Smart Bidding is a suite of automated bidding strategies powered by Google AI, designed to optimize for conversions or conversion value. By setting precise bids for each auction, Smart Bidding aims to increase conversion volume or value while maintaining or improving cost efficiency in line with performance goals.

The main Smart Bidding strategies include Target CPA, Target ROAS, Maximize Conversions, and Maximize Conversion Value.

Other automated bidding options, like Target Impression Share and Maximize Clicks, are also available, though they don’t leverage auction-time bidding like Smart Bidding does.

Let’s dive into five actionable Smart Bidding strategies with Google Ads that can help you boost conversions, streamline costs, and increase your ad revenue.

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🎯 1. Align Your Bidding Strategy with Revenue Goals

Tailor your Smart Bidding strategy to your specific campaign objectives. Choosing the right bidding approach is critical to hit your targets:

• Maximize Conversions: Set bids to drive more sign-ups, purchases, or other actions.
• Target CPA (Cost Per Acquisition): Define a CPA, and let Google’s AI keep costs within this target.
• Target ROAS: Set a specific ROAS goal, and Google will adjust bids based on the conversion value.
• Enhanced Conversions: Optimize for high-value actions and drive better ROAS.

🔑 Tip: Continuously monitor your performance and make adjustments to ensure you’re on track to hit revenue goals.

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🤖 2. Use Advanced AI Tools to Reach a Broader Audience

Google provides cutting-edge AI tools to amplify your Smart Bidding strategies and reach more customers:

• Broad Match: Capture a wider audience by using broad-match keywords. This tool widens your reach by covering related searches and synonyms.
• Performance Max: This tool optimizes your campaigns across Google’s full network (YouTube, Maps, etc.), using AI to ensure your ads are seen in the most effective spaces.

📈 Pairing Broad Match and Performance Max can boost your conversions significantly. Google notes a 35% conversion increase for Broad Match and an 18% lift with Performance Max for targeted campaigns.

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📞 3. Supercharge Smart Bidding with a Revenue Execution Platform

Many marketers miss out on valuable phone call conversions. In high-value industries, phone calls represent up to 50% of conversions.

To make the most of these leads:

• Use platforms like Invoca to track these conversions.
• Feed the data directly into Google Ads to give Smart Bidding a full picture of performance.

💡 Result: Smarter bidding decisions and improved ad efficiency, leading to more effective budget allocation.

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🔄 4. Optimize Retargeting with Rich Data Insights

Retargeting those who have already engaged with your brand is incredibly cost-effective, especially when using first-party data. Conversations over the phone offer valuable insights—uncovering a customer’s needs, preferences, and hesitations.

With AI-driven revenue platforms, like Invoca, you can extract these insights to:

• Retarget customers with relevant products.
• Offer discounts to price-sensitive customers.
• Suppress ads for customers who’ve already purchased.

🎯 Pro Tip: Use these insights to craft highly targeted ads, improving conversion rates and reducing ad spend waste.

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📞 5. Detect & Fix Call Experience Issues

Conversion rates can drop if call experience isn’t optimized. Common issues include missed calls, long hold times, or underperforming sales scripts.

Use data from revenue execution platforms to:

• Track call performance and identify locations with high missed call rates.
• Analyze call recordings to improve call scripts and staff training.

📈 Fixing these issues can increase conversions and help you make the most out of your ad spend.

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Benefits of Google Ads Smart Bidding

Google Ads’ automated bidding empowers advertisers to optimize bids efficiently at scale, aligning with specific business goals through the power of Google AI. Here’s how Smart Bidding delivers performance:

1️⃣ Goal-Oriented Bid Strategies

Smart Bidding offers a range of bid strategies tailored to various business objectives, from driving conversions to maximizing conversion value, allowing for seamless alignment with specific performance targets.

2️⃣ Real-Time, Auction-Level Optimization

With auction-time bid optimization, Smart Bidding adjusts bids precisely for each auction. This ensures that each bid is tailored to the user’s search context, resulting in more effective performance alignment and efficient spending.

3️⃣ Enhanced Query-Level Performance Modeling

Smart Bidding leverages query-level conversion data to mitigate data gaps for lower-volume keywords. By applying these insights across the account, Smart Bidding can bid more accurately, even on keywords with limited performance history.

4️⃣ Robust Contextual Signal Integration

Beyond primary signals like device, location, and time, Smart Bidding evaluates an extensive range of contextual signals, including browser type, operating system, and language. It also considers combinations of signals that statistically impact conversion rates, yielding a more holistic, context-sensitive approach to each bid.

5️⃣ Adaptive Learning Algorithms

Smart Bidding’s algorithms continuously update in response to real-time changes in performance and conversion cycles. This dynamic learning process allows Smart Bidding to weigh recent data more heavily when relevant, ensuring bids remain aligned with evolving campaign conditions and objectives.

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🚀Make the Most of Every Dollar with Google Ads Smart Bidding

By implementing these five Smart Bidding strategies and pairing them with a revenue execution platform, marketers can harness the full power of Google’s AI to boost conversions and maximize revenue.

🌟 Ready to supercharge your Google Ads campaigns? These steps will put you on the path to optimizing your budget, increasing efficiency, and driving meaningful growth for your business.

Learn More about Smart Bidding: Basics and best practices