Video Transcript: What Bidding Strategy Works For New Campaigns?
So you jump into Google Ads and you want to create a brand new campaign. So when you do that, which bidding strategy should you be using when creating a campaign from scratch? Well, in this video I’m gonna break down exactly which types of bidding strategy you should be using when creating a brand new Google Ads campaign.
And it depends completely on your situation. First question you need to ask yourself is, Are you running your new campaign from a brand new account with no conversion data? And the reason for this question is clear, because if you’re running a new campaign in a new account with zero conversion data, then Google is starting from literally zero.
You can talk about how a campaign with no conversions that’s new, has no conversion data behind it. But if your account has conversion data that can help Google find customers for you because of those historic account conversions. But if this new campaign you are creating doesn’t have any data in the account, you are creating the campaign within, then it’s really important that you decide very carefully which bidding strategy to use.
When you think about it, Google can’t actually optimize towards your goals without any data. Behind that goal. If you’re trying to target a maximized conversions or maximize conversion value bidding strategy, and especially if you tie in a target CPA for your conversions or a target return on advertising spend for your maximized conversion value campaigns, then Google is gonna really struggle to find its feet in the early stages.
And what can happen when this happens is you can see your CPCs start going extremely high, then extremely low. Your campaigns. Bend is incredibly inconsistent because Google doesn’t actually understand what’s working and what’s not working. So in this instance, what should you be doing? Typically starting a brand new campaign with no data behind it.
You should be looking at potentially a maximized clicks strategy or a manual CPC strategy with enhanced CPC as a starting point. Because then you have control over the costings. You have control over the visibility of your. Specific keywords, you start getting campaign data in terms of how search terms perform against your website.
When you go into your analytics, you can see whether or not the user’s behavior matches up with what you’re expecting, and you can do that with a lot less risk and a lot cheaper because if you go in with a automated bidding strategy that’s targeted towards the goal, and Google has no data. Then Google is gonna spend your money more aggressively.
Your consistency of cost per click is gonna be much worse, and you won’t be able to determine whether or not you’re going to target the right audience. So my advice to you is to get the data you need more quickly and go with a strategy that’s less sophisticated. But when you start getting data, you can transfer your strategy over.
And also don’t forget that a maximized clicks strategy allows you to set a maximum CPC as well, so you can actually limit the cost you’re paying for your traffic. So all the while, while those clicks are going through your campaign and you’re looking at your search terms reports to make sure that the, the quality of the search is coming through, match up with what you’re expecting.
You’re looking at your analytics to make sure that the quality of the user journey is what you’re expecting. You’re doing it for a lot cheaper and you’re getting more volume. Through your campaign, and guess what? You will get conversions as well. They might not perform as well as a more sophisticated bidding strategy in the early stages, but you will potentially and quite often I see get conversions and that’s really important because those handful of conversions that you’re getting from the traffic you’re building up with a more manual or less sophisticated strategy gives Google conversion data and then, As the campaign starts spending, you can migrate to a more sophisticated strategy, so you can move to a strategy like maximize conversions or maximize conversion value because you’re getting the data that inform Google exactly who your customer is.
Remember, smart bidding is more about who the person is. As opposed to what they’re looking for. There are plenty of people performing searches every single day who have zero intent to buy that specific product or service right this second. What smart Bidding is trying to do is find out who is most likely right now to buy those products and services that you are promoting.
So that’s an important part to remember when it comes to deciding to migrate from a very unsophisticated strategy over to a smart bidding strategy, when Google gets that conversion data. They start to understand who that person is that they need to be targeting, not what they’re searching, as I say. Not what they’re searching, but who that person is, and that data is gonna help them with their smart bidding and help you get more customers through Google’s automatic strategies.
I think by now you understand that if you were to set up a brand new campaign in an account already getting plenty of conversions, it’s a lot less risky to start out with a smart bidding strategy targeted around your business goals, like maximize conversion value or maximize conversions. Because the account has historic conversion data, Google has an understanding of who is converting and who that person is at the time of auction, and they can adjust bids more effectively.
The campaign will exit the learning phase much more quickly and be able to optimize over time a lot shorter period than if you didn’t have. Any conversion data. I hope this video was helpful in determining how you can set up a brand new campaign. If you liked this video, please like it below. Let me know in the comments if this is a strategy that you use when setting up a brand new campaign.
If not, if you disagree with me, let me know. I want to talk to you in the comments. I replied to pretty much every comments on all of my new videos. Like this video. If you like it, don’t forget to subscribe. Check out the other content on the channel and I’ll see you guys on the next one.