Enhanced CPC, a new automated bid strategy that helps you maximize your conversions while still having control over your bids is now live on Bing Ads.
'Enhanced CPC" "will help your campaign get more conversions, lower your cost per acquisition, and improve your return on investment in Bing Ads," the team said.
It's only available for Search and Content Campaigns. You can also manage bid strategies in our APIs.
As on today, now when you enable Enhanced CPC for your ads campaign, Bing Ads will "automatically adjust your bids in real time" so that you "bid up to 30% higher" on users that are more likely to "convert and bid up to 100% less" on users less likely to convert, bing explained.
How do I know if Enhanced CPC is working? When enabled, Enhanced CPC would lower your CPA and increase your conversion count.
Bing Ads expalin to evaluate, "run Enhanced CPC for at least one month. After one month, you can compare the campaign's monthly CPA and monthly conversion count with the CPA and conversion count you saw the month before turning on Enhanced CPC."
Also, Enhanced CPC will not break 3rd party bidding tools. The team notes, with Enhanced CPC, theu will "enhance" the bids set by your existing tools.
Further team notes, for ad groups and keywords, "the bid strategy can either be the same as the parent campaign or set explicitly to Manual CPC." "If an ad group is set to Manual CPC, all keywords in that ad group will be Manual CPC."
In additon, a new column called "Bid strategy type" is added, which shows the name of the bid strategy applied to the campaign, ad group, or keyword.
The column is available in the Campaigns, Ad Groups, and Keywords tabs.
Additionally, this column is also added to reports such as: keyword performance, website placement, and share of voice.
For enhanced bids, Bing said they will append the text (enhanced) to the bid column that will remind you that "Bing may bid higher or lower than your set bid to optimizing for more conversions."
On World Elephant Day, Bing Ads as part of their new comprehensive wildlife policy has announced of "stopping the sale of live animals and endangered and threatened animal products worldwide."