Google has released several updates regarding auction controls. This week, marketers will want to be on the lookout for accounts in the weeks and months ahead on Google Marketing Live.
Set conversions at the campaign level. This is an important and welcome addition. You will be able to set conversion goals for each campaign rather than at the account level. For example, you may have campaigns in which a download is the desired conversion action and others in which a demo request is the goal of the conversion. You can assign these separate goals to the appropriate campaigns to illuminate smart bidding strategies based on conversion and conversion reports.
In addition, you will be able to group the conversion actions into conversion action sets and apply them. at the campaign level.
Corrections of seasonality with smart bidding. Smart bidding strategies are already targeting seasonal peaks in text advertising campaigns. As we said last month, smart bidding for shopping campaigns will soon add seasonality signals, as well as price competitiveness. Soon, Google will offer an option to refine seasonality adjustments based on your own promotions schedule. For example, you can program adjustments around your promotions to account for a higher conversion volume.
New Smart Auction Strategy: Maximize Conversion Value. Google has launched the bid strategy to optimize conversions in 2017; it now adds a maximum conversion value. While maximizing conversions is designed to generate as many conversions in the budget, this new strategy aims to maximize the highest conversion value in the budget.
Conversion value rules. Value rules will be rolled out in the coming months to give you more flexibility in assigning value to conversion actions. You can set conversion value rules based on features such as location, device, and audience.
Why we should care. Manual bidding is still available, but Google has been downplaying it for a while now; According to Google, more than 70% of advertisers now use automated auctions. In this case, Google offers users more controls, not less. The purpose of these new features is to give advertisers a way to adjust to their own goals when using smart bidding strategies. Campaign-level conversion settings are probably the most important of these updates, but each provides greater flexibility to tailor your conversion and bid strategies to the specific business goals of your campaigns.
Learn more about Google Marketing Live 2019
About the Author
Ginny Marvin, Editor-in-Chief, Third Door Media , manages the daily editorial operations of all our publications. Ginny writes on paid online marketing topics, including paid search, social networking, targeted posting and retargeting for Search Engine Land, Marketing Land and MarTech Today. With over 15 years of marketing experience, she has held senior management positions in both in-house and agency management. It can be found on Twitter under the name of @ginnymarvin.