What is Adwords Flexible bid strategies?

Bidding strategies are a very important part of managing any PPC campaign.  Given that we want to maximize returns by bidding for good positions for the most effective keywords and reducing bids for the less effective ones.

These are our experiences of the various bidding options:

  • Auto: Adwords automatically set bids, but this is sub optimal when budgets are too much for the traffic (hence Adwords will automatically bid most keywords up) and also Adwords does not bid for the best performing keywords.
  • Conversion optimization:  This seems to us to require 100s or 1000s of conversions in order to perform well (as opposed to the 30 Google states)
  • Manual:  Gives the most control and you can manage bids at keyword level and bid according to cost per conversion, however is very time consuming
  • PPC management tools:  Acquisio has recently recently BBM which we tried, however it seems it requires significant amount of conversions/clicks to work well.  It also has target position bidding in its standard platform like rules and algorithms, however again it requires sufficient data to crunch on otherwise these doesnt run when applied.  When it does have the required conversions/clicks however, it works really well and adjusts bids every 30minutes!  We had improvements for customers from 30% to 50% in cost per conversion, just by activating.
  • Adwords automated rules: For accounts with smaller amount of traffic, we see this works as stated.  If average position is at stated level, it will perfom the required bidding up/down unlike those in Acquisio.

Flexible bid strategies is a feature that Google has enabled for Adwords users to automatically set bids which could ultimately optimize for the performance goals across specific campaigns, ad groups and keywords.

When the strategy is created, it is stored in your shared library for performance tracking and centralized management. This enables automated bidding across multiple campaigns as well as within a single part of a specific campaign.

Several types of flexible bid strategies are available that are tailored for different types of Adwords management campaigns. These bids can be set depending your objective either you want to improve on the clicks, impressions or conversions where you can determine the strategy that you require.

The flexible bid strategies are

  • maximize clicks
  • target search page location
  • target cost-per-acquisition (CPA)
  • Enhanced cost-per-click (ECPC)
  • target return on ad spend (ROAS)

Maximize clicks are a more flexible version of automatic bidding which enables to assist you in getting the maximum amount of clicks within the choice of your budget. This feature is applicable when visits to your website are the primary objective.

Target search page location is a new bidding strategy which automatically adjusts bids that helps your ads to be visible at the top of the page or at the first page of search results through Adwords management. Therefore, this can be used when you want higher visibility on the first page of search results. Target cost-per-acquisition (CPA) is a conversion optimizer which automatically sets bids in order to convert as many conversions as possible while reaching the average cost-per-acquisition goal.

Enhanced cost-per-click (ECPC) is another flexible version that can be used in Adwords management which could automatically adjust your manual bid either higher or lower based on the possibility of converting clicks into conversions. This option is perfect when you want to have control over your keyword bids while at the same time converting clicks into conversions is the main objective.

Target return on ad spend (ROAS) is a new bid strategy that automatically sets bids that maximize your conversion value while trying to achieve an average return on the ad expenditure.

 

Setting it up in your campaign

To create a bid strategy you can sign in to your Adwords account and click on

“Campaigns” -> “Shared library View” (Bid Strategies section).

Then you have the option of
· Creating
· Editing
· Deleting

However, before choosing to delete a bid strategy, you will need to remove keywords, ad groups or campaigns from the shared library.

Flexible bid strategies are sure to save your time and effort and create a more arranged Adwords management campaign and you will be supported with better bid optimization more strategically to all campaigns, precise ad groups and keywords of your choice.

Whats your favourite Adwords bid strategies?