Is your AdWords bid strategy failing? Your bid strategy is important to your business. Businesses make an average of $2 in revenue for every $1 they spend on Google Ads.
There are many different ways to approach an Adwords strategy. However, it is crucial to take advantage of the features and offerings of Google.
If your AdWords bid strategy is not doing everything you want and need it to do, keep reading to learn how to maximize your bidding strategy.
What is Adwords?
Google AdWords is a pay per click, otherwise known as PPC, advertising platform. Businesses can run ads through the Google Display Network or the Google Search Network. Both platforms are run by a PPC bidding system where users must bid to have their ads shown to their desired audiences.
The Google Search Network displays ads in text form. This method is great for capturing a potential customer in the research or purchasing phase of their search. Ads are displayed in line with organic results but with an ad tag next to them.
The Google Display Network runs ads as more traditional website banner ads. These will run on websites that you think your potential customer will be on.
It is essential that you understand the platform in order to avoid big AdWords mistakes.
Create Your Adwords Bid Strategy
Now that you understand more about how AdWords works, let’s break down creating your AdWords bid strategy. Your business’s bid strategy should be based on your overall goals.
First, you must decide what kind of action you want users to take upon seeing your ad. Do you want to increase website traffic, conversions, brand awareness, video views, or brand consideration?
Once you’ve selected your goals you can utilize the Smart Bidding feature to easily optimize your conversions campaign. Smart Bidding features include:
- Target CPA (cost-per-acquisition)
- Target ROAS (return-on-ad-spend)
- Maximize Conversions
- Enhanced cost-per-click (ECPC)
If clicks are your main goal use CPC bidding. The CPC bidding features include:
- Maximizing Clicks
- Manual CPC Bidding
If clicks are your main impressions try using one of the following bid strategies:
- Target Search Page Location
- Target Outranking Share
- Cost-per-thousand impressions (CPM)
- Cost-per-thousand viewable impressions (vCPM)
Once you’ve laid out your approach, it is key to flesh out a full, and detailed strategy. Your business, or your clients, will be trusting you with money for these ad campaigns. This strategy will need to flex from one campaign to another and you’ll need to tweak it depending on overall goals.
AdWords bid strategies can be confusing, but it’s worth the hassle as consumers exposed to display ads have been found 155% more likely to search for brand-specific terms.
Advertise with KonvertLab and Adwords
The world of AdWords and creating your business’s AdWords bid strategy can be daunting. Working with KonvertLab, a PPC agency makes it easy! We help scale campaign profitability by three times.
Do you want to get the most out of your AdWords advertisements? Contact KonvertLab today and we’ll help you improve your AdWords bidding strategy, and more!