If you have a set budget to spend on a campaign and you still hope to gain a good return on investment (ROI), what should you set up in Search Ads 360’s Performance Center to reach that goal?
- You should set up conversion cart data.
- You should set up budget bid strategy.
- You should set up data-driven attribution.
- You should set up Google Ads auction-time bidding.
Explanation:
In Search Ads 360, if you have a set budget for a campaign and aim to achieve a good return on investment (ROI), you should set up a bidding strategy that aligns with your performance goals. The Performance Center in Search Ads 360 offers various bidding strategies designed to optimize your campaign’s performance based on specific objectives. One effective bidding strategy for achieving a good ROI within a fixed budget is the “Target ROAS” (Return on Ad Spend) bidding strategy.
Here’s how you can set up a “Target ROAS” bidding strategy in the Performance Center:
- Navigate to the Performance Center:
- Log in to your Search Ads 360 account.
- Go to the “Campaigns” or “Bid Strategies” tab and select the “Performance Center.”
- Create a New Bid Strategy:
- Within the Performance Center, click on the “+ New Bid Strategy” button.
- Select “Target ROAS” Bidding Strategy:
- Choose the “Target ROAS” bidding strategy from the available options.
- Configure Target ROAS Settings:
- Set your desired target ROAS value. This is the ratio of revenue generated to the cost of advertising spend. For example, if you aim for a 400% ROAS, you would set the target ROAS value to 4.0.
- Choose Conversion Goals:
- Select the conversion goals that align with your campaign objectives. This could include specific actions such as online purchases, lead form submissions, or other valuable conversions.
- Set Budget Constraints:
- Define your campaign budget to ensure that the bidding strategy operates within the allocated budget. This helps control spending while optimizing for the desired ROAS.
- Apply the Bidding Strategy:
- Once you have configured the settings, apply the “Target ROAS” bidding strategy to the relevant campaigns or ad groups.
The “Target ROAS” bidding strategy leverages machine learning algorithms to adjust bids in real-time, optimizing for the specified ROAS goal. This allows you to maximize the return on your advertising investment within the defined budget constraints.
Remember to regularly monitor the performance of your campaign, analyze the achieved ROAS, and make adjustments as needed to optimize for the best results. Additionally, stay informed about changes in the advertising landscape and adjust your bidding strategy accordingly.