Google recently announced a new Smart Bidding strategy in AdWords, Maximize Conversions. According to Google, “the new bidding strategy will automatically set the right bid for each auction to help you get the most conversions within your daily budget.” Keep in mind, Maximize Conversions is only concerned with conversion volume. That said, this may not be the best bidding strategy for ecommerce clients (as it does not take into account metrics such as revenue or average order value), however those purely interested in lead generation should be all over this.
As announced on the Google Ads Developer Blog on May 9th, AdWords is changing Enhanced CPC (ECPC) to further assist you in increasing total conversions. Previously, ECPC automatically raised bids by up to 30% when the system thinks a click is more likely to lead to a conversion. Alternatively, if a click seems less likely to lead to a conversion, bids would be lowered. Google is now removing the 30% bid cap to account for the differences in conversion rates among the audience and location dimensions.
Targeting by household income (HHI) is a staple when working with programmatic & display companies. Wouldn’t it be great to be able to add in similar HHI targeting in Google AdWords? Oh wait, you can! Although a somewhat hidden option within the interface, it only takes a few additional steps to set up. By doing so, you can get some incredible insight into how wealthy the users interacting with your ads are. Taking it a step further, you can use that data to optimize your campaigns (both search and display).