Google introduced three new bid strategies for Google Ads advertisers that offer more flexibility than smart bidding.
More than 70% of Google Ads advertisers now use an automated auction system, including the dynamic auction system.
Although users are happy with Google's automated bidding solutions, they have expressed the need for more customizations.
In response, Google introduced these three new innovations in auctions.
Conversion settings at the campaign level
Advertisers will be able to set conversion goals at the campaign level.
Previously, advertisers were limited to setting conversion goals at the account level. This meant that all campaigns in the account would have the same conversion goals.
Advertisers can now map the relevant conversion goals to the campaign level. Google notes that this will be particularly useful for accounts with clearly differentiated campaign goals.
Advertisers have asked for more control over seasonality beyond what smart bids offer.
Specifically, advertisers need controls to take into account one-time events, such as one-off promotions. So, Google Ads introduces seasonality adjustments.
Seasonal adjustments could be used, among other things, to program an adjustment for periods when conversion rates should skyrocket.
Maximize the conversion value
Maximize Conversion Value is a new auction strategy that allows advertisers to maximize the conversion value within the limits of a given budget.
Until now, conversion-related tendering strategies have focused more on efficiency.
Finally, in the coming months, Google Ads will deploy value rules that allow advertisers to differentiate conversion values based on features such as location, device, and audience.
With value rules, advertisers can customize conversion values to better align with business goals.