4 Lessons regarding automated bidding we learned during the pandemic
August 22, 2020
Many of us end up spending a lot of money on our Google Ads Campaigns and end up getting nothing in return.How to get a solution for this? Especially when COVID-19 has taken a toll over the entire globe, how to control your spendings and save yourselves from any kind of loss? How much money have you earned or lost depends on your bidding strategy. Only if you choose the right bidding type and implement a correct strategy to drive your ad costs down. If you aren’t familiar with the types and the different options, you might end up being in trouble because in such cases, you would generally opt for a random option. But since automated bidding has taken the toll, the focus has now transferred to picking the right automation.
Many of us might have tried coping with the mechanism on which automation runs but we cannot actually learn it!
“If you do use automated bidding, I think it’s always vital to remember that it’s just a tool and the results will only be as good as the rules you set. Evaluate them often to ensure they are still in line with your overall goals” – Crystal Anderson
Let me tell you the benefits of using a smart bidding strategy.
It helps to divide the broader audience based on their interest and behavior.
If you have a complex account, you can rely on automation bidding to manage your ad groups.
It also helps you in decision making as it makes accurate projections about your campaign.
It helps to get the right audience for you.
Even then, advertisers are sceptical on how well automated bids run during unusual times and whether pausing campaigns will affect the bidding performance. Automated bidding primarily works by bidding upon the factors that are likely to get converted to a click. But with the global pandemic bringing a halt, how to pursue it? Covid – 19 outbreak has made us realise and given us new insights to how automated bidding works. Scroll to know more.
1. Quickly adapts to changes
Automated bidding considers aggregated and recent trends. So, it can easily adapt to the recent trends of the market and make the bid accordingly. And it returns back to the old strategy once the market returns back to the old condition. It prioritizes the latest patterns and bids accordingly. Hence, it bids based on the new patterns rather than old patterns.
Smart bidding handles seasonal fluctuations every year because it faces seasonal events. During that time automated bidding adjusts to the new patterns in an efficient manner. So we do not need to worry about the dropping results of the automated bidding mechanism.
2. Higher conversions on lower CPC
It has been observed that although CPC has turned down but the conversion rates have increased. This can be beneficial for the brand as it reduces the cost on advertisement and is saved from all the additional spendings that does not bring any conversions. Automated bidding is used to enhance your CPC and help you set the right bid. So, if you are having some low CPC due to the pandemic, we suggest you not to worry because this will bring some good conversions and will save you some penny.
3. Do not pause campaigns, instead reduce budgets
Smart bidding is in a continuous learning process. It constantly requires data so that it can decide the probability of that data to get converted to a conversion. If you pause the campaign, the bidding mechanism will be hampered from getting all the current data and the patterns. If you continue the campaign after a few days, it will not function properly since it has no idea about the recent trends and patterns. It will need a long time for recovery. And you might well have to shift towards manual bidding.
If you want to prevent all the doors to manual bidding then reduce the budget of the campaign but do not pause the campaign. This will keep the mechanism in touch with patterns and will not remain inactive.
4. Negative keywords and placement exclusion
You can use maximum conversion strategy for your automation bidding strategy by taking the help of negative keywords and placement exclusion. What is a maximum conversion strategy?
It sets bids for your campaign to give you the most conversion within the set budget. You can use this strategy when you have a high budget and you want to automate your ads.
You can use negative keywords and placement exclusion so that you do not end up spending your budget at the wrong place. A combo of maximum conversions along with negative keywords and placement exclusions can be used during such uncertain times so that you can save yourself from spending your budget at the wrong place and eventually bring the right conversions to you.
We hope that these lessons will help you learn automated bidding and use them efficiently during the time of this pandemic. These insights will help you get a clear idea regarding automated bidding.