The Bid strategy you should use based on your business goals

The success of your Google Ads campaigns will depend on correctly choosing the bid strategy that best aligns with your needs.

For this reason, at MHA we share some options that you could implement to meet each of your goals.

Maximize conversions (sales/leads)

With the maximize conversions strategy and with the help of Google Ads, the aim is to achieve the greatest number of conversions (sales on the website, filling out a form, messages, etc.) with the assigned budget. In other words, we leave it to the Google algorithm (Smart Bidding) to perform certain automations to obtain optimal results.

This bid strategy uses the history of your campaigns and analyzes auction data to determine the right bid for a certain ad, in turn it will allocate the budget intelligently (average daily budget) to optimize bids effectively.

Maximize conversions Value (sales)

With the bid strategy to maximize conversion value, you can increase the total value of your campaigns. It is a way of indicating to the Google Ads algorithm that you want to look for a specific conversion value and that it is achievable with your budget" , which will lead Google to search user behavior for those who fall within the spending parameters and return on investment.

The main goal is to show your ads at an optimal frequency based on where, when and how people search, so it's essential to define the value you want to maximize, for example sales revenue or profit margins.

Cost per click CPC (web traffic)

If the main goal is to increase traffic to your website, then the CPC (cost per click) bidding strategy might be the one for your campaign. The result will depend on the level of the auction, that is, how much the competition is willing to bid and of course the quality of the keywords. For this reason, it is important to analyze this information carefully to designate the appropriate budget and find the terms that are best associated with your website.

Currently there are 2 alternatives that you can use to strategically control the budget:

maximize clicks

It's the easiest way to bid for clicks, it works by designating an average daily budget, and the Google Ads platform will automatically manage bids to get the most clicks based on your budget.

Manual CPC

You can assign a maximum CPC bid amount or distribute different bids for each of the campaign ad groups you manage, also for certain keywords, placements, etc. The best recommendation is to detect which terms or placements are more profitable and use manual bidding to allocate more budget to them.

Cost per acquisition CPA (sales)

If you're looking to achieve more sales, then cost-per-acquisition bidding is ideal. With this strategy you can increase sales by running campaigns on the display network , shopping, YouTube videos or on the Google search network . The CPA bid strategy offers excellent results as long as you maintain a constant budget, so it is essential to keep good control of your budget so that your campaigns are not affected.

 

Target Impression Share (brand positioning)

Target Impression Share is the right strategy if you are looking for brand awareness or boost branding quickly and effectively. It consists of trying to dominate the auctions of specific keywords to guarantee that your web page, product or services appear in a privileged position within the Google search engine .

This type of strategy has a high cost, so you will have to control budgets properly to reach your objectives. To avoid this problem, assign an initial budget below 100%, that is, do not start with your total investment. Then restrict your daily budget by capping the amounts so that your campaigns last as long as you had planned. With these 2 important indications, Google will be able to work your ads in a more optimized way.

Bid by target ROAS (sales)

With this strategy, profitability is sought, that is, that conversions are not more expensive than the value assigned to them. By having a well-defined goal and budget, your ROAS strategies will help you achieve higher conversion value. To understand it in a better way, the system will adjust the bids automatically to optimize the conversion value and thus, reach the target figures that we want to reach.

Using Target ROAS with different types of campaigns:

Search Network and Search Network with Display Select campaigns

Google Ads will try to achieve an average ROAS equal to your goal for all campaigns using this strategy.

Display Network campaigns

Google Ads will achieve an average ROAS equal to your target across all campaigns using this strategy.

Shopping campaigns

Google Ads will try to achieve an average ROAS equal to your goal for all campaigns using this strategy.

App campaigns

Google Ads will try to achieve an average ROAS for your campaign based on installs or in-app events you selected.

ROAS are an excellent option to increase sales, especially for businesses that have only been on the market for a short time .

These are some bidding strategies that you could implement to make your ads more effective and of course, achieve your business objectives. If you want more information on this subject or require advice at MHA you will find the solution .