AdWords blog has introduced a new bidding option called preferred cost bidding -- a feature designed to help you save time while achieving your advertising cost goals more consistently. Instead of setting a maximum cost-per-click (CPC) or cost-per-impression (CPM) bid, you can set a preferred CPC or CPM bid that represents the average price you want to pay.
For example, suppose you want to pay an average CPC of $0.50. Currently, you need to regularly monitor and adjust your maximum CPC bids to keep your costs at or around $0.50 per click. Using preferred cost bidding, you can simply tell us that you want your average CPC to be $0.50, and we'll manage your bids to reach that goal.
This feature will be released to all advertisers over the next few days. You'll find it on the Edit Campaign Settings page. For more information on preferred cost bidding, please refer to the FAQs.
Source:→ AdWords BlogGoogle, AdWords, Bidding Option, Preferred Cost Bidding, Introduce, New Feature