4 Things That May Surprise You About Automated PPC Bidding
When bids are automated, it does not mean that PPC is automated. Here are four important things to know about automated bid management.
How to Pick the RIGHT Bidding Strategy
If you understand the objectives of your PPC campaign and you want to maximize the performance, choosing an effective bidding strategy will be incredibly important.
But with all of the bidding strategies out there, like target CPA, target impression share and target ROAS, which one should you use for your business. Well in this video I am going to break down when you should and shouldn’t use a particular bidding strategy and how to select the right one for your PPC campaigns.
I have done a ton of videos on bidding strategies which I have linked to below, but how can you select the one that’s right for your business. First of all as mentioned in the introduction, you need to first understand and set your business goals on a per campaign basis.
So for example, if you’re a plumber you might have a boiler or water heater campaign running as well as a brand campaign, of which both will have different objectives.
The water heater campaign would be focused on lead gen through a contact form or phone calls and the brand campaign could purely be about protecting your brand on the search results to fight against pesky competitor bidding, which again is a very different objective to lead gen.
So now you know that you need to have a strong understanding of your business objectives on a per campaign basis, the next step is to chose a strategy that fits your objectives.
Let’s start with choosing an ROI based strategy, which means your business and campaign objective is to generate positive ROI through sales or lead generation. Let’s look at businesses focused on lead generation. So if you’re not making sales online and you want people to get in touch by way of phone call, appointment booking or inquiry, then what strategies can you pick?
If you are generally generating a conversion volume of more than 2 conversion per day within a 3 day period AND you are not budget restricted, you’ll have enough conversion data for a smart bidding strategy, which rules out manual CPC.
your choice is between target CPA and Maximize conversions.
Your choice between the 2 depends on whether you want to keep your cost per conversion strictly within a particular limit, which would mean choosing a target CPA strategy, or whether you don’t mind paying a bit more than for your conversions and you just want as many as you can get for your budget, which means leveraging a maximize conversions strategy. The choice is yours, depending on your business goals.
If your campaign is budget restricted and generally drives low conversion volume, I would advise that a manual CPC strategy could work better for you, because Google won’t have enough data to optimize a smart bidding strategy.
Moving on to selecting a bidding strategy if you’re focused on generating sales as opposed to leads.
This leaves you with
Maximize Conversion Value
Again, if you’re generating strong conversions volume and you’re not budget restricted, then you should chose a smart bidding strategy. Which leaves you with a choice between
Target ROAS and Maximize conversion value
Your choice between these 2 strategies will depend on whether you would like to fix your campaign ROI at a particular minimum level for example a 300% return on your ad spend, or whether you would like to give free reign to Google to generate as much revenue as possible within your budget.
Again, manual CPC can be a good fallback if you’re running low volume campaigns
Now we’ve covered ROI based strategies, let’s look at the vanity strategies
Target Impression Share
Now you guys should easily be able to chose a strategy for your PPC campaigns and be confident it’s the right one for you!
BIDDING STRATEGIES EXPLAINED
Target Impression Share
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Amazon Sponsored Products (Amazon PPC) – Bidding Controls: Down Only, Up-Down, and Fixed
How to institute bidding controls for your keywords
Check out our Amazon PPC Playlist with information on Amazon PPC strategies for beginners: https://www.youtube.com/playlist?list=PLyrrqKCT7jFKagzglJm-b55MWjQ82zdPt
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Amazon PPC Campaign Bid Strategy Explained
Schedule a free 1-1 strategy session with me to see how I can help you:
00:00 – Intro
01:24 – #1 Campaign bidding strategies
02:05 – Dynamic up and down
03:16 – Dynamic down only
03:49 – Fixed bids
04:46 – #2 Adjust bids by placement
06:13 – #3 Using both settings together
08:28 – #4 What bid strategy settings to use on a new Amazon PPC campaign?
10:11 – Book in a call
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The State of Marketing | Latest PPC Bidding Strategies & the Future of Automated Bidding
James Smith (PPC Specialist) & Tim Butler (CEO) discuss the various bidding strategies available to marketers and account managers today. Plus the role of automation moving into 2020 and beyond.
Discover the insights and learn more about the state of marketing in 2020.
If you would like to get in contact with the team, head over to our website and tell us about your business needs. We can help a range of clients optimise and create outstanding paid campaigns – no matter your scale or budget.
#BiddingStrategies #PPC #DigitalMarketing