How to Create and Apply Bidding Strategies in Google Ads (2 ways)
The bidding strategies in Google Ads assist advertisers in optimizing their campaigns according to specific goals. When choosing a bidding strategy, it is important to align it with your campaign objectives and performance goals. Furthermore, it is essential to regularly monitor and adjust your bidding approach based on the campaign's performance. This guide will provide an explanation on the various bidding strategies in Google Ads, as well as how to create and apply bidding strategies in Google Ads in 2 different ways!
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Topics Covered:
Step 3️: Select the Bid Strategy of choice and click on "Apply"
Step 1️: Navigate to Tools and setting (Legacy interface) or Tools (New Interface)
Step 3️: Click on the + symbol and select the bid strategy of choice
Step 5️: Navigate to your campaigns. Select one or more campaigns and click "Edit"
Step 7: Select the Bid Strategy of choice and then click to "Use existing portfolio bid strategy"
Step 8: Choose your portfolio bid strategy and click "Apply"
What are the Bidding Strategies in Google Ads?
Target CPA (Target Cost Per Acquisition) = to restrict the cost per acquisition (maximum of $x per conversion action). Suitable if you have an absolute CPA target.
Target ROAS (Target Return on Ad Spend) = to set the amount of return to receive for every ad spend. Suitable for e-commerce businesses that measure revenue.
Maximize clicks = to gain as many clicks as possible. Suitable for non-conversion-driven strategy.
Maximize conversions = to gain as many conversions as possible, without taking into account the cost per acquisition. You can have a hybrid Maximize conversion strategy with a target CPA so that you can get as many conversions as possible within the CPA you set.
Maximize conversion value = to maximize the revenue, without taking into account the target ROAS. You can have a hybrid Maximize conversion value strategy with a target ROAS so that you can get as high of conversion value as possible and achieve your target ROAS.
Target impression share = to set a certain % of impression share to achieve. Suitable for visibility but not clicks-driven. It can be set to anywhere on the results page (any rank), top of results page (first 4 results), and absolute top of page (position 1 result).
Option 1: Campaign-specific bidding strategies
Step 1️: Select a Campaign and click on "Edit"
Step 2️: Select "Change bid strategy"
Step 3️: Select the Bid Strategy of choice and click on "Apply"
Option 2: Create Portfolio Bidding Strategies
Step 1️: Navigate to Tools and setting (Legacy interface) or Tools (New Interface)
Step 2️: Navigate to Bid Strategies under Shared Library (Legacy interface) or Budgets and Bidding (New Interface)
Step 3️: Click on the + symbol and select the bid strategy of choice
Step 4️: Configure and save your Bid Strategy
Step 5️: Navigate to your campaigns. Select one or more campaigns and click "Edit"
Step 6: Select "Change bid strategy"
Step 7: Select the Bid Strategy of choice and then click to "Use existing portfolio bid strategy"
Step 8: Choose your portfolio bid strategy and click "Apply"
