A chain of sporting goods stores wants to boost the value of its Google Ads campaign with a value-based bidding strategy. What should its first step be?
- Enable a volume-based Smart Bidding strategy for all current campaigns
- Make sure it has a strong, goal-based measurement and attribution strategy in place
- Establish a value-based Smart Bidding strategy in their top two campaigns.
- Create a large list of negative keywords to help eliminate traffic from uninterested consumers.
Explanation:
The first step for a chain of sporting goods stores aiming to enhance the value of its Google Ads campaign with a value-based bidding strategy should be to ensure it has a strong, goal-based measurement, and attribution strategy in place. This foundational step is crucial as it lays the groundwork for accurately tracking and attributing the value generated by the campaigns. By establishing clear goals and metrics for measuring success, such as return on ad spend (ROAS) or total conversion value, the sporting goods stores can effectively evaluate the performance of their value-based bidding strategy and make data-driven decisions to optimize campaign outcomes. Additionally, a robust measurement and attribution strategy enable the stores to attribute value accurately across various touchpoints and channels, providing insights into the effectiveness of different marketing initiatives and facilitating continuous improvement in campaign performance. Therefore, ensuring the presence of a strong, goal-based measurement, and attribution strategy is essential for the successful implementation and optimization of a value-based bidding strategy, making it the correct first step for the sporting goods stores.