How to Optimize for Conversions with Google Smart Bidding
The purpose of an ad is simple—make a customer aware of your brand and give them the impetus to engage with it. This engagement could take the form of a mobile app download or a website visit leading to a product sale. These actions taken after interacting with your ads are called conversions and they are the lifeblood of Google Smart Bidding’s ad strategies.
Google Smart Bidding is a category of automated bidding strategies that optimize for conversions. The four main conversion-based strategies within Smart Bidding include Maximize Conversions, Target CPA (cost-per-action), Target ROAS (return on ad spend), and Enhanced CPC (cost-per-click). If you’re using Google Ads, its likely you have decided upon some of the goals you want to hit with your ads, such as more website traffic and greater online sales. Optimizing your ads for conversions with Smart Bidding is one of the best ways to reach your goals, while staying within your set budget.
There are four key benefits that come with Smart Bidding:
- Machine Learning: Algorithms use data to learn to more accurately predict how varying bid amounts might impact conversions.
- Unique Context: Bids can be tailored to a user’s unique context, including location, device, time of day, re-marketing lists, browser, language, and more.
- Flexible Controls: Performance targets can be easily set to steer bidding performance and optimize search bids to your chosen attribution model.
- Transparent Reporting: Status updates and reporting tools allow you to test the strength of your bidding performance and work out any kinks quickly and easily.
How to Set Up Smart Bidding
To start using Google Smart Bidding, you have to set up conversion tracking. To do so, you must pick which conversion you want to track and then create a conversion action in your Google Ads account. These are the different types of conversions you want to focus on, like website purchases or app installs. You can track multiple conversion types by creating multiple conversion actions.
Tracking each conversion action works differently. For some actions, you need to add a tracking tag in the form of code to your website or app. Others are automatically tracked, like phone calls which just require a Google forwarding number, or app downloads which don’t require anything extra.
Bid Smarter Today
Google Smart Bidding gives you the power to maximize your conversions while maintaining the budget with which you feel comfortable. If you’re planning to use Google Ads, this type of bidding is worth considering.
Figuring out your bidding strategy is only the tip of the iceberg. Do you need help planning your next ad campaign or designing your website to be ready for maximum conversions? Kraus Marketing’s team of copywriters, designers, and digital marketing experts are here to help. Contact us today to learn more.