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3 Smart Bidding Strategies To Help You Get the Most Out of Your Google Ads

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3 Smart Bidding Strategies To Help You Get the Most Out of Your Google Ads

Now that we’ve officially settled into the new year, it’s important to reiterate that among the most effective ways to promote your business are Google Ads. Not only do Google Ads increase your brand visibility, but they also make it easier for you to sell your services and products while generating more traffic to your website.

The thing about Google Ads, though, is that setting up (and running) a Google Ads campaign isn’t easy – in fact, it’s pretty beginner-unfriendly and time-consuming. And yet, statistically speaking, no platform does what Google Ads can do when it comes to audience engagement and outreach. Therefore, it will be beneficial to learn about and adopt some smart bidding strategies that can help you get the most out of your Google Ads.

To that end, let’s check out a few different bidding strategies you can put behind your Google Ads campaigns, how these strategies can maximize the results of your Google Ads, and the biggest benefits of each strategy.

Smart bidding in Google Ads: what does it mean, anyway?

Before we cover the bidding strategies that can get the most out of your Google Ads, let’s define what smart bidding means. Basically, it lets Google Ads optimize your bids for you. That doesn’t mean that Google replaces you when you leverage smart bidding, but it does let you free up time otherwise spent on keeping track of the when, how, and how much when bidding on keywords.

The bidding market is simply too big – and changing too rapidly – for any one person to keep constant tabs on it. There are more than 5.5 billion searches that Google handles every day, and most of those searches are subject to behind-the-scenes auctions that determine which ads display based on certain searches, all in a particular order.

That’s where smart bidding strategies come in: they’re a type of automated bidding strategy to generate more conversions and bring in more money, increasing your profits and cash flow. Smart bidding is your way of letting Google Ads know what your goals are (a greater number of conversions, a goal cost per conversion, more revenue, or a better ROAS), after which Google checks what it’s got on file for your current conversion data and then applies that data to the signals it gets from its auctions.

Types of smart bidding strategies

Now that you know what smart bidding in Google Ads is and why it’s important, let’s cover the best smart bidding strategies you can use to your advantage.

Maximize your conversions

The goal of this strategy is pretty straightforward: maximize your conversions and get the most out of your budget’s allocation toward said conversions. Your conversions, be they a form submission, a customer transaction, or a simple phone call, are something valuable that you want to track and, of course, maximize.

The bottom line here is simply generating the greatest possible number of conversions for your budget. This strategy can potentially become costly, so remember to keep an eye on your cost-per-click and how well your spending is staying inside your budget.

If you want to be extra vigilant about keeping conversion costs in a comfy range, you can define a CPA goal for your maximize conversions strategy (assuming you’ve got this feature available).

Target cost per acquisition

The purpose behind this strategy is to meet or surpass your cost-per-acquisition objective that’s tied to your daily budget. When it comes to this strategy, it’s important to determine what your cost-per-acquisition goal is for the strategy you’re pursuing.

In most cases, your target cost per acquisition goal will be similar to the 30-day average you’ve set for your Google Ads campaign. Even if this isn’t going to be your end-all-be-all CPA goal, you’ll want to use this as a starting point.

You’ll have lots of success by simply leveraging target cost per acquisition on a campaign-by-campaign basis, but you can take this one step further by creating a single tCPA bid strategy that you share between every single one of your campaigns. This makes the most sense when running campaigns with identical CPA objectives. That’s because you’ll be engaging with a bidding strategy that’s fortified with a lot of aggregate data from which Google’s algorithm can draw, subsequently endowing all of your campaigns with some much-needed experience.

Maximize clicks

As its name implies, this strategy centers around ad optimization to gain as many clicks as possible based on your budget. We recommend using the maximize clicks strategy if you’re trying to drive more traffic to your website. The best part? Getting this strategy off the ground is about as easy as it gets.

All you need to do to get started with maximizing clicks is settle on a maximum cost-per-click that you then earmark. Once that’s done, you can decide how much money you want to shell out every time you pay for a bid. You don’t actually even need to specify an amount per bid since Google will modify your bids for you to maximize your clicks automatically.

