Google has introduced new bidding strategies to meet its customer’s business goals.
Here are all those new bidding strategies-
Campaign-level conversion setting
To offer more customization and flexibility within accounts, Google is introducing campaign-level conversions. Earlier, marketers were able to set conversion goals at the account level. This meant that all campaigns inside the account would be integrated into the same set of goals. Now, marketers can analyze relevant conversion goals at the campaign level. This strategy will benefit accounts that have distinguished campaign goals.
Since Smart Bidding includes seasonality, Google has come to know about the requirements for more controls to account for ad hoc events like one-time promotions. This leads us to introduce seasonality adjustments. For instance, if you know that your conversion rates will increase because there is an upcoming promotion, you can plan the right adjustment for that period.
Maximize conversion value
Google also comes up with a new bidding strategy called Maximize conversion value. Till today, bidding strategies around conversion value were largely efficiency-driven, like Target ROAS. As a marketing company, we understand many marketers are generally on volume and growth. This new conversion value allows a marketer to optimize for the most conversion value in a particular budget.
Finally, we’ll be introducing value rules in the coming months. We understand that conversions are not always valued equally.
It allows users to differentiate conversion values based on characteristics like location, audience, and device. With the help of this, you can customize conversion values so they align more closely with business goals.
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