Google has introduced three new bidding strategies for Google Ads advertisers that offer more flexibility than Smart Bidding.
Over 70% of Google Ads advertisers are now utilizing some form of automated bidding, including Smart Bidding.
While users are satisfied with Google’s automated bidding solutions, they’ve expressed a need for more customizations.
In response, Google has introduced these three new bidding innovations.
Campaign-level conversion settings
Advertisers will be able to set conversion goals at the campaign level.
Previously, advertisers were limited to set conversion goals at the account level. That meant all campaigns within the account would have the same conversion goals.
Now, advertisers can map relevant conversion goals at the campaign level. Google notes that this will be especially useful for accounts that have clearly differentiated campaign goals.
Advertisers have been asking for more control with regards to seasonality beyond what is offered by smart bidding.
Specifically, advertisers need controls to account for ad hoc events like one-time promotions. So Google Ads is introducing seasonality adjustments.
One way seasonality adjustments could be used is to schedule an adjustment for periods of time when conversion rates are expected to spike.
Maximize conversion value
Maximize conversion value is a new bidding strategy that allows advertisers to optimize for the most conversion value within a specified budget.
Until now, bidding strategies around conversion have been more focused on efficiency.
Lastly, in the coming months, Google Ads will be rolling out value rules which let advertisers differentiate conversion values based on characteristics like location, device, and audience.
With value rules, advertisers can customize conversion values so they align more closely with business goals.