Module 4: Bidding & Reporting
Understand how your money is being spent. Redistribute your budgets towards high performance areas of your account. Leverage automation to bid towards a return on investment target. This is where scaling really starts to happen.
Table of Contents
Part A - Leverage the power of value-based smart bidding
Make use of Google Ads automated bidding whenever possible. The best methodology is to feed the Google Ads engine as much data as possible and train the bid signals to target the audiences most likely to convert.
1. Bidding For Volume
Bidding by volume means seeing how many clicks or conversions I can get for my budget. Because we set up conversion tracking in module 3, we have all the necessary components to bid by conversions or conversion value — if our objective is purely quantity.Â
2. Bidding for Return on Investment
I only recommend test budgets. If we can hit a profitable return on ad spend (ROAS) target — for example 1000% ROAS or $10 revenue for every $1 spent — then why put a limit on how much we can make. If you can scale your PPC campaigns with ROAS in mind, then spending $100k could potentially make you $1M using this framework and budgets become less important if your organization can support the growth.
Of course there are other factors to consider, such as a company’s ability to fulfill or support that level of business.
Remember that conversions should measure our website objectives, leads, calls, sales, etc…Set a target cost per action (CPA) that makes sense for your business goals.Â
Target return on ad spend (ROAS) bidding is the highest level of automated bidding and what we want for our lead generation accounts (how we assign lead magnets an ROI value is a different topic that will come later), and a must for e-commerce campaigns. For user acquisition campaigns, we match ROAS to a lifetime value or average revenue per user. We should ideally be able to control the volume of our conversions/conversion value by adjusting our target ROAS up or down, setting the stage for scalability.
3. Understanding bidding signals such as location, audience, and device.
Locations
Audiences
Ad Schedule
Device
Set your location bids first and then your ad schedule (what time you want ads to run). We recommend splitting campaigns by device, so for your desktop campaigns run a -100% bid modifier for mobile and tablet traffic and for your mobile campaigns run a -100% bid modifier for desktop and tablet. Lastly, do the relevant adjustments for your tablet campaigns.
4. Create/Apply Audiences to Your Campaigns For a Deeper Level of Performance
Audience targeting is where retargeting & personalization happens.
We can custom tailor our PPC campaigns to address specific groups, so in addition to the keywords that are being searches, we can layer audience groups most likely to meet the profiles of ideal customers.
Part B - Tracking Your KPIs Using Data Studio & Data Box
1. Google Data Studio
