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Machine learning can ‘learn’ quicker than we can, it’s able to identify patterns, automate tasks to save time and bring together sets of data. Google machine learning helps to discover user intent and conversion paths to eliminate wasteful spending, automate bids and choose the best relevant creatives.
Using Target CPA as a bidding strategy Google claim you can generate up to 20% more conversions for around the same cost per conversion. And with display campaigns, it can potentially increase conversions by up to 50% due to personalisation of ads and inventory.
Up to 20% increase in conversions within the same budget for Search campaigns.
This bidding strategy aims to drive as many conversions as possible within the campaign budget. There is no minimum number of conversions, so it’s great if you don’t already have a CPA or ROAS in mind.
Also, it works well within a ‘limited by budget’ campaign or campaigns with less than a 90% impression share as it allows room for growth.
Up to 20% increase in conversions at similar CPA for Search and Display campaigns.
This bidding strategy is ideal if you are looking to lower your existing CPA or keep it at a similar level. It works well for display campaigns, as well as search and has no minimum number of conversions.
Up to 35% increase in conversion value for Shopping campaigns.
This bidding strategy is aimed at getting you the highest conversion value possible, increase revenue based on ad spend. Set an achievable ROAS target based on what you are currently achieving and then amend at a later date.
There needs to be a minimum of 15 conversions passing through the account over a period of 30 days, ideally at campaign level. This can be done by grouping campaigns together with a portfolio bid strategy.
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