Google Ads has had various options for automated bidding for some time now but three new bid strategies have been launched. These new bid strategies are in response to advertisers after feedback that the current ones can be limited depending on their objectives.
Campaign-level conversion settings
This allows advertisers to set conversion goals for use within a bid strategy at the campaign level. This is a change from setting the conversion goal at an account level and allows advertisers to have different goals per campaign. This is especially important if you want to count all conversion actions against a campaign but optimise towards only one of them.
Maximise conversion value
This new bid strategy allows advertisers to optimise bids towards keywords, products or display targeting which lead to a higher conversion value.
Google Ads bid strategies until now were not great at understanding sudden peaks in activity owing to seasonality, for example a promotion or sale. This is especially the case for smart bidding. This new element to bid strategies will allow advertisers to let Google know to expect a fluctuation in performance.
Google will also be introducing value rules that allow advertisers to differentiate conversions based on device, location and audience. In future with value rules it will be possible to customise conversion values to align to your business.
We’re excited to try these new bid strategies and for any help with optimising your Google Ads campaigns don’t hesitate to get in touch!