Are you getting the most out of your bids and clicks? If not, you need to look into enhanced CPC to improve your ROI.
Rather than bidding blindly for specific clicks and keywords, the use of this optimized tool can keep your average cost per click (CPC) below the max that you set and target only those bids that could bring you the most conversions.
What Is Enhanced CPC and How Does it Work?
Specifically, enhanced CPC is a bid strategy to adjust your cost per click to maximize your conversions and the value of those conversions. When you want more high-quality leads, this is the strategy you want to employ. This is done by combining manual bidding with a Smart Bidding strategy to bring you more leads that turn into sales.
A couple of the Smart Bidding strategies used are Target CPA and Target ROAS which reviews the advertising to determine if you’re more likely to have conversions from the clicks or not.
What Happens when you Set ECPC to Optimize for Conversions?
A few things will happen when you set your strategy for conversions:
• Your bid is adjusted based on how likely a click is to lead to a conversion
• You’ll have more conversions and keep your costs per conversion lower
• The process works differently for various campaigns, which requires you to know what’s going on
What Happens When you Set ECPC for Conversion Value?
• Your bid is adjusted based on the likelihood of the click to be a conversion and bring strong conversion value
• Assists you in receiving more high-value conversions while keeping your cost per conversion lower
• This strategy is only available for search campaigns, not for shopping campaigns
How Do You Know if a Bid Will Have Value?
Google has been relatively vague regarding the algorithm used to determine costs per click, conversions, and conversion value. Because some of this process is still manual, you need to pay attention to specific items to determine whether or not you should pay for the bid and add to your marketing.
Using an Enhanced CPC strategy, several signals will make a huge difference in your success. Some of these are:
• Hour of Day
• Day of the Week
• Web Behavior
Out of these six signals, you have control over five of them, which makes it easy for you to create the strategy you want to bid and be part of the mix when specific ads are being clicked on. Thankfully, the tools mentioned are available to help you determine if you should pay for a bid or wait to bid later in the day.
Why Should You Use Enhanced CPC?
If you’re going to have to perform some manual work to receive the conversions and win the bids that you desire, why should you use the enhanced form of this process? The simple answer is that you’re going to get the best of both worlds with this version. Rather than simply creating your own strategy to try and determine the right way to bid on advertising, you can have the benefits of Google Ads Smart Bidding to assist you.
Using Google Ads to optimize your bidding will make things much easier for you. If you don’t log into your Google Ads account often, once you optimize this account, you will pay for the bids that are picked to give you the most success. You should still log in and analyze the performance at least weekly, this tool is only as good as your input, but it can almost run entirely without your manual inputs.
Conversion Tracking is Set for You
When you utilize Enhanced CPC, you’ll have the conversion data readily available to make the bid adjustments needed for you. If your current conversion tracking isn’t being done properly or your historical data is incorrect, you may not want to employ this strategy until you fix these issues. The tracking system will use the inputs you give it to create the reporting you need and show you how well the system is working for you.
A Much Easier Process
Rather than manual bidding without the benefits of the best information, employ Enhanced CPC in your strategy. This process helps you find the most high-quality conversions, greatest conversion value and keeps your costs down. Your marketing should be profitable and with the use of this strategy and a little bit of maintenance from you, it can be.
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