This is the subhead for the blog post
Managing bids is one of the original and most effective levers to impact performance. While Google/Bing/Gemini have released countless additional settings and levers to push the abilities to target the best users for the desired cost per click, adjusting keyword-level bids is a tried-and-true factor in performance.
This month, Bing released two new strategies (Maximize Conversions and Target CPA) to expand the keyword-level bidding options to five types. Here’s a quick breakdown:
- Manual CPC (Cost Per Click): This is the campaign’s default strategy, with the user setting ad group and keyword bids manually.
- Enhanced CPC: Bing automatically adjusts bids in real time to increase conversions.
- Maximize Clicks: Bing automatically adjusts bids in real time to increase clicks.
- **NEW** Maximize Conversions: This option aims to generate as many conversions as possible within a campaign’s budget.
- **NEW** Target CPA: This option aims to generate conversions at the average cost per acquisition the advertiser sets at the campaign level.
Source: Bing Ads Training Resources
A campaign only needs a minimum of 15 conversions within the past 30 days to be eligible for either of the new bidding strategies. Bing uses a variety of signals such as location, browser, and gender to inform its bidding strategies and then makes real-time bid adjustments.
Utilizing Smart Bidding strategies can free up additional time for larger initiatives, strategic planning, and expansion exploration, among other things. As always, we recommend testing each new option and verifying performance before diving in.
Good luck! If you have any early findings on Bing’s new bidding options, please leave a comment.