Google announced improvements to its Smart Bidding algorithm that focus on providing more insight into reporting and forecasting capabilities. The announcement follows a blog post the day before advertisers were asked to use Smart Bidding with Broad Match.
Smart Bidding consists of several automated bid strategies that allow Google to manage bids in real time based on account details and account goals. These bid types include:
- Target CPA
- Target ROAS
- Maximize conversions
- Maximize conversion value
- Improved CPC
Smart bidding options can be selected and applied at the campaign level.
Forecast data for budgets, target CPA and target ROAS
Previously, forecast data was based on data from the past 7 days that would show what would have happened in the past. Smart Bidding has now been expanded to include the ability to create forecasts for up to 90 days, taking into account upcoming influencing factors such as seasonality.
Forecast data for campaigns with Smart Bidding can be viewed by clicking on the small graph icon next to the budget setting:
Below is a sample simulation showing predicted differences for a future 7 day period based on different levels of Target CPA scaling.
Read on below
Predicted clicks, costs, impressions, top impressions, conversions and their value are displayed in the columns. Selecting different dates will update the predictions in these columns.
Extended bid strategy reports
Advertisers can now also view recommendations to improve their smart bidding results for keywords and budgets. Google notes that these recommendations will be expanded to include other factors in the future.
Read on below
The Bid Strategy report now also shares its metrics in four other places in a Google Ads account:
- On the Campaign tab: Users can now view average CPA and ROAS goals on this search and purchase tab. (The app will be available soon.) This gives you a simple look at how Google Ads is optimizing its purchase based on factors like device bids, CPA and ROAS goals, and changes over time.
- Also on the Campaign tab: Search campaigns may give users better insight into their conversion lag and how it affects their bottom line. Hovering the mouse pointer over the "Conversions" column shows the number of days that remain to be reported for conversions, based on a defined time period. It also shows an estimate of the number of expected conversions, but only if a campaign has enough historical conversion data to calculate it.
- On the overview page: Search campaigns now show top signals to maximize conversion and target CPA bid strategies. This helps users determine what factors Smart Bidding is focusing on for performance.
- In the shared library: Advertisers can now edit portfolio bid strategy attributes directly in the shared library, such as: B. Names and Goals for CPA, ROAS and Impression Share.
Many advertisers would like to say hello to smart bidding, but aren't sure how optimization can be a kind of black box. When the results change, advertisers can feel helpless to fix bugs or scale because they're not sure what is triggering the change. The continued visibility into how Smart Bidding interprets data for its use is undoubtedly a welcome source of data for ad managers.
Read on below
You can find the full announcement from Google here.