How Flexible is PPC Google AdWords Flexible Bid Strategies?
What is Flexible Bid Strategy? –
- Automatically set bids to optimize for your target performance across specific campaigns, adgroups, and keywords. Or in other way, if you have specific goals in mind, try flexible bid strategies to have Google AdWords adjust bids based on your goals.
Benefits of –
- You can maximize clicks on lower performing keywords with the help of “maximize clicks within target spend” flexible bid strategy
- You can maintain display of ads on the first page of Google search for your performing keywords with “Target Search Page Location” flexible bid strategy
Types of –
- MAXIMIZE CLICK – maximize clicks within a given target spend. Applies at campaign, adgroup and keyword level
- TARGET SEARCH PAGE LOCATION – place your ads to the top of the ppc ad results or first page of search results. Applies at campaign, ad group and keyword level
- TARGET CPA – maximum conversion while attaining your avg CPA goal. Applies at campaign and ad group level
- ENHANCED CPC – adjust bids likely to results in conversion or down size non-performing keywords bids. Applies at campaign and adgroup level
- TARGET ROAS – automatically set bids to maximize conversion value, thus achieving an avg return on spend. Applies at campaign, ad group and keyword level
- MAXIMIZE CLICKS – helps you to increase clicks for any set of keywords, ad groups or campaigns within a target spend. If you forget to define the target spend, then AdWords will try to spend the remaining daily budget from any of the campaigns. If set a target spend higher than your daily budget, your total cost will be confined to your campaign daily budget only. You can apply maximize clicks automatic strategy to few of the keywords and manual strategy to rest all
- TARGET SEARCH PAGE LOCATION – helps adjust your ads in the top of the search results targeting the Search Network only. To be clear, the final placement irrespective of bid mainly is determined by the outcome of the ad auction depending on quality score and competition.
- TARGET CPA – automatically adjust your bids trying to achieves as many conversions at an avg CPA. Conditions to opt for this strategy are; your ad groups or campaigns have received 15 conversions in last 30 days
- ENHANCED CPC – automatically raises the bids up to 30% on the potential converting keywords or lowers it as much as 100% depending on a click’s eligibility to convert.
- TARGET RETURN ON AD SPEND (ROAS) – It’s important to have assigned a value while set-up the conversion tracking code for this to work. Target ROAS is the avg conversion value that you’d like to achieve for each $ spend on ads. Mathematically, you can determine target ROAS by multiplying Conversion Value per Cost by 100x
Graphical Chart for Explanation;