Get Smart: 3 Ways to Use Machine Learning For Your Smart Ad Bidding Strategy

Modern businesses know that digital marketing is crucial in thriving in this online-dominated landscape. Start-ups and leading enterprises alike take the extra mile to establish a prominent presence by running a stellar website. Social media marketing helps expand your brand, while quality AdWords campaigns help boost up your ranking to put your company on the map for better visibility.

Even after combining various strategies under digital marketing, meeting your CPA goals can still be a tricky ordeal. If you find yourself missing the mark, it’s time to let the robots catapult you forward by allowing machine learning to take over your AdWords smart bidding strategies. 

What is Smart Bidding? 

One of the best strategies to use in 2020, smart bidding, refers to a set of automated bid strategies under Google Ads. This means that Google leverages machine learning to oversee your keywords, behaviors of your target audience, and other data like the location, user devices, historical performance, and even the time of day users are active to maximize your conversions. 

You can approach smart bidding using five significant strategies, which includes the following: 

• Maximize Conversions – this strategy focuses on maximizing your conversion by optimizing your bids according to your daily budget set for Google Ads.
  

• Target Return on Ad Spend  – as the moniker suggests, this lets you hone in on the revenue by using your account’s historical conversion values to set bids automatically.
  
• Target Cost-Per-Acquisition – a strategy that allows you to optimize your bids by targeting your end-goal for your CPA. Simply put, it makes use of your budget for every cost you pay for each conversion.
  
• Target Impression Share – unlike the rest of the strategies on the list, this is all about increasing your search ad impressions to help your brand generate leads.
  
• Enhanced CPC Advertising – depending on whether your clicks are getting enough conversions, enhanced CPC can raise or lower your bids on your behalf. 

While smart bidding saves you time and effort as Google’s robots handle your data, you still need to know the best times to use smart bidding if you want to ensure it is useful and meets your unique needs. 

In Conclusion: When to Use Smart Bidding vs. Manual CPC

It’s easy to think that smart bidding is the best choice for all businesses seeing as it lets marketers “set and forget” campaigns, but there are specific cases that call for smart bidding, while others are better suited for manual CPC.

If your businesses have historical data in your account, wherein your conversion tracking is correctly set up, and the value data is being imported to your account, then smart bidding is the right choice for you. 

Utilizing smart bidding can help take away the trouble of optimizing your campaigns, giving you more room to focus on other strategies that can improve your bottom line.

If you’re looking for more professional tips and help in Greenwood, Indiana, we’re a digital marketing agency that specializes in local SEO services for businesses – get in touch with us today to see how we can help you implement smart bidding strategies in your marketing efforts.