When calculating a manual bid amount, you need to estimate an expected conversion rate. The conversion rate is best determined by looking at the:
- conversion rate for email campaigns divided by 4
- average campaign conversion rate of your competitors, of similar size
- number of email subscribers you have divided by your annual profit
- percentage of customers who have purchased your product in the past quarter
- standard benchmarking tool for your industry
- percentage of customers who have converted in past campaigns with a similar call to action