SPEAKER: A dynamic market can affect businesses
in different ways, causing some to have
to manage more complexity and uncertainty when it comes
to media strategy and planning.
Google is here to help.
Automation tools like Smart Bidding
can help take care of this complexity,
saving you time while you work towards your marketing
objectives.
This is why more than 70% of Google advertisers
trust and use fully-automated bidding strategies.
In this video, learn why Smart Bidding is helpful and relevant
during dynamic times, and what best practices to follow
to help meet your goals.
Focusing on auction time and proactive bidding,
Smart Bidding bids down on auctions
with no or low conversion likelihood
and tries to achieve a goal with every single auction.
Using cross signals for every conversion and auction,
Smart Bidding measures and bids with all signals combined.
Using your account-wide conversion data,
Smart Bidding captures recent and aggregated trends
across your conversions, while focusing on your marketing
goals.
Smart Bidding can also handle changes
in the marketplace, such as search volume and click volume
changes or sustained changes to conversion rates
over longer periods of time.
If you're expecting major changes in your conversion
rates over a short period of time,
Smart Bidding may take a few conversion cycles to adjust.
In the meantime, you can change CPA or ROAS
targets or your budgets if you need to manage bids and spend.
Pro tip-- in a dynamic market, it's
OK if target and budget changes are larger
or more frequent than usual.
This won't negatively impact you since marketing can
react quickly to these changes.
What best practices should you follow to optimize performance?
Monitor your bid strategy report and understand your bid
strategy status.
Look at performance at a high level
since these strategies are optimized for performance
at the campaign or portfolio level.
Review performance after your conversion lag has elapsed.
If it takes two days for an average sale to occur,
wait two days to review those performance metrics.
This ensures all conversions after the initial click
have been accounted for when you evaluate performance.
Your bid strategy report will remind you of this timeline.
Use portfolio bidding with shared budgets
to group campaigns that have similar targets or budgets.
This can help drive efficiency.
If you're looking to be more efficient,
adjust targets by reducing target CPAs
or increasing target ROAS, or adjust budgets as needed.
Smart Bidding will learn to optimize within the constraints
you set.
If you're looking to increase investment and conversions
or conversion value, consider broadening, targeting,
and increasing budgets.
Smart Bidding pairs well with Broad Match and dynamic search
ads since it can optimize for performance across a wider
range of queries.
Check your Recommendations page for tailored opportunities that
can be applied in one click.
Use tools like Performance Planner, target simulators,
and budget simulators to understand
the impact of target and budget changes on key metrics.
Remember, Smart Bidding uses auction time signals
like location, search query, and your past conversion data
to optimize bids for every auction,
helping you meet your marketing objectives
during dynamic times.
For more step-by-step videos on Google Ads implementation
and optimization, check out Google Ads tutorials.
If you have any questions or for more information,
please visit Google Ads Help.
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