Whenever you start with PPC (Pay Per Click) Ads, you have to keep in mind the business goal or objective for running the Ad Campaign.
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Well, there are three types of Bidding strategies as follows:
1. Cost Per Click (CPC) Bidding
2. Cost Per Impressions (CPM) Bidding
3. Cost Per Acquisition (CPA) Bidding
1. Cost-Per-Click(CPC) Bidding:
There are two types of CPC Bidding
a.) Automatic CPC Bidding: I personally recommend Automatic Bidding because it is the simplest and most common. Set a daily budget & Ads
automatically manages bids to
bring the most clicks possible.
b.) Manual CPC Bidding: It is the default strategy to manage max. Set the different bid for each ad group
in campaign, or keywords,
placements.
2. Cost-Per-Impression (CPM)
Bidding:
CPM Bidding focuses on the visibility of ads to increase awareness
about brand/product. I would suggest making use of Facebook Advert instead of using CPM Bidding.
3. Cost-Per-Acquisition (CPA)
Bidding:
CPA Bidding is used when the campaign is direct-response
related. For ex, the campaign
focuses on sign-ups or sales.
Three factors required when using CPA Bidding:
a.) Enable conversion
tracking.
b.) Campaign received at
least 15 conversions in the
last 30 days.
c.) Google Ads system requires
this conversion history in
order to make accurate
predictions about future conversion rate.
Well, I would like to conclude with this, 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.
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