Google recently launched one more bidding strategy to its smart bidding strategy portfolio for AdWords
Like other smart bidding strategies it uses machine learning to bid in every auction and adjust the cpc to get maximum conversions out of the allocated budget. It uses various contextual signals for finding the appropriate bid. Campaigns with sufficient conversions would be ideal for testing this strategy initially. Campaign Budget will be an important component to adjust before you apply this strategy especially for the campaigns which are under-spending as they are often overlooked for the budget otherwise you may end up spending more for the experiment.
Few nitty- gritty before you start experimenting:-
- Conversion Tracking should be in place
- Campaign should have independent budget not shared budget
- Adjust your campaign budgets for underspending campaigns as this strategy will consume the full allocated daily budget. Hence the daily account spend is bound to increase.
- Test it for both underspending and limited by Budget campaigns to get the deeper analysis and insight.
- Keep a track of quality of conversions you are getting as “maximize” strategy will only focus on numbers rather than quality. For best results apply it to a strongly optimized campaign.