Google Ads are reported to reach over 90% of internet user across the world, so if your ideal audience is online, they can undoubtedly be reached via Google Ads – if you know how to effectively set up and manage your Google Ads campaigns. 

Businesses that make a point to master advanced strategies for Google Ads recognize that smart bidding strategies play a pivotal role in optimizing their advertising spend and driving better results to ultimately maximize return on investment (ROI). 

Here’s what your business ought to know to improve your Google Ads bidding strategies:

1. Target ROAS (Return on Ad Spend)

Understanding Target ROAS

Target ROAS is an advanced bidding strategy that can enable your brand to optimize your Google Ads campaigns based on the desired return on ad spend. Essentially, it allows you as the advertiser to set a specific target for the ratio of revenue generated from ads to the ad spend. For example, if you aim for a 500% ROAS, you want to generate $5 in revenue for every $1 spent on ads.

Leveraging Target ROAS for Maximum ROI

• Data-Driven Insights: To effectively implement Target ROAS, you need a deep understanding of your campaign’s historical data. Start by analyzing past performance to identify trends and establish a baseline ROAS.
• Segmentation: Divide your campaigns into relevant segments, such as product categories, geographic locations, or audience types. By setting different ROAS targets for each segment, you can allocate your budget more efficiently.
• Adjust Bids Automatically: Utilize Google Ads’ automated bidding options, such as Target ROAS, to automatically adjust your bids in real-time. This ensures that your bids are optimized to achieve your desired ROI without constant manual intervention.
• Monitor and Refine: Regularly monitor your campaign’s performance and adjust your ROAS targets as needed. Be prepared to adapt to market changes and seasonal variations to maintain a competitive edge.

2. Smart Bidding

Understanding Smart Bidding

Smart Bidding is a suite of automated bidding strategies powered by machine learning and artificial intelligence. Google’s algorithms use historical data and real-time signals to optimize bids for conversions, clicks, or other specific goals. Smart Bidding includes strategies like Target CPA (Cost-Per-Acquisition), Target ROAS, Maximize Conversions, and more.

Leveraging Smart Bidding for Maximum ROI

• Conversion Tracking: Accurate conversion tracking is crucial for Smart Bidding. Ensure that you have set up conversion tracking properly to provide the algorithm with the necessary data.
• Testing and Learning: Smart Bidding strategies require some time to adapt and learn from your campaign data. Be patient and allow the algorithms to optimize your bids based on performance trends.
• Combine with Other Signals: Smart Bidding can consider a range of signals beyond just historical data. Incorporate additional factors like device type, location, and audience segments to refine your bidding strategy further.
• Set Realistic Targets: While Smart Bidding can be highly effective, it’s essential to set realistic performance targets. Unrealistic goals may limit the algorithm’s ability to optimize effectively.

3. Enhanced CPC (Cost-Per-Click)

Understanding Enhanced CPC

Enhanced CPC is a bidding strategy that combines manual bidding with automated adjustments. With Enhanced CPC, Google Ads automatically adjusts your manual bids in real-time based on the likelihood of a click resulting in a conversion. This strategy is designed to maximize conversions while still allowing advertisers to maintain some control over bidding.

Leveraging Enhanced CPC for Maximum ROI

• Start with Manual Bidding: Begin with manual bidding to establish a baseline for your campaign’s performance. This provides valuable insights into which keywords or placements are most effective.
• Enable Enhanced CPC: Once you have sufficient data, enable Enhanced CPC to allow Google Ads to adjust your bids based on conversion probability. This can help you capture more high-converting clicks.
• Monitor Performance: Continuously monitor the impact of Enhanced CPC on your campaigns. Be prepared to make manual bid adjustments when necessary to fine-tune your bidding strategy.
• Combine with Conversion Optimization: Enhanced CPC works well when combined with conversion optimization techniques like improving ad copy, landing page design, and user experience. These factors can enhance the quality of clicks and conversions.

4. Maximizing ROI through Bid Adjustments

In addition to advanced bidding strategies, experienced businesses can optimize ROI by leveraging bid adjustments. Google Ads offers bid adjustments for various factors, including:

• Location: Adjust bids based on the geographic location of your target audience. Increase bids for regions with higher conversion rates and decrease bids for less profitable areas.
• Device: Customize bids for different device types (desktop, mobile, tablet) based on performance data. This ensures that you allocate budget effectively to the devices that drive the most conversions.
• Time of Day: Set bid adjustments for specific times of the day or days of the week when your ads perform best. This prevents overspending during less productive hours.
• Audience: Adjust bids based on audience segments, such as demographics, interests, or remarketing lists

Is your business not getting the ROI you should from Google Ads? While this marketing channel has so much potential today, sometimes you need more than just a handful of tips (however well-proven) to get the best results. Sometimes you need a comprehensive strategy that’s customized to your unique brand…

 JXT Group can make this happen for you. 

We’re a Google Premier Partner, meaning we have a proven track record of expertise as well as results increasing the advertising ROI for a variety of brands. If you’d like to find out more, call us today at 718-690-7302 or get in touch via our website inquiry form.