PAY PER CLICK BIDDING STRATEGIES : HOW TO SET YOUR BIDDING STRATEGY ?

Did you know that 85% of companies focus on creating a Google Bidding strategy? If you haven’t established an optimized Pay Per Click Campaigns, you’re lacking an opportunity to attract valuable leads and conversions for your business. If you want to generate a successful PPC campaign, start by setting a Pay Per Click Bidding Strategies. Your Google Ads bid management strategy will help you run your campaign toward success.

In this article, we’ll cover what is PPC Bid Management, How to set up your PPC bid amount. And don’t forget Maxmetamark Advertising is the best Advertising Agency in Delhi that can help you in creating an effective,custom based Pay Per Click Ads campaign.

A. What Is PPC Bid Management ?

PPC bid management is the process of strategically raising and lowering your keyword bids to get the most out of your advertising budget.

Your bid impacts where your advertisements appear in search results and determine how much you pay each time someone clicks on your ad.

If you want to get the most out of your budget, it is important that you choose the right bid strategy to regularly drive results.

PPC bid management will help you choose bid amounts that will work best for your campaigns to help your business succeed.

There are few important key terms that you will come across when you start managing and optimizing your PPC bids.

1. Cost Per Click (CPC)

Cost Per Click (CPC) is the most common word that you will hear when implementing PPC campaign management. CPC is the maximum amount of bid you are willing to pay for a given keyword.

2. Cost Per Mile (CPM)

Cost Per Mile is a cost per thousand impressions bid management model. You will pay for every thousand people that view your ad. You don’t pay for clicks on your ad but you need to pay when your ad will appear in search results.

3. Cost Per Acquisition (CPA)

Cost Per Acquisition (CPA) is how much you want to pay per conversion. With this metric, you either specify a maximum CPA or target CPA for each ad group. CPA is based on how much your business can spend to acquire new customers.

4. Quality Score

Quality Score is an important factor for determining your Pay Per Click Ads ranking. It is a grade that Google gives to your ad based on keyword relevancy, ads relevancy and other factors. The quality score will determine your ads placements in search results.

These are four important terms that you will see when you will create your PPC ads. It’s important that you understand these terms so that you can create a better PPC campaign for your business.

B. How To Set Your Bid Amount To Get Maximized Return - Google Ads Bidding Management Strategies.

Let's move on to how to set your PPC bid amount to get the maximum return. If you’ve never set a bid amount for a PPC campaign, you may not know where to start.

• Use Keyword Research Tools

The first step is to find relevant keywords for your campaigns.We can do this by using keyword research tools to help you find relevant keywords.

Google Ads offers free keywords planner tools to help you find keywords, but there are various other options out there for your business. These keyword research tools help you identify new keywords for your campaign.

They also help you see a suggested bid amount for each word to give you an idea of how much you would need to spend for that keyword. This is the best way to help your business identify keyword opportunities to help you reach significant leads. You will also have good insight into how much you can expect to pay for that keyword, which will allow you to optimize your strategy.

• Set Bid Management Goals.

You must set goals for your bid management strategy if you want to precisely measure your campaign’s success.

There are numerous goals you can set for your campaign, including:

a) Increasing Traffic on your website by driving clicks.

b) Increasing Brand exposure by driving impressions.

c) Increasing Sales by driving conversions.

d) Increasing Leads by driving conversions.

These are some few goals you can set for your Pay Per Click campaign. Setting goals will help you know what you’re trying to achieve and properly measure the results. According to your goals, you must select your bid management strategy.

Google Ads provides the following Smart Bidding Strategies depending upon the goals of your campaigns.

1. Focus On Conversions With Smart Bidding.

If you want customers to take a direct action on your website, and you're using conversion tracking, then it may be best to focus on conversions. Smart Bidding is a set of automated bid strategies that uses machine learning to optimize for conversions or conversion value in each and every auction—a feature known as “auction-time bidding.”

Below are the Smart Bidding strategies you can use.

(i) Target Cost Per Acquisition(CPA):

If you want to optimize for conversions, you can use Target CPA to help increase conversions while targeting a specific cost per acquisition (CPA). With target CPA, you identify how much you’re willing to spend to produce an action.

For example, you may decide that someone signing up for your email list through your PPC ad is worth $20. From this amount, you can set your PPC bid amount accordingly.

(ii) Target Return On Assets (ROAS):

Target Return On Assets specifies what type of return on ad spend that you want from your ads. This is generally used by e-commerce businesses. You establish what you’re expecting to get back from investing in advertising.

If you want to optimize for conversion value, you can use Target ROAS to help increase conversion value while targeting a specific return on ad spend (ROAS).

(iii) Maximize Conversion :

If you want to optimize for conversions, but just want to spend your entire budget instead of targeting a specific CPA, you can use Maximize Conversions.

Maximize Conversions focuses on optimizing your bid strategy to help you earn the most conversions. Google automatically works with your budget to help your campaign focus on obtaining more conversions.

(iv) Maximize Conversion Value:

If you want to optimize for conversion value, but just want to spend your entire budget instead of targeting a specific ROAS, you can use Maximize Conversion Value.

This bidding strategy allows you to maximize the total conversion value of your campaign within your budget. It automatically finds an ideal bid for your ad each time it is eligible to appear. It helps to get more conversions that are profitable for your campaign.

(v) Enhanced Cost Per Click:

This bidding strategy allows you to adjust your bid up or down to optimize for conversions. It’s a good way to help you maximize your budget to reach more valuable leads.

If you want to automatically adjust your manual bids to try to maximize conversions, you can use ECPC.

2. Focus On Clicks With CPC Bidding Strategy

If you want to generate traffic to your website, focusing on clicks could be ideal for you. Cost-per-click (CPC) bidding may be right for your campaign.There are two cost-per-click bid strategies to consider:

(a) Maximize Clicks:

When you set your ad bidding strategy option to maximize clicks, Google will adjust your campaign to get you as many clicks as possible.

It is an automated bidding strategy. This is the simplest way to bid for clicks. All you have to do is to set an average daily budget, and the Google Ads Manager automatically manages your bids to bring you the most clicks possible within your budget.

(b) Manual Cost Per Click (CPC):

Manual CPC allows you to set the maximum amount you’re willing to pay each time someone clicks on your ad. You set an amount your business is comfortable with and never pay over that amount.

This bidding strategy lets you manage your maximum CPC bid yourself. You can set different bids for each ad group in your campaign, or for individual keywords or placements. If you've found that certain keywords or placements are more profitable, you can use manual bidding to allocate more of your advertising budget to those keywords or placements.

3. Focus On Visibility :

If you want to focus on visibility, you can go with one of the following bid strategies to help maximize visibility.

i. Cost Per Mile (CPM) :

With this bid strategy, you’ll pay based on the number of impressions (times your ads are shown) that you receive on YouTube or the Google Display Network.

ii. tCPM:

A bidding strategy where you set an average for how much you are willing to pay for every thousand impressions. It optimizes bids to maximize your campaign’s unique reach.

iii. vCPM:

This is a manual bidding strategy you can use if your ads are designed to increase awareness, but not necessarily generate clicks or traffic. It lets you set the highest amount you want to pay for each 1,000 viewable ad impressions on the Google Display Network.

C. Conclusion

Pay Per Click Bid Management is a powerful method for helping your business reach more people interested in your products or services. When you optimize your PPC bid strategy, you will help your business achieve better results. At Maxmetamark Advertising, we know how to create a Pay Per Click Campaign that helps our clients grow their business. So Start Using Pay Per Click Bid Management to create a more effective campaign today.