Google announced three new smart bidding strategies at Google Marketing Live 2019
Google announced three new smart bidding strategies at its annual Google Marketing Live event today.
They are all designed behind one idea: Maximize Conversion Value.
Lets say you want to maximize the total impact of a campaign, but not every conversion has the same impact on your business.
Google is now rolling out a smart bidding strategy called maximize conversion value to address this issue.
This strategy will allow marketers to maximize the conversions that matter most to their business.
Google has recognized that while smart bidding strategies can help take the work load of marketers, at the end of the day, it is businesses themselves that have the most insight about what works and what doesn't in their industry.
And many want to use smart bidding strategies to aid these insights, rather then have smart bidding strategies tell them what to do.
So here are three future smart bidding strategies all marketers will soon have access to, designed to make bidding on Google Ads more flexible.
1. Choose conversion actions at the campaign level
Campaigns in accounts can have different goals, so now Google will allow you to choose conversion actions at the campaign level.
For example a retailer could have some campaigns designed for driving sales to their website and others that are for both optimizing online sales and in store visits.
Smart bidding can now optimize for store visit conversions on search campaigns. For any business with a real world location, this will prove to be very useful.
2. Create conversion action sets
A customer's relationship to your business, as well as where they are currently located and what device they are using all have a huge impact on conversions.
Currently most of these insights are located outside of Google Ads. But soon Google will allow you to set up rules directly within Google ads, and conversion reporting will automatically reflect these rules.
3. Seasonality Adjustments
Sometimes recent historic data is not a good indicator of future performance. And you as a business owner or marketer know this better than anyone else.
Google will now allow seasonality adjustments, so that bids are automatically adjusted to account for changes that reflect the business cycle.
Google hopes that these three smart bidding updates will make them more flexible for marketers and ensure they bring about the best ROI on campaigns.