AdWords flexible bid strategies empower advertisers with a greater understanding of the bidding process, enabling them to set bids to optimize campaigns, keywords, and ad groups for specific objectives. This allows advertisers to spend less time crafting unfocused campaigns and more time reaping a return on investment through dynamic, multi-layered AdWords campaigns.
What Are the Benefits of Flexible Bid Strategies?
One clear advantage of flexible bid strategies is that they empower granular campaign control. For example, advertisers can automate one element of the AdWords campaign while retaining full control over other elements. Advertisers can apply the “maximize clicks within target spend” strategy to automate the bidding for low priority keywords while retaining maximum bidding control over important campaign keywords. Advertisers may also choose to utilize the “target search page” strategy with their important keywords to ensure their ads are more likely to be seen on the first page of Google Search. This level of campaign control allows advertisers to maximize their working efficiency.
Flexible bid strategies can also be utilized to improve ad auction performance. Advertisers can use the tool to craft strategies that adjust bids using real-time details such as device, time-of-day, browser, and location. This helps advertisers achieve a more precise level of targeting within their campaigns, thereby consolidating ad costs significantly.
The Types of Flexible Bid Strategies
Target Search Page Location
The target search page location strategy will automatically adjust the bid to ensure ads are placed at the top of the page on the first page of search results. This strategy can be applied to campaigns, keywords, and ad groups and is ideal for advertisers with ad visibility as their primary advertising objective.
The maximize clicks strategy automatically adjusts bids to ensure the maximum clicks within a target ad spend. It’s a strategy that can be applied to campaigns, ad groups, and keywords and is designed for advertisers who wish to achieve more traffic and site visits.
The enhanced cost-per-click strategy automatically adjusts the advertiser’s bid up or down based on each click’s likelihood of resulting in a conversion. This will help advertisers boost their conversion levels and allow greater control over keyword bids. This strategy can be applied to both campaigns and ad groups.
Target Outranking Share
Target outranking share is a bid strategy that helps advertisers outrank another domain’s ads within the search results. This strategy can be used for campaigns, keywords, and ad groups. It is considered ideal for enhancing site visibility over a specific competitor.
Target Cost-Per-Acquisition (CPA)
The target cost-per-acquisition strategy helps advertisers set their bids to get as many conversions as possible while reaching their cost-per-acquisition objective. It’s a strategy that can be applied to both ad groups and campaigns. This strategy helps balance costs and improves acquisition levels.
Target return on ad spend (ROAS)
The target return on ad spend strategy automatically adjusts bids to maximize conversion value while driving a set average return on ad spend. This strategy can be applied to campaigns, keywords, and ad groups and helps ensure a set return on investment within advertising campaigns.
Flexible bid strategies are an important tool that allows advertisers to hone their campaigns for optimal results and achieve a granular level of control over various campaign elements. By reviewing the various flexible bidding strategies available and testing approaches within their campaigns, companies can now allocate advertising spend more effectively while limiting wasted time and resources across campaigns!
Which type of flexible bid strategy do you employ most often? Are there any strategies we missed? Let us know in the comments!