Here are some of the commonly used bidding strategy in Google Adwords by different business for their campaign.
But before selecting a bidding strategy for your campaign it is important to understand Goal or Purpose of the campaign. As it helps us to analyse whether we have achieve our goal or not.
Conversion Focused Bidding Strategy:
Companies whose aim is to get new clients on board would not focus on clicks as they are more interested in people signing up for trial or demo, filling up an inquiry form.
Target CPA looks more appropriate for such companies as it focuses on whatever conversion action is defined by the business.
- Lead Generation as the main target
If generating a lead is the main objective of your business or acquiring a new customer to sign up for your services, downloading an app, or registering for a webinar then this strategy would suit your objective.
Also, if you don’t want to pay for clicks received on ads and want play only for conversion to take place (conversion here can be customer signing up for service).
This bidding strategy best suits to e-commerce website as they have multiple conversion and the conversion values differ.
So, when you use this strategy you need to make sure each conversion is tracked in Google Ads.
Click Focused Bidding Strategy:
- Lack of Data / New Campaign
If you are starting up a new campaign that you have never tested and for which you lack data.
This strategy will help you gain more clicks to understand the data in a much better way.
Manual CPC bidding best suits when
- When automated Strategies can’t help
There have been instances where your automated bidding is unable to meet your target or campaign goal.
This is where manual CPC comes into the picture as it gives you absolute control over your bids at the keyword level.
Visibility Focused Bidding Strategy:
CPM (Cost per Impression)
- Brand Recognition
If you have started a new business or have launched a new product and you want your brand or product to get recognize.
Then CPM strategy would suit your campaign goal as it ensures that your ad is seen by the maximum number of users. Also, it is cost-effective compare to other bidding strategies.
VCPM (Viewable Cost per Impression)
- Brand Awareness
This strategy is mainly used by big companies who want to get their message in front of a large group of people.
You can also choose this strategy if you are confident enough that your ad is compelling enough for users to click.
- Ads to be shown at a certain place
If you want your ads to be shown at a certain section of the page like the top of the page or middle or bottom of the page.
This strategy would work perfectly if you’ve launched a new product line or change your brand name and you want to make sure it is seen by as many as possible.
Views or Interaction Focused (Only for video ads)
CPV (Cost per View) bidding best suits for
- Customer Acquisition
Traditionally this bidding strategy was used only for brand awareness. However, now the buying is increased by the performance app advertisers as well.
As it will help in serving two purposes that is CPI (Cost per install) and CPM (Cost per impression).
Always select a strategy based on your campaign target or what purpose you want to serve.
You cannot serve two different purposes from a single bidding strategy.
Try to test a different bidding strategy for your campaign as there is no guarantee which bid strategy works for your competitor might work for you as well and vice versa.
But lastly, understanding all the different types of strategy is very important as it gives you leverage in selecting the best bidding strategy for your campaign.