A chain of regional bookstores is looking to drive more value from their Google Ads campaigns by creating a value-based bidding strategy for the first time. Which best practice should they follow first in order to get started?
- Begin with a strong measurement and attribution strategy based on their goals.
- Enable a volume-based Smart Bidding strategy in all campaigns.
- Create a value-based Smart Bidding strategy in their top two campaigns.
- Build a large list of negative keywords to tailor traffic and eliminate uninterested consumers.
Explanation:
The correct answer option is “Begin with a strong measurement and attribution strategy based on their goals.” Before implementing any bidding strategy, it’s crucial for the chain of regional bookstores to establish a robust measurement and attribution strategy aligned with their objectives. This step lays the foundation for effective value-based bidding by providing clear insights into the performance metrics that matter most to the business, such as return on ad spend (ROAS) or lifetime value (LTV) of customers. By understanding their goals and how different metrics contribute to their success, the bookstores can tailor their bidding strategy to prioritize value-driven outcomes. Additionally, a comprehensive measurement and attribution strategy enables them to accurately track the impact of their advertising efforts across various touchpoints, helping to optimize bidding decisions based on real-time performance data. Therefore, starting with a strong measurement and attribution strategy ensures that the chain of regional bookstores can make informed decisions when implementing value-based bidding, ultimately driving more value from their Google Ads campaigns.