How to Use Google’s Smart Bidding to Spend Your Budget More Effectively

In the world of digital marketing, automation has become increasingly important.

While many business owners may feel reticent to invest in any type of automation — usually for fear of it replacing their functionality — it’s crucial to keep in mind that automation in digital marketing will help you grow your business. Smart tools are useful, cost efficient and should not hinder the results of your ad performance.

If you’re already running campaigns on Google, it’s time to start taking advantage of the platform’s automated bidding tools to elevate your digital marketing strategy. Keep reading to learn how to use Smart Bidding to run more efficient and effective ad campaigns.

What Are Google Ads Automated Solutions?

Before we begin discussing Smart Bidding strategies in detail, let’s quickly review the goal of Automated Solutions.

According to Google, “Google Ads Smart Bidding and Smart Creative solutions use machine learning that analyzes millions of signals in real time to show the right message, to the right customer, in the moments that matter.

So, instead of having to spend time manually optimizing your ads or bidding, you can get better results faster with the help of automated solutions.”

From this definition, it’s clear that Google has an optimistic outlook when it comes to the anticipated success that results from using strategies like Smart Bidding. Here, it’s important to remember that this is, in large regard, a trial and error process. While Smart Bidding can do wonderful things for your bottom line, not every Smart Bidding solution will be right for your business. It’s important to choose your strategy wisely and be ready to reanalyze, readjust, or start over as needed.

Smart Bidding Strategies

Smart Bidding doesn’t necessitate manual adjustments and most importantly focuses on driving conversions. Leads are achieved with the use of machine learning tools, which optimize for conversions. There are several sub-strategies within the Smart Bidding ad solution.

With your Smart Bidding ad strategy, you can choose to:

  • Target CPA: Aims to stay at or below the target cost-per-action you’ve designated while getting as many conversions as possible.
  • Target ROAS: Uses your return-on-ad target to optimize each bid automatically and get the largest possible revenue.
  • Maximize Conversions: Uses historical information to create optimal bids and get the most conversions (while staying in your budget).
  • Maximize Conversion Value: Uses historical information to create optimal bids that will get the most valuable conversions (while staying in your budget).
  • Enhance CPC: Uses historical information and adjusts manual bids to get the most clicks that will lead to conversions.

Why Smart Bidding Helps Digital Marketers

Smart Bidding offers numerous benefits, including:

  • More time available to focus on testing ad copy, testing ad extensions, testing new offers, and researching keywords
  • Adjustments for contextual factors when bidding, including locations, times of searches, devices being used, ad characteristics, and more
  • With the “Bid Strategies Report,” the ability to continue analyzing and gaining insight for even better ad targeting

Have Questions About Smart Bidding? How Can We Help?

It is critical for businesses of all sizes and in all industries to stay up-to-date on Google’s ever-changing ad platform. Not only will this increase your advertising and marketing efficiency, it will also help you set and reach goals much more effectively.

As a digital marketing agency, Nowspeed has been helping improve their digital marketing results for nearly 20 years. We can help your business see real growth that will directly improve your bottom line.

To learn more about our digital marketing services and how we can help your business grow, contact Nowspeed today.

Let’s start accelerating your success.

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