First off, you will need to create some campaigns for your product on Google. I explain how to create a Google Ad campaign on some of my other posts! After you have created the campaigns you can begin the bidding! The bidding amount will depend on your budget and also your goals but there are some strategies you can use to launch your campaign in the most effective way. These strategies mainly involve analyzing data and making adjustments as needed. First I am going to explain the 2 types of bidding options.
Two Bidding Options:
Automated Bidding: This method allows Google to do most of the work for you, which can be very helpful. They will adjust your bid based on the other competitors. You can set a maximum budget with that method to assure Google will not surpass it.
Manual Bidding: This lets you create the bid amount for your campaign. This gives you the opportunity to reduce bidding on the low performing ads.
Choosing the Bidding method that is right for you completely depends on the goals you are trying to obtain. Obviously, the easiest option would be the automated bidding but the isn’t always the best depending on the business. Sometimes automated bidding can cause overspending and that’s not good. If you really want to get serious about bidding I would recommend using the manual option.
One thing to keep in mind when bidding is to determine the balance between conversion volume and cost per conversion. Now we’re going to move on to some of the strategies.
Change Bid Modifiers
This involves devices used to access your site, geographic location, and time. You can run a report that will explain to you the metrics of these factors. This data can help you to determine when to increase and decrease bids depending on performance.
When analyzing data, some keywords will have a larger sales rate than others. With this information, you should bid more aggressively on the particular keywords that are providing the larger amount of sales. This will help you to receive more popularity.
There are definitely many more strategies but to keep it short these are the most important ones to take advantage of. Once you achieve these strategies you can venture out into some more strategies. Overall, you don’t want to bid too high, you want to be able to bid a lower rate while still generating the most conversions as possible.