After the recent ‘Google Marketing Live‘ show in the U.S., Google announced some important new controls to automated bidding for Ads. It claims that more than 70% of all advertisers use Google Ads automated bidding today, so it’s more important than ever for it to provide increased flexibility for businesses to reach their goals.
That’s why three new bidding innovations were unveiled:
Campaign-level Conversion Setting
To provide more flexibility and customisation within Ads accounts, campaign-level conversions have been introduced. Previously advertisers could only set conversion goals at the account level. However, that meant that all campaigns within that account would be tied to the same set of goals. Advertisers will now be able to map relevant conversion goals at the campaign level. This will be especially useful for accounts that have clearly differentiated campaign goals (e.g. campaigns representing different lines of business or distinct marketing budgets).
While Smart Bidding incorporates seasonality, Google has responded to the requests for more controls to account for ad-hoc events like one-off promotions, which is why seasonality adjustments have been introduced. For example, if a business knows that conversion rates will spike due to an upcoming promotion, it’s now possible to schedule an appropriate adjustment for that period.
Maximize Conversion Value
A new bidding strategy known as ‘maximize conversion value’ has been introduced. Up until now, bidding strategies around conversion value were largely focused on efficiency (e.g. Target ROAS). Google understands many advertisers are more focused on volume and growth. Maximize conversion value allows an advertiser to optimise for the most conversion value within a specified budget.
These are welcome additions from Google which enable more control over the increasingly utilised automated bidding in Google Ads. It’s hoped that business owners’ feedback is continued to be acted upon in relation to this, as the more control that’s provided over the automation, the better.
If you want to know more about how Google Ads automated bidding could help to reach your business goals, please contact us now.