Google has announced enhancements to their Smart Bidding algorithm, focused on more reporting insights and predictive features. The announcement comes on the heels of a blog post the day before encouraging advertisers to use Smart Bidding with Broad Match.
Smart Bidding consists of several automated bid strategies that allow Google to manage bidding in real-time, based on account data and account goals. These bidding types include:
- Target CPA
- Target ROAS
- Maximize Conversions
- Maximize Conversion Value
- Enhanced CPC
Smart Bidding options can be selected and applied at the Campaign level.
Predictive Data for Budgets, Target CPA and Target ROAS
Up until now, predictive data was based on the past 7 days of data which would show what would have happened in the past. Smart Bidding has now been upgraded with the ability to forecast up to 90 days out, accounting for upcoming influencers like seasonality.
Predictive data can be seen for campaigns using Smart Bidding by clicking on the little graph symbol that appears next to the budget setting:
Below is an example simulation that shows predicted differences for a future 7-day period based on different levels of Target CPA scaling.
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The columns show predicted clicks, costs, impressions, top impressions, conversions, and their value. Choosing different dates updates the predictions in those columns.
Enhanced Bid Strategy Reports
Advertisers can now also see recommendations to improve their Smart Bidding results…