The Bid strategy you should use based on your business goals

The success of your Google Ads campaigns will depend on whether you correctly choose the bidding strategy that best aligns with your needs.

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

Maximize conversions (sales/leads)

With a maximize conversions strategy and with the help of Google Ads, we seek to achieve the highest number of conversions (sales on the website, filling out a form, messages, etc.) with the allocated budget. In other words, we leave it up to Google's algorithm (Smart Bidding) to carry out certain automations to obtain optimal results.

This bidding strategy uses your campaign history and analyzes auction data to determine the appropriate bid for a given ad, and will intelligently allocate your budget (average daily budget) to effectively optimize your bids.

Maximize conversions Value (sales)

With the conversion value bidding strategy, you can increase the total value of your campaigns. It is a way of telling the Google Ads algorithm that you want to aim for a specific conversion value that is achievable with your budget" , which will lead Google to search through user behaviors for those that fall within the parameters of spending 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 your main goal is to increase traffic to your website, then a CPC (cost per click) bidding strategy might be the right one for your campaign. The result will depend on the level of the auction, i.e. 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 in order to allocate the appropriate budget and find the terms that best associate with your website.

There are currently 2 alternatives that you can use to strategically control the budget:

Maximize clicks

It is the simplest way to bid on clicks. It works by designating an average daily budget and the Google Ads platform will automatically manage the bids to get the highest number of clicks based on the budget.

CPC manual

You can assign a maximum CPC bid amount or distribute different bids for each of the campaign ad groups you manage, as well as 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 a higher number of sales, then cost-per-acquisition bidding is the ideal strategy. With this strategy, you can increase sales by running campaigns on the display network , shopping, YouTube videos , or the Google search network . The CPA bidding strategy offers excellent results as long as you maintain a constant budget, so it's essential to keep a good control on your budget so that your campaigns aren't affected.

 

Target Impression Share (brand positioning)

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

This type of strategy is expensive, so you will need to control your budgets appropriately to achieve your goals. To avoid this problem, assign an initial budget below 100%, that is, do not start with your full 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 on your ads in a more optimized way.

Bid on ROAS (sales) target

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

Using Target ROAS with different types of campaigns:

Search Network and Search Network Campaigns with Display Selection

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

App campaigns

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

ROAS is an excellent option to increase sales, especially for businesses that have been in 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 goals. If you want more information on this topic or require advice, you will find the solution at MHA .