In the modern time, Pay-per-click (PPC) is a very big market, and, as per estimates, more than one hundred billion dollars is spent worldwide on multiple ad platforms. The biggest among them is the Google Ads that has about three-fourth of the global market share. Microsoft (also called Bing) and Facebook are also very big players. Please note that all these players have a whole variety of bidding strategies in order to help you get the best out of your marketing efforts. Let us learn more about the bidding strategy options.
In simple words, the bidding strategy is to show how your money is used for displaying your PPC ads. There are different aspects to consider while deciding the bidding strategy. The platform, the actual ad, your budget and the marketing goal must be decided while choosing the PPC bidding strategy. You can select either automated bidding options or standard manual on most of the ad platforms. Let us learn more about PPC bidding strategies:
- CPC
- CPM
- Target CPA
- Target ROAS
- Maximize the conversions
- Target impression share
Please note that all these ad platforms do not offer all these options. For example, if you have opted for Google Ads, bid strategies will offer the whole range. The bidding strategies in Linkedin and Instagram are simpler because generally the focus is on CPM or CPC options.
CPC (cost per click)
In this, you will pay for all the individual clicks on your ads. This is the original and the most popular type of bidding strategy. In fact, there are choices when you have to select the pay per click. You can opt for the manual CPC, automated CPC or enhanced CPC that is referred to as eCPC.
CPM (cost per mile)
It can be said as the cost per thousand impressions. It is important to note that a mile is Latin for a thousand. However, generally, it is referred to as cost per mile. This option is suitable for display ad campaigns that include videos, banners or other types of the promoted content. It is very useful for awareness-based campaigns.
Target CPA (cost per acquisition)
This is an automated bidding option that is used by Microsoft, Facebook and Google Ads. If you use target CPA, the ad platform will assist you to get new customers or leads at the specified target price. You will pay only if the action gets completed, such as there has been a download for the sales enquiry. It is designed to drive engagement. Hence, it is suitable for the bottom-of-funnel (BOFU) marketing.
Target ROAS (return on ad spend)
If you have been running online ad campaigns for quite some time, you can utilize this PPC bidding strategy with your most successful keywords. This bid strategy for Microsoft and Google Ads utilizes data from your past campaigns in order to predict your return on investment. The target ROAS is very cost–effective in the long run.
Maximize the conversions
This is an automated bidding strategy that aims to get the most bang for your buck. Just set your budget and the Google Ads, Microsoft will try to get you as many conversions or clicks as possible for that price. It is based on historical data. So, you must have a PPC campaign that has been continuously running for at least a few weeks.
Target impression share
This is relatively a newer automated bidding strategy for Google Ads. The advertisers can easily set up their target percentage as well as their budget. Afterwards, the advertisers can select how they want their impression to be seen.
Choose the right bidding strategy to make maximum benefits
Risks and benefits are associated with all the bidding strategies. Generally, businesses choose the strategy that depends on their ad strategy in general. You can use many PPC bid strategies on a variety of PPC bid strategies on a variety of ad campaigns. There are many factors on which the success of your PPC ads depend such as the:
- Keyword research that has been conducted
- The platform that you are using
- Your budget as well as the bidding amount
- The quality of your Ad
- Demographic targeting
- Your industry and the situation of the market
Each web advertising platform has its own system that includes managing the bidding strategies. The Facebook bidding strategies are not complex and the platforms such as Twitter and Linkedin offer more simple selections such as the CPM and the CPC.
Choose the right bidding strategy to ensure your goals are met
Whatever web advising platform you use, please keep an eye on your KPIs to ensure that your bid strategy is working in the perfect manner. Check your analytics on a daily basis, especially for the large-scale campaigns. The pay-per-click is a massive industry, and it also offers a massive goal reach. Still, you must remember that all the platforms are vulnerable to fraud. Many invalid clicks come from genuine accidents such as site visitors clicking on the wrong click. There is also a possibility that invalid clicks could occur as a result of the automated bots. Some organized criminals can also be behind the occurrence of invalid clicks. As per some estimates, click fraud is almost equivalent to $20 billion, and in the coming era, it is likely to increase. Please protect your pay-per-click ad campaigns from all types of fraudulent practices, irrespective of the platform you use. Consult with experts and learn more about PPC bidding strategy.
