As consumer journeys become more complex, it’s more important than ever to help marketers scale with automated solutions. Businesses large and small have been using Google’s Smart Bidding technology to set more precise bids tailored to each and every auction. In fact, more than 70% of all advertisers use Google Ads automated bidding today.
And while many of you have told us that Smart Bidding has helped drive better performance, you’ve also asked for more flexibility to reach your business goals. That’s why earlier this week at Google Marketing Live, we unveiled three new bidding innovations:
- Campaign-level conversion setting: To provide more flexibility and customization within accounts, we’re introducing campaign-level conversions. Previously advertisers could set any conversion goals at the account level. However, that meant that all campaigns within that account would be tied to the same set of goals. Advertisers will now be able to map relevant conversion goals at the campaign level. This will be especially useful for accounts that have clearly differentiated campaign goals (e.g., campaigns representing different lines of business or distinct marketing budgets).
- Seasonality adjustments: While Smart Bidding incorporates seasonality, we’ve heard the need for more controls to account for ad hoc events like one-time promotions. That’s why we’re introducing seasonality adjustments. For example, if you know that your conversion rates will spike due to an upcoming promotion, you can schedule an appropriate adjustment for that period.
- Maximize conversion value: We’ve announced a new bidding strategy, Maximize conversion value. Up until now, bidding strategies around conversion value were largely focused on efficiency (e.g., Target ROAS). We understand many advertisers are more focused on volume and growth. Maximize conversion value allows an advertiser to optimize for the most conversion value within a specified budget.
- Value rules: Finally, we’ll be introducing value rules in the coming months. We understand that conversions are not always valued equally. Value rules will let advertisers differentiate conversion values based on characteristics like location, device and audience. This will allow you to customize conversion values so they align more closely with your business goals.
These are just a few of the announcements made at Google Marketing Live this week. Check out the Google Marketing Live site to see these and all the other products we announced.
Posted by Anthony Chavez, Director, Product Management