Surface Scratch: AdWords Smart Bidding
Stop the hassle to optimise campaigns manually. Although you have full control over your advertising campaigns, when data gets larger, more time is consumed. With the advent of machine learning in various facets of our lives, Google already has the technology to help advertisers optimize their campaigns more efficiently. Inevitably, machine learning is becoming the future of search.
What is AdWords Smart Bidding
Google’s new automated bid strategy, called “Smart Bidding”, combines machine learning and contextual signals to offer a logical solution to optimize a campaign, based on the performance targets that have been set. There are multiple Smart Bidding strategies available:
♦ Target ROAS (Target return-on-ad-spend)
♦ Target CPA (target cost-per-acquisition)
♦ Enhanced CPC (Cost-per-click)
♦ Maximum conversions
Each strategy supports different marketing goals. There’s no one-size-fits-all bidding strategy, but they all have their own pros and cons, depending on what you need from them.
The Benefits of AdWords Smart Bidding
There are many benefits that come with using AdWords Smart Bidding:
1. Advanced machine learning
Smart Bidding uses machine learning algorithms to help you make more accurate predictions on how different bid amounts might affect conversions or conversion value,
2. Wide range of qualitative data
You can factor in a wide range of qualitative data to their bid optimisation. This gives you information about a person or the context at the time of a particular auction. For example, information as to which device or location is being used.
3. Customizable performance settings
AdWords Smart Bidding enables you to set performance targets and customize settings to your individual business goals. Besides, you’ll even be able to set device-specific performance targets for mobile, desktop and tablet.
4. Detailed performance reporting
AdWords Smart Bidding offers reporting tools that give you deeper insight into your bidding performance and allows you to quickly solve any issues. From bid strategy statuses, bid simulators to campaign drafts and experiments, AdWords Smart Bidding allows you to control too. Put simply, you get improved performance with lesser time spent.
AdWords Smart Bidding works well for SMEs or large businesses. As a marketer, you need to have the ability to approach campaigns thoughtfully and scientifically. Not every campaign can get guarantee a great result, but making the effort to test is a key factor in your optimizing process.