Bid Strategy (noun): The setting that tells an ad platform how to bid for you in its ad auctions.
What it is
Every search kicks off an auction. Your bid strategy decides how much you are willing to pay to show up, and what you want back for that money, like clicks or leads.
Manual vs. automated bidding
- Manual bidding: You set the maximum you will pay per click for each keyword or ad group.
- Automated bidding (Smart Bidding): Google sets a bid for every auction using signals like device, location and time of day to chase the goal you pick.
Common Google Ads bid strategies
- Manual CPC: Full control, more babysitting
- Maximize Clicks: Gets as many clicks as your budget allows
- Maximize Conversions: Gets as many leads as your budget allows, with an optional target cost per lead
- Maximize Conversion Value: Chases revenue instead of lead count, with an optional target return on ad spend
- Target Impression Share: Aims to show your ad in a certain spot a certain percentage of the time
How to choose
New accounts with little conversion data often start with Maximize Clicks or Manual CPC to build history. Once leads are coming in steadily and your tracking is solid, Maximize Conversions usually takes over.
One warning: Smart Bidding is only as smart as your conversion tracking. If your setup counts every page view as a lead, Google will happily go find you more page views.