More ROI for your ads choosing the right (smart) bidding strategy

The importance of choosing the right bidding strategy

Channable´s clients are now able to configure their optimal bidding strategies directly in our PPC tool.

We know it is easy to become overwhelmed with so many different bid strategy options offered by Google Ads, that's why we have created this blog to give you some insight on which bidding strategies work best for your business, how Google Smart Bidding abilities can help you to increase your conversions and the benefits of configuring your most important bidding strategies directly in Channable.

How to determine your bidding strategy?

Google Ads offers multiple ways of bidding that you should choose very carefully depending on the goals you have in mind. Most advertisers focus on clicks, impressions and conversions. Which one should you choose based on your goals?

• Strategy based on clicks. Using cost-per-click (CPC) bidding will help you generate traffic to your website.
• Strategy based on impressions. If your goal is to increase your brand awareness and visibility of your ads, this strategy might be the one you need.
• Strategy based on conversions. This is a more advanced bidding method, and you will pay Google for a determined conversion or action (it could be a purchase, email sign-up, phone call, download, etc.). In order to measure interactions, you need to have conversion tracking.

If you want to focus on conversions, you should consider using Smart Bidding to save time, improve performance and avoid errors setting the biddings. Smart Bidding is a kind of automated bidding that looks for ad auctions that are more likely to hit your KPIs.

Finding success with Smart Bidding

Smart Bidding is a set of automated bid strategies that use machine learning to optimize your conversion goals. On top of the machine learning capabilities, it takes into account info like device, location or time of the day to create tailor bids depending on the search context.

Let's see the most important automated bidding options you have available with Google:

• Target cost per action (CPA): helps you get as many defined actions (sign-ups, app installs, reservations) as possible at or below the target CPA you set. This is handy if you want to control the amount you spend on certain actions"
• Target return on ad spend (ROAS): helps you get more conversion value or revenue at the target return on ad spend (ROAS) you set. This definitely requires a bit of calculating to determine your optimal return, but it can be a powerful method to measure your ads true effectiveness.
• Maximize Conversions: helps you get the most conversions for your campaign while spending your budget. This is probably the easiest strategy to set up. All you need to know is your maximum daily budget, that you are willing to spend on text ads.
• Maximize Conversion Value: helps you to maximize the total conversion value of your campaign within your specified budget.
• Enhanced cost per click (ECPC): helps you to automatically adjust your manual bids to try and maximize conversions. For example, Google can increase or decrease your bid based on the likelihood an ad drives conversions. Bids will ultimately be averaged out to achieve your budget limit.

Some users associate Smart Bidding with a lack of control on the campaigns, meaning that you totally rely on Google’s algorithms to get your targets. However, Google's algorithms are effective when best practices are followed. Smart Bidding will save you tons of account management time and advanced artificial intelligence will help you achieve great results for your PPC campaigns.

How can Channable help you to configure a bidding strategy?

Channable is aware of how important it is to choose the right bidding strategy for a PPC campaign in order to achieve the highest results. That´s why from now on you will be able to establish your bidding strategy directly in Channable. With this new setup in our PPC tool, we are a step closer to helping you achieve your campaign goals with less time and effort.

Until now the only bidding strategy available was the manual CPC option. Meaning that all the bidding had to be configured in Google Ads. But thanks to this new feature we give clients the option to choose an array of bid strategies beyond CPC directly in the tool, based on their conversion and click goals of a campaign:

As you can see above, all the Smart Bidding options described before (except the Target ROAS) are available for use directly in Channable.

You do need to keep in mind that these bidding strategies will be added to Google Ads when setting up new campaigns in Channable, meaning that any updates of that value need to be done in Google Ads directly.

Being able to set up your bidding strategy directly in the tool will give you more independence from Google Ads, simplifying the set up of your dynamic campaigns. Consequently this will help you save time and effort creating new campaigns. Maximize the return and help you reach your goals faster are just some of the positive results of managing your bidding set up process within Channable.

If you are already generating your PPC campaigns using Channable, be aware that from now on you will be able to configure the bidding strategies directly in the tool for all your new campaigns. This new feature, together with the new option of adding location targeting, will allow you to maximize the use of Channable PPC tool. Do you want to learn how to configure the bidding and the location targeting in the tool? In the following video, Robert Smit, our product owner will guide you through the new settings:

Just getting started and would like to start creating dynamic and automated campaigns for Google Ads, feel free to start a trial account with Channable.