Setting up Google Ads campaigns can be frustrating due to the big amount of options and settings available to the advertisers. Not surprisingly, many companies are always looking for a shortcut when it comes to creating a new campaign. So, when they hear “Automated bid strategy”, it sounds good, but then when they discover “Maximise conversions”, it sounds just amazing.
Google describes the strategy as being able to get you a maximum number of conversions within your budget. So, it may seem like the best option out there – it´s fully automated and brings conversions. Perfect? We would not say so.
The question is, whether this type of strategy is right for you and whether it will bring the expected result. Let´s try to figure it out, shall we?
Before activating the strategy it’s important to know a few things:
- The strategy is based on machine learning, so Google will take some time to analyse the history of your account and the new incoming traffic to understand which types of clicks are more likely to end up with conversions. That´s why the amount of data it can analyse can be a game changer. First of all, make sure you have the conversion tracking set up, otherwise it will make no sense to choose this strategy. Although there is no minimum amount of conversions that you need to be able to activate "Maximise conversions", it is recommended that your account has at least 30 conversions within the last 30 days. This is the very minimum amount of data the machine needs to get to some meaningful conclusions.
- Make sure, your campaign has its own budget that is not shared with other campaigns. As campaigns using “Maximise conversions” tend to use the entire daily budget available, they might “eat away” all the money for the day and leave other campaigns with no budget, if they share one.
- With “Maximise conversions” Google will spend your daily budget to the end, maximising the total amount spent per day. This may make your conversions quite expensive. So, if you want to control the cost per conversion, it´s better to opt for other strategies like “Target CPA” or “ROAS”.
- Be realistic when deciding on the daily budget. Obviously the thought that Google will most likely spend 100% of the daily budget every day can be a little scary, but this doesn´t mean that you can get away with extremely low budgets. Analyse your account history – you have it, right? If not, go back to the first point. If historically your conversions on average cost you 50 Euros, it might be a tiny stretch to set up a budget of € 5 per day and expect the conversions to flow in abundance. Be rational and always make decisions based on your data.
After analysing all the points mentioned above, you will be more than ready to make a decision, whether the “Maximise conversions” strategy is the right fit for you.
Have you given it a try yet? What´s your take on it? We’d love to hear all about your experience!
For more information, bespoke strategies and efficient digital marketing solutions, just contact the Clarity’s girls through info@yourdigitalclarity.com or visit our website at www.yourdigitalclarity.com.
