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One of the newest Google tools available to advertisers this holiday season is seasonality adjustments in Smart Bidding. We previously introduced this tool here and wanted to provide some more insight on how it can actually work for you and your business.
The main reason this type of opportunity is exciting to businesses that rely on busy holiday shopping days is that Smart Bidding can now be more “smart” about how your performance will change seasonally based off of your historical data and knowledge. One of the more common pain points with Smart Bidding is the lack of manual controls that advertisers have available to them based on their expertise. Although a Smart Bidding’s algorithm will adapt to changing demand and performance in real time, it typically would have to do so based on the performance it was seeing. For example – this could mean that a strategy like Target CPA would adapt throughout the day to the increased traffic and CVR on Black Friday, but it wouldn’t immediately be ready at midnight for the start of a sale, meaning you would miss out on the opportunity for additional revenue.
Now, you can set your Smart Bidding strategy to prepare for expected changes in performance in advance. You might know that you have a “50% off” sale starting on Black Friday that will drastically improve your CVR and other performance metrics, but your bidding strategy would not have been able to incorporate that knowledge.
You can now prepare your bidding strategy to be more aggressive (or conservative) based on upcoming seasonal changes. This tool is currently available for Search and Display campaigns, and we highly recommend it to advertisers who have busy holidays ahead. The increased site traffic and sales makes this an exciting time of year, but it can also make it a very busy time of year. Being able to get ahead of bidding changes will make your life easier and performance better!