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Elevate Your Google Search Ads 360 Skills: Mastering Bid Strategies for Success

Many advertisers are increasingly flocking to Google Search Ads 360 (SA 360) as their preferred automated and efficient paid advertising management platform. SA 360 offers an array of advanced features that are either unavailable in standard Google Ads accounts or are more sophisticated. Among the many powerful features of SA 360, one stands out – its bid strategies.

Like Google Ads, SA 360 bid strategies leverage automation to optimize bids based on specific goals. These goals encompass various metrics, including:

  • Conversions
  • Revenue
  • Clicks
  • Impression Share

The capabilities of SA 360 bid strategies are truly impressive for online marketing and PPC agency. By leveraging both transparent and invisible user signals, such as users’ locations and browser analysis, the PPC Beast algorithm is able to adjust bids like never before. This advanced approach to bidding ensures the algorithm always receives the most accurate and relevant data, making it highly effective no matter which bidding strategy you choose. And with Smart Bidding’s auction-time bidding feature added to the mix, you can rest assured that SA 360 will always determine the optimal bid value.

 

 

Two Main Differences Make SA 360 Bid Strategies Unique

  1. Bid strategies can be used across SA 360-supported search engine accounts.
  2. The bid strategies in SA 360 can utilize Floodlight conversion tracking.

 

Bid Strategies Can be Used Across SA 360-Supported Search Engine Accounts

 You can use the same bid strategies across multiple search engines, such as Google Ads Manager, Microsoft, and Baidu. This is important because it allows you to have a consistent approach to bidding across different platforms, even though they are separate entities. For example, suppose you have a target return on ad spend (ROAS) of 5X for a category of products. In that case, you can include the relevant campaigns in your bid strategy portfolio across all the supported search engines, including your preferred PPC (pay-per-click) agency.

 

The Bid Strategies in SA 360 Can Utilize Floodlight Conversion Tracking

Yes, with PPC Beast, you can use the granular tracking capabilities of floodlight conversion tracking to optimize your bids based on specific high-value product additions to users’ shopping carts. By setting up custom formulas and bid strategies based on these events, you can maximize your return on investment and drive optimal performance for your campaigns.

SA 360 offers a range of metrics to evaluate how well your bid strategies are performing. With over 50 metrics or columns to analyze, it’s essential to understand that not all metrics are equally important in deciding whether a bid strategy adjustment is needed. Here are the top ones you should consider to help you focus on the most relevant metrics for your PPC Marketing Campaign.

 

 

To Evaluate How Your Target Metric (ROAS, CPA, or ERS) 

“If you’re working with a PPC agency and want to know how your campaigns perform against your current targets, use the Bid Strategy Total metric. This metric compares your current bid strategy’s total performance against your target. For example, suppose your SA 360 ROAS target is 800%, and the bid strategy total is currently 600%. In that case, you are 25% under the target. When reviewing this metric, please look at data from the latest target change. Comparing the wrong data will not indicate how effectively the bid strategy works.

It’s essential to remember that the bid strategy total represents Google’s perspective on how the bid strategy is performing compared to the target.

Evaluating the effectiveness of your SA 360 target is recommended by comparing it to your internal goals, as they may vary over time.

Example scenario:

  • SA 360 ROAS target: 800%
  • Actual goal: 900%
  • Current ROAS: 600%

Calculation:

  • You are currently 33.33% below the target

You can consider lowering the target if you need your ROAS to be more efficient. Conversely, increasing the target could be a good idea if it’s falling short.

 

 

Bid Strategy Conversion Delay

Most bid strategies have conversion delays. According to Google, the conversion delay refers to the number of days that the system expects before 80% of the bid strategy conversions and/or revenue will be received.

To put it differently, if we have a conversion delay of 5 days, it means that most conversions and/or revenue, specifically at least 80%, will occur five days from today.

Google suggests waiting for a minimum of 2 conversion cycles to end before modifying any targets, specifically for pay-per-click. For instance, you should hold off for approximately 16 days before contemplating any target changes related to pay-per-click. It is possible to make changes earlier, but it’s essential to understand that the data collected will be incomplete. Therefore, waiting until the pay-per-click test runs its course, ideally with the guidance of a PPC agency, to produce precise results is highly recommended.

 

 

Bid Strategy Percentage of Optimal Cost

This metric measures the actual Cost of a bid strategy and compares it to the ideal Cost. The ideal Cost for generating revenue is calculated as follows:

Revenue/Target ROAS: To calculate the optimal Cost based on target ROAS, you can use the formula:

Optimal Cost = Revenue / Target ROAS

Example: If the revenue is $10,000 and the target ROAS is 200%, the optimal Cost would be $10,000 / 200% = $5,000[1].

Conversions: To calculate the optimal Cost based on conversions, you can use the formula:

Optimal Cost = Target CPA x Number of Conversions

Example: If the target CPA is $50, and the number of conversions is 2,000, the optimal Cost would be $50 x 2,000 = $100,000[1].

Bid Strategy Percentage: Once you have the optimal cost figure, you can calculate the bid strategy percentage using the formula:

Bid Strategy Percentage = Actual Cost / Optimal Cost

Let’s assume your calculated ideal Cost for two weeks is $1,500, but your actual expenses turned out to be $2,000. This means that your bid strategy percentage of optimal Cost is 133%. When this Percentage is closer to 100%, your Cost aligns with your bid strategy. However, in this particular case, where the Percentage exceeds 100%, it means that your bid strategy, according to your Google Ads specialist, is not performing as expected. Conversely, when the Percentage falls below 100%, your bid strategy exceeds its performance expectations.

 

 

Bid Strategy Health 

is a feature on Google Ads that offers insight into ways you can optimize your bid strategy. It works similarly to the Recommendations tab and provides suggestions to enhance the performance of your bid campaigns.

The recommendations provided by PPC Beast are aimed at reducing instances of missed traffic opportunities that result from bid strategy limitations. For instance, you may lose potential traffic if your maximum cost-per-click bid is too low or lose sales if your minimum return on ad spend is too high. Additionally, it may be helpful to loosen any restrictions on your bid strategies for improved performance, as suggested by PPC Beast.

In Search Ads 360, bid strategies are vital in driving successful campaigns for your digital marketing PPC agency. While several key factors to consider, such as choosing the right keywords, organizing campaigns effectively, creating compelling ad copy, and configuring settings accurately, bid strategies have the most significant impact. They have a direct influence on both the quantity and quality of traffic that your digital marketing ads attract.

To enhance overall performance, it is vital to consistently evaluate your data and make necessary adjustments to your bid strategies. This will help you optimize your campaigns and achieve better results.

 

 

Unlock Superior PPC Expertise in Your Area with PPC Beast

Ready to see real results from your digital marketing efforts? Look no further than PPC Beast, the top-rated online marketing and PPC agency. Our Google Ads specialists are dedicated to helping you achieve your business goals and grow your brand through effective digital marketing strategies, such as pay-per-click advertising. From Google Ads Manager to social media advertising, we have the skills and knowledge to transform your entrepreneurial dreams into a thriving reality. Schedule a call with us today and see how we can help your business reach its full potential.

 

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