A couple of weeks ago we woke up to the exciting news that Google were allowing certain grant accounts to bid over the previous limit of $2. In this blog, we briefly summarise the initial results we have seen and detail our recommended strategy to make use of this opportunity for those who have the option. The 15th of September is an important date, as you must opt-in to the feature by then, or you will lose the option for the time being.
If you haven’t read our original blog on the subject, I recommend taking a look at that first.
Due to the lack of information available on the subject initially, we have sought clarification from Google about numerous aspects of this news. Google have confirmed that this feature is officially a beta and is only being offered to a limited number of Grant accounts. In our experience, only Grantspro accounts are being invited, but crucially not every Grantspro account gets the new feature.
As this is a beta, Google have confirmed that there is no documentation available for this feature. This is frustrating, and certainly makes it extremely hard to optimise campaigns effectively towards this new strategy.
If you have not been fortunate enough to have been given access already, the good news is that if the trial is successful, it will likely be rolled out across all grant accounts.
In general, there hasn’t been enough time since this feature was introduced to make a conclusive statement.
We have however, seen some extremely promising results. For example the graph below shows Impressions and Avg. CPC for an Event campaign for one of our clients.
The Maximise Conversions strategy was implemented on the 30th August, and almost immediately we can see how the Avg. CPC dramatically increases, up to over $6.00 at some points. This shows at this early stage we can achieve a bid three times the theoretical maximum!
As we would expect, the number of impressions increases as well. This is because, due to us being able to bid higher, we can be more competitive relative to others and thus enter more auctions. The more times our ads can show, the more potential clicks we drive onto the website. The more clicks, the more possible conversions that can then be achieved. Always a good thing!
More experimentation will be required to allow us to maximise the number of clicks achieved, and we will also be evaluating how best to configure conversion tracking in order to increase our bids as much as possible.
Our Recommended Strategy
With the optimism of the good initial results as seen above, we would urge every eligible account to opt-in. You must be quick as there isn’t much time before the deadline! Whilst opting-in is easy to do, it is not clear whether you must do so at campaign or account level.
So, in order to not lose out on this opportunity in any of your campaigns, we recommend changing each individual campaign bidding strategy to ‘Maximise Conversions’. It has been confirmed by a Google Employee that you will be able to switch between bidding strategies after the 15th, but only if you have opted-in.
To do this, you must first make sure that conversion tracking is in place in your account. This is something that most advertisers will have in place already. If not, we strongly recommend implementing this regardless of whether you have been invited to the Maximise Conversions beta.
Then all you have to do it change your bidding strategy (in the settings tab) to ‘Maximise Conversions’.
If you require any assistance with this, please feel free to get in touch. Otherwise, happy bidding!