What should be your Bidding Strategy for lead generation?
For a business, it is very important to generate leads and nurture them in an orderly fashion. There are multiple ways to nurture a lead. But to do that you first need to acquire the lead. So how do you generate more leads for your database? To get more leads, search engine marketing is the best way to bring the visitor on the site and ask them to fill in the form so that their contact details enters your database.
Each campaign you run on Google AdWords for search engine marketing, your marketing team will be required to create multiple campaigns and multiple ad sets where you might have 1000+ keywords. Now the big question is how do you make sure that your bidding strategy for each keyword works.
So now you must be wondering which bidding strategy to be used while running campaigns? Well, we all have been there. Depending on which networks your campaign is targeting, and whether you want to focus on getting clicks, impressions, or conversions, you can determine which strategy is best for you.
Each bid strategy is suited for different kinds of campaigns and advertising goals. For the purposes of bidding, you’ll need to consider three basic types of goals.
If you are looking for more traffic on your site, cost per click might be the best strategy.
If you want to increase brand awareness—not drive traffic to your site—focusing on impressions may be your strategy.
If you want customers to take a direct action on your site, and you’re using conversion tracking, then it may be best to focus on conversions. Cost-per-acquisition (CPA) will work nicely for your campaigns.
Well now on each campaign you may have multiple ad sets and each ad set will multiple keywords in it. How do you manage all without losing the users? Well, Google AdWords dynamic auction let you do that.
How does it work?
Dynamic or real-time bidding takes many factors into consideration when adjusting bids. Not only that, those bidding decisions are made uniquely for each auction that you enter from Google. It’s highly specific bids, made efficiently and at scale.
Keyword-wise bidding is one of the most used ways to optimize your bid, but even with that, you can’t set precise bids for the many different queries that can match to a single keyword. To get those users on your site. This especially helps advertisers to get those users where partial of their search queries matches with your keywords.
Beyond that, keyword-wise bidding for your exact match keywords can’t account for the wide array of user contexts connected with a search. Only auction-time bidding has the level of precision required to set a bid matched to a user’s actual search query and context.
How does Google’s automated bid adjustment work?
Automated bids adjust your bid at the moment of the auction for each impression based on all the factors in play. So instead of a few basic adjustments, google gives more power to advertisers by giving more control on their campaigns.
All things can be factored in at the moment of an impression so you get a bid that makes sense for you and your business goals. With Google’s automatic bidding, every time you enter the action this process runs.
So it is always better to use the automatic bidding tactics when you are running search engine marketing campaigns for lead generation or any objective you have.