Picture this: you’ve got a website you’re running and want to drive more traffic to it. You decide to set your maximum bid per click at $2.5. Google looks at your ad, adjusts it to $3, and automatically starts driving more clicks per ad (and more traffic to your site), all without ever going over the budget you set for your Google Ads campaign.

Conclusion

If you’ve been using manual bidding until now, you probably can’t help but admit that you spend way too much time wrangling with it. There are plenty of other things you’d rather be – and should be – spending your time on. Plus, bids change so quickly that trying to keep up with them manually isn’t even worth it anymore.

Thankfully, you’ve now got a better grasp on automated and smart bidding after having read through this article, and you’re aware of some important options you have when it comes to strategies for automated bidding. Now’s a good time to explore even more Google Ads bidding strategies and see which ones make the most sense when it comes to your unique and long-term business objectives. Settle on a strategy and then give it a whirl – you’ll only know whether a strategy is right for you after you’ve tested it time and time again. Good luck!

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The Future of Content Success Is Social

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The Future of Content Success Is Social

Here’s a challenge: search “SEO RFP” on Google. Click on the results, and tell me how similar they are.

We did the same thing every other SEO does: We asked, “What words are thematically relevant?” Which themes have my competitors missed?” How can I put them in?” AND “How can I do everything just slightly better than they can?”

Then they do the same, and it becomes a cycle of beating mediocre content with slightly less mediocre content.

When I looked at our high-ranking content, I felt uncomfortable. Yes, it ranked, but it wasn’t overly helpful compared to everything else that ranked.

Ranking isn’t the job to be done; it is just a proxy.

Why would a high-ranking keyword make me feel uncomfortable? Isn’t that the whole freaking job to be done? Not for me. The job to be done is to help educate people, and ranking is a byproduct of doing that well.

I looked at our own content, and I put myself in the seat of a searcher, not an SEO; I looked at the top four rankings and decided that our content felt easy, almost ChatGPT-ish. It was predictable, it was repeatable, and it lacked hot takes and spicy punches.

So, I removed 80% of the content and replaced it with the 38 questions I would ask if I was hiring an SEO. I’m a 25-year SME, and I know what I would be looking for in these turbulent times. I wanted to write the questions that didn’t exist on anything ranking in the top ten. This was a risk, why? Because, semantically, I was going against what Google was likely expecting to see on this topic. This is when Mike King told me about information gain. Google will give you a boost in ranking signals if you bring it new info. Maybe breaking out of the sea of sameness + some social signals could be a key factor in improving rankings on top of doing the traditional SEO work.

What’s worth more?

Ten visits to my SEO RFP post from people to my content via a private procurement WhatsApp group or LinkedIn group?

One hundred people to the same content from search?

I had to make a call, and I was willing to lose rankings (that were getting low traffic but highly valued traffic) to write something that when people read it, they thought enough about it to share it in emails, groups, etc.

SME as the unlock to standout content?

I literally just asked myself, “Wil, what would you ask yourself if you were hiring an SEO company? Then I riffed for 6—8 hours and had tons of chats with ChatGPT. I was asking ChatGPT to get me thinking differently. Things like, “what would create the most value?” I never constrained myself to “what is the search volume,” I started with the riffs.

If I was going to lose my rankings, I had to socially promote it so people knew it existed. That was an unlock, too, if you go this route. It’s work, you are now going to rely on spikes from social, so having a reason to update it and put it back in social is very important.

Most of my “followers” aren’t looking for SEO services as they are digital marketers themselves. So I didn’t expect this post to take off HUGLEY, but given the content, I was shocked at how well it did and how much engagement it got from real actual people.

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7 Things Creators Should Know About Marketing Their Book

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7 Things Creators Should Know About Marketing Their Book

Writing a book is a gargantuan task, and reaching the finish line is a feat equal to summiting a mountain.

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Being position-less secures a marketer’s position for a lifetime

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Optimove Positionless Marketer Optimove

On March 20, 2024, the Position-less Marketer was introduced on MarTech.org and my keynote address at Optimove’s user conference.

Since that initial announcement, we have introduced the term “Position-less Marketer” to hundreds of leading marketing executives and learned that readers and the audience interpreted it in several ways. This article will document a few of those interpretations and clarify what “position-less” means regarding marketing prowess.

