Smart bidding has now become the foundation for most marketers’ campaigns, taking away the time-intensive leg work of manual bidding.
It has made been made even more accessible as Google has steadily removed restrictions that would have prevented a lot of smaller businesses from taking advantage of this great tool, however, Smart bidding is only as good as the data you feed it.
In this blog, we discuss the new features that Google has released to make your campaigns even more intelligent.
Top signals report for Target ROAS and Maximise Conversion Value
The top signals report is a great tool to really understanding what type of users/audience are really interacting with your ads. This can help you prioritise anything from which locations to target, to which keywords or types of keywords work best, to the times that convert most for you within a day.
This only used to be available for the Target CPA and Maximise conversion bid strategies though. However, with Google emphasising more value-based bidding, you can now see what top signals are getting you your ROAS targets and bringing in the most value with the smart bidding strategies tROAS and Maximise conversion value, to help make your campaigns even more targeted and powerful.
Seasonality adjustments at the manager account level
Smart bidding already takes into account various seasonalities that happen, but ultimately you know your or your clients business better than any machine, thus you can now adjust for specific seasonality adjustments that Google’s machine learning may not know is relevant to your business!
To save you even more time, if you have multiple accounts under the same MCC, and all are closely related, you can set a seasonality adjustment at the management level rather than make one for each and every account.
NOTE: Seasonality adjustments are only available with the tROAS and tCPA smart bidding strategies.
Implement maximise conversion value bidding with recommendations
Before where you would have had to think about and manually go in and opt for Maximise conversion value, Google is now making it easier by letting the system recommend and auto-apply the setting to your campaigns from the recommendations tab!
It’s always still recommended to review the suggestion in detail but if you have set values to each of your conversions, Google will use the learnings from your campaigns to try and make the best decision for you
Predict performance with Target impression share simulators
Previously the simulators available on Google only applied to conversion and click-based strategies such as maximise clicks or conversions. Now, this is being expanded to take target impression share into account.
Target impression share strategies are useful for when you know if you operate best in a particular impression share or keeping your brand image up. With the simulator expanding into this metric, you can see if any change in your target impression share has a significant impact on other metrics such as cost, conversions and traffic!