What Is Google Ads Smart Bidding?
Google Ads Smart Bidding is an AI-driven tool that automatically adjusts bids in real-time to help you hit your campaign goals. Its strength lies in its ability to analyze patterns and trends far quicker than any human could. By optimizing your budget and freeing up your team for other high-value projects, Smart Bidding helps you focus on what matters most: growing revenue.
5 Tips to Drive Revenue With Google Ads Smart Bidding
1. Align Your Bidding Strategy With Revenue Goals
Google Ads Smart Bidding offers multiple options tailored to different campaign objectives. Choosing the right strategy depends on your specific goals and budget. Here are a few:
* Maximize Conversions: This Smart Bidding strategy sets bids to maximize the number of actions taken by users, such as sign-ups, purchases, or form submissions.
* Target CPA (Cost Per Acquisition): With the target cost per acquisition (CPA) strategy, you specify the amount you’re willing to spend to acquire a customer.
* Target ROAS: The target ROAS strategy allows you to set a specific ROAS goal, and Google Ads adjusts bids based on expected conversion values.
* Enhanced Conversions: You can use Enhanced Conversions to optimize for specific actions or events that hold significant value for your business.
2. Use Advanced AI Tools To Reach More Customers
Google offers new AI tools to take your Smart Bidding strategy to the next level, helping you expand your reach. You can pair these tools with your desired bidding strategy.
* Broad Match: Use this tool to capture a wider audience by covering related searches and synonyms.
* Performance Max: This AI-powered tool optimizes your campaigns across all Google networks (YouTube, Google Maps, etc.) and ad formats to maximize results.
3. Use Revenue Execution Platforms To Supercharge Smart Bidding
AI is only as good as the data it’s fed, and many marketers miss a crucial piece of the puzzle: phone call conversions. This can be a significant problem, as our research shows that 20-50% of conversions come in over the phone in many high-stakes purchase industries like healthcare, home services, automotive, and telecommunications.
A revenue execution platform like Invoca allows you to track these call conversions and feed them directly into Google Ads. This enables Google’s Smart Bidding AI to optimize more effectively, ensuring your ad dollars are spent on what truly drives revenue.
4. Optimize Retargeting With Rich Data Insights
Retargeting is an incredibly cost-effective way to drive more conversions, especially when you’re targeting people who have already interacted with your brand. To enhance your retargeting efforts, first-party data is key — and phone conversations are a treasure trove of insights that can be unlocked with revenue execution platforms like Invoca.
5. Detect & Solve Call Experience Issues
Many marketers lose potential revenue because they aren’t aware of call experience issues—missed calls, long hold times, or unoptimized call scripts that don’t convert leads. You could be flushing good leads down the drain without even knowing it.
By following these five tips and integrating a revenue execution platform, B2C marketers can fully take advantage of Google’s AI capabilities, driving conversions and revenue from every marketing dollar spent.
Conclusion
Google Ads Smart Bidding is a powerful tool that can help you drive more revenue from your ad campaigns. By aligning your bidding strategy with revenue goals, using advanced AI tools to reach more customers, using revenue execution platforms to supercharge Smart Bidding, optimizing retargeting with rich data insights, and detecting and solving call experience issues, you can maximize the effectiveness of your ad spend and drive more conversions.
FAQs
Q: What is Google Ads Smart Bidding?
A: Google Ads Smart Bidding is an AI-driven tool that automatically adjusts bids in real-time to help you hit your campaign goals.
Q: What are the benefits of using Google Ads Smart Bidding?
A: The benefits of using Google Ads Smart Bidding include optimized budget allocation, increased conversions, and improved ROI.
Q: How do I get started with Google Ads Smart Bidding?
A: To get started with Google Ads Smart Bidding, you need to set up your campaigns, choose your bidding strategy, and integrate a revenue execution platform like Invoca to track phone call conversions.
Q: What is a revenue execution platform?
A: A revenue execution platform like Invoca is a software solution that helps you track and analyze phone call conversions, allowing you to feed this data directly into Google Ads and optimize your Smart Bidding strategy more effectively.