As a reminder, data analytics and AI, integrated marketing platforms, automation and more make the Position-less Marketer possible. Plus, new generative AI tools like ChatGPT, Canna-GPT, Github, Copilot and DALL-E offer human access to powerful new capabilities that generate computer code, images, songs and videos, respectively, with human guidance.

Position-less Marketer does not mean a marketer without a role; quite the opposite

Speaking with a senior-level marketer at a global retailer, their first interpretation may be a marketer without a role/position. This was a first-glance definition from more than 60% of the marketers who first heard the term. But on hearing the story and relating it to “be position-less” in other professions, including music and sports, most understood it as a multidimensional marketer — or, as we noted, realizing your multipotentiality. 

One executive said, phrasing position-less in a way that clarified it for me was “unlocking your multidimensionality.” She said, “I like this phrase immensely.” In reality, the word we used was “multipotentiality,” and the fact that she landed on multidimensionality is correct. As we noted, you can do more than one thing.

The other 40% of marketing executives did think of the “Position-less Marketer” as a marketing professional who is not confined or defined by traditional marketing roles or boundaries. In that sense, they are not focused only on branding or digital marketing; instead, they are versatile and agile enough to adjust to the new conditions created by the tools that new technology has to offer. As a result, the Position-less Marketer should be comfortable working across channels, platforms and strategies, integrating different approaches to achieve marketing goals effectively.

Navigating the spectrum: Balancing specialization and Position-less Marketing

Some of the most in-depth feedback came from data analytic experts from consulting firms and Chief Marketing Officers who took a more holistic view.

Most discussions of the “Position-less Marketer” concept began with a nuanced perspective on the dichotomy between entrepreneurial companies and large enterprises.

They noted that entrepreneurial companies are agile and innovative, but lack scalability and efficiency. Conversely, large enterprises excel at execution but struggle with innovation due to rigid processes.

Drawing parallels, many related this to marketing functionality, with specialists excelling in their domain, but needing a more holistic perspective and Position-less Marketers having a broader understanding but needing deep expertise.

Some argued that neither extreme is ideal and emphasized the importance of balancing specialization and generalization based on the company’s growth stage and competitive landscape.

They highlight the need for leaders to protect processes while fostering innovation, citing Steve Jobs’ approach of creating separate teams to drive innovation within Apple. They stress the significance of breaking down silos and encouraging collaboration across functions, even if it means challenging existing paradigms.

Ultimately, these experts recommended adopting a Position-less Marketing approach as a competitive advantage in today’s landscape, where tight specialization is common. They suggest that by connecting dots across different functions, companies can offer unique value to customers. However, they caution against viewing generalization as an absolute solution, emphasizing the importance of context and competitive positioning.

These marketing leaders advocate for a balanced marketing approach that leverages specialization and generalization to drive innovation and competitive advantage while acknowledging the need to adapt strategies based on industry dynamics and competitive positioning.

Be position-less, but not too position-less — realize your multipotentiality

This supports what was noted in the March 20th article: to be position-less, but not too position-less. When we realize our multipotentiality and multidimensionality, we excel as humans. AI becomes an augmentation.

But just because you can individually execute on all cylinders in marketing and perform data analytics, writing, graphics and more from your desktop does not mean you should.

Learn when being position-less is best for the organization and when it isn’t. Just because you can write copy with ChatGPT does not mean you will write with the same skill and finesse as a professional copywriter. So be position-less, but not too position-less.

Position-less vs. being pigeonholed

At the same time, if you are a manager, do not pigeonhole people. Let them spread their wings using today’s latest AI tools for human augmentation.

For managers, finding the right balance between guiding marketing pros to be position-less and, at other times, holding their position as specialists and bringing in specialists from different marketing disciplines will take a lot of work. We are at the beginning of this new era. However, working toward the right balance is a step forward in a new world where humans and AI work hand-in-hand to optimize marketing teams.

We are at a pivot point for the marketing profession. Those who can be position-less and managers who can optimize teams with flawless position-less execution will secure their position for a lifetime.

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