Effective bid optimization starts with clearly defined goals. In order to help, advertisers, Google's DoubleClick team introducing new set of features include: "ROAS support, weighted conversion support for Target Spend, and a Primary Constraint column" to the Performance Bidding Suite.
The Performance Bidding Suite, was relaunched back in August this year, bringing along improvements focused on UI navigation, bid strategy controls, and transparency to help make more informed keyword bidding decisions.
As with all bid strategies, you can set keyword-level bid limits and enjoy flexible keyword-to-goal assignments.
"The Primary constraint column, improve transparency with bid optimization suite of tools, and provide insights into constraints that might be limiting your keyword bids (for example, a bid was constrained by min or max bid limits). If the Performance Bidding Suite is unable to apply the ideal bid, the Primary constraint column explains the rationale, and also displays the percentage of affected spend," the DS team explains.
This Primary constraint data is shown at both bid strategy and keywords levels. "For even greater granularity at the keyword level, we also show the Target bid we would have set, if our algorithms weren't limited by the primary constraint," the team adds.
For more information on effective bid optimization, you can download this whitepaper.
Here is what's new:
- "Define your goal as a Target ROAS (Return on Ad Spend). "To target your return in revenue for every $1.00 of spend. To reach the ROAS target percentage, DS will raise or lower the bid based on how the actual ROAS compares to the target ROAS. Similar to ERS. you'll be able to define multiple ROAS target goals over a customizable set of Floodlight activities," the DS team explains.
- Select floodlight tags with Target Spend strategy. "You'll be able to enter your monthly budget, along with the KPI you'd like to maximize (for example: actions, transactions, or revenue), and set your goals for specific Floodlight activities," the team said.