Google Ads announced Tuesday that search partner sites may use Smart Bidding instead of Smart Pricing when an advertiser has conversion tracking in place.
Google says Smart Bidding may offer better performance because it uses “a wider range of contextual signals to optimize bids for each auction.”
Smart pricing has historically been used to power manual bids for search partners, takes into account a range of factors such as the keyword lists or concepts that triggered the ad and the type of webpage on which the ad was served.
With Smart Bidding, as Google Ads explains, a subset of bids utilizing machine learning (ML) are automatically optimized for “conversions or conversion value in each and every auction—a feature known as “auction-time bidding”.”
Smart Bidding strategies, include Target CPA, Target ROAS, Maximize Conversions, and Enhanced CPC (ECPC).
Some of Smart Bidding signals include device and location as well as signals and signals. You can see a full list of several important signals here.
Google recommends that advertisers in the past 30 days must have at least “30 conversions for Target CPA,” and “50 conversions for Target ROAS.”
This will help in maximizing results as well as give ML algorithms enough data to make informed bidding decisions.
“For example, if you have a $50 cost per conversion on Google Search but lower conversion rates on partner sites, then Smart Bidding may set lower bids to help achieve a $50 cost per conversion. Alternatively, if you get a better conversion rate from a search partner site, Smart Bidding may raise your bid to help you get more traffic and conversions from that site at the $50 cost per conversion you receive on Google Search.”
Smart Bidding provides deeper insight into bidding performance through reports that include:
- Detailed bid strategy statuses show what’s going on under the hood of a bidding.
- Campaign drafts and experiments for Search and Display campaigns to test how Smart Bidding performs against the current bidding method.
- Bid simulators forecast the number of conversions that ads might have received for different CPA targets.
- Alerts and notification flag issues with conversion tracking and give clear steps for fixing them.
- Rich performance reports help in tracking performance changes back to updates to bid strategy status or targets. Access these from the “Bid strategy” dropdown in the main Campaigns view or the Shared library.
This change successfully works for sites [“large or small”] in the search network that partners with Google to show ads on search result pages.
In other Google Ads news, Google will soon ending a band that it imposed from showing cryptocurrency ads on its network.
The change which is part of the Google Ads’ policy on Financial products and services update will come into effect starting in October 2018.
With this policy into effect, regulated cryptocurrency exchanges in the United States and Japan will be allowed to advertise again on the Google network.
Once in affect, advertisers will require to be certified by Google for the specific country in which their ads will serve.
Google says, the new policy will apply to all accounts globally that advertise these financial products.