click through to your site. Targeting the right people at the right times will increase the number of qualified visitors to your website. To keep costs down, you can raise the bid level for keywords with lower competition.
- Increase conversion rates: In the end, you want visitors to complete desired actions on your site, such as filling out a contact request or purchasing. You can adjust your campaign to get the best traffic by increasing bids for ads that convert and decreasing bids for those that don’t. You’ll see a greater return on your investment (ROI) if you pay more for ads that convert.
Smart Bidding Strategies to Success
It can be difficult to choose the right automated bidding strategy for your business. There are many options. You can adjust most of them until you find the best one for you.
Google’s Smart Bidding Strategies, which include Maximize Clicks and Target Impression Share, Target CPA and Target ROAS, are all available in Google Ads. Here’s how they work.
Maximize clicks
Maximize Clicks is an automated ad-bid strategy that gets as many clicks as you can depending on your budget.
It analyzes past performance data to determine the best amount to get maximum clicks. And it’s dynamic so you can add rules such as “don’t let average cost per click exceed $1” if needed.
Share your impressions
Target impression share adjusts your bids automatically to ensure your ad is visible at the top. This will give you the best share of relevant traffic. This strategy works well for campaigns that use brand terms or high-value keywords. You want your ads to be seen as often as possible. This strategy can be used to build brand awareness.
Target CPA
Target cost-per action (CPA) bids on traffic most likely to lead to a conversion.
You might, for example, bid higher for search terms that have a track record of bringing customers in and lower for those with less potential. This bidding strategy works well for businesses who want to optimize their campaigns for conversions.
Target ROAS
The target return on ad spending (ROAS), is another way to optimize for conversions. Instead of being based upon cost-per-action it’s based on your return .
If you are happy with a return of 5:1 (meaning you get five dollars back for every dollar spent), then your target ROAS would be 500%. This bidding strategy automatically adjusts your bids to reach that target.
How to choose the right bidding strategy for you
Automated ad bidding, regardless of your business size can increase brand awareness and provide a steady stream traffic without breaking the bank.
Consider your campaign goals: Do you want to get more clicks? Increased impression share Higher conversions
No matter which bidding strategy you choose to use, automated ad bids are meant to complement other marketing methods and not replace them. Try out different bidding strategies until you find one that achieves your goals. Be tactical in all aspects of your campaign.
Your campaign’s landing pages are an important component. They can make or break automated ad biding. Smart Builder allows you to create landing pages that convert and maximize your results.
Did you miss our previous article…
https://onlinemarketingagencies.net/how-marketing-silos-can-hamper-your-business-and-how-cross-channel-advertising-can-help-you-break-them/
Leave a Reply