Using the wrong bid strategy on Google Ads will not only burn through your ad budget...
...but will also damage your profits.
Here are 5 Google Ads bid strategies and when to use them ๐งต:
...but will also damage your profits.
Here are 5 Google Ads bid strategies and when to use them ๐งต:
1/ Goal: Drive traffic
If you want to drive maximum traffic, Max Clicks bidding is right for your campaign.
Can be used if your offer is top notch.
But It's inefficient because it doesn't optimise for conversions or revenue...
Only clicks.
If you want to drive maximum traffic, Max Clicks bidding is right for your campaign.
Can be used if your offer is top notch.
But It's inefficient because it doesn't optimise for conversions or revenue...
Only clicks.
2/ Goal: Drive revenue
Want more revenue and not fussy about cost per customer?
Use Max Conversion Value (MaxCV)
This automatically upscales ad spend on:
Keywords
Audiences
Locations
Etc...
That return brings the most revenue.
Want more revenue and not fussy about cost per customer?
Use Max Conversion Value (MaxCV)
This automatically upscales ad spend on:
Keywords
Audiences
Locations
Etc...
That return brings the most revenue.
This strategy needs 2-4 weeks of run time for Google to optimise.
Use this strategy on new ecommerce campaigns to generate as much data as fast as possible.
Use this strategy on new ecommerce campaigns to generate as much data as fast as possible.
3/ Goal: Drive Return On Ad Spend
Want to drive revenue based on your ad spend?
Use MaxCV + Target-return-on-ad-spend (tROAS)
Use this for mature campaigns that have the data to inform the return on ad spend target.
Want to drive revenue based on your ad spend?
Use MaxCV + Target-return-on-ad-spend (tROAS)
Use this for mature campaigns that have the data to inform the return on ad spend target.
4/ Goal: Drive conversion rate
Want leads, bookings, sign-ups, etc... and not worried about the cost to get them?
Use Max Conversions (MaxC).
This automatically upscales ad spend on:
Keywords
Audiences
Locations
Better for lead-gen purposes than ecommerce imo.
Want leads, bookings, sign-ups, etc... and not worried about the cost to get them?
Use Max Conversions (MaxC).
This automatically upscales ad spend on:
Keywords
Audiences
Locations
Better for lead-gen purposes than ecommerce imo.
5/ Goal: Decrease CPA
Want to optimise conversions while maintaining a budget for each conversion?
MaxC + Target Cost Per Acquisition (tCPA)
This strategy helps increase conversions within a set budget for each conversion.
Want to optimise conversions while maintaining a budget for each conversion?
MaxC + Target Cost Per Acquisition (tCPA)
This strategy helps increase conversions within a set budget for each conversion.
Now let's contextualise this for eCom.
Here are the strategies I would use:
Here are the strategies I would use:
Situation:
New campaign to acquire customers using Google Search
1. Set bid strategy to MaxCV
2. When at roughly 50 conversions a month set to tROAS with the given data.
New campaign to acquire customers using Google Search
1. Set bid strategy to MaxCV
2. When at roughly 50 conversions a month set to tROAS with the given data.
Situation:
New campaign to acquire leads using pMax
1. Set bidding to Max Conversions
2. Set a Target CPA once you're getting 30-50 conversions per month.
New campaign to acquire leads using pMax
1. Set bidding to Max Conversions
2. Set a Target CPA once you're getting 30-50 conversions per month.
These automated bidding strategies allow you to work on your conversion rates while managing your budget efficiently.
Use the right strategies and you should be golden to start optimising and increasing your ROAS!
Use the right strategies and you should be golden to start optimising and increasing your ROAS!
That's a wrap!
If you enjoyed this thread:
1. Follow me @georgeclementss for more of these
2. RT the tweet below to share this thread with your audience
If you enjoyed this thread:
1. Follow me @georgeclementss for more of these
2. RT the tweet below to share this thread with your audience
Want to increase your current monthly revenue?
If you're an e-commerce business owner doing over $20k p/m book a free demo call with myself today using the link in my bio
I'll show you our exact strategy to scale brands to $100k+ months.
If you're an e-commerce business owner doing over $20k p/m book a free demo call with myself today using the link in my bio
I'll show you our exact strategy to scale brands to $100k+ months.
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