When to Add a Maximise Conversions Bidding Strategy

Summary

In this video, Aaron Young from Defined Digital Academy explains how to effectively implement 'Maximize Conversions' or 'Maximize Conversion Value' bidding strategies in Google Ads. He outlines five essential guidelines: avoid rushing into changes, analyze conversion data trends over time, set realistic performance targets, resist the urge to make immediate adjustments after implementing changes, and avoid altering both budget and bidding targets simultaneously. By following these steps, advertisers can enhance their campaign performance while mitigating risks of increased costs without corresponding conversions.

Takeaways

• 😀 Avoid rushing to implement maximized conversions bidding strategies, especially within the first six months of a new campaign.
• 📊 Analyze performance data from the last 30, 60, and 90 days to determine if your campaign is ready for a bidding strategy.
• 📈 Ensure you have at least 30 conversions a month for reliable data before introducing a maximized conversions bidding strategy.
• 🔍 Look for stable conversion trends over the past three months, ideally showing growth of no more than 20% month over month.
• 📉 Set realistic targets based on current cost per conversion instead of desired outcomes, and adjust gradually.
• ⏳ Allow at least four weeks after making changes to evaluate the impact of the bidding strategy before making further adjustments.
• 💰 Focus on conversion metrics rather than CPC once a maximized conversions strategy is implemented.
• 🚫 Avoid switching back to maximized clicks or adjusting targets too frequently after implementing new strategies.
• 🔄 Implement changes in a structured manner, focusing on increasing volume first and profitability later.
• 🎓 Utilize extended training resources to better understand bidding strategies and their effective implementation.

Q & A

What is the primary benefit of using maximized conversions bidding strategies in Google Ads?

The primary benefit is that it can significantly increase revenue and conversions for a business when implemented correctly.

What is a common mistake advertisers make when implementing maximized conversions?

A common mistake is implementing the strategy too early, which can lead to increased costs without additional conversions.

How long should you typically wait before introducing maximized conversions in a new campaign?

It is advisable to wait at least six months before introducing a maximized conversions bidding strategy in a new campaign.

What data trends should you analyze before implementing a maximized conversions strategy?

You should analyze performance trends over the last 90, 60, and 30 days, focusing on the stability and number of conversions.

How many conversions per month are necessary to effectively use maximized conversions bidding?

You should have at least 30 conversions per month to provide sufficient data for Google to optimize effectively.

When setting Target ROAS or Target CPA, what should you base these targets on?

You should base these targets on your current performance rather than the desired outcomes you wish to achieve.

Why is it important to wait four weeks after making changes to your bidding strategy?

It is important to wait because initial results may dip as Google recalibrates budget allocation, and you want to give the strategy time to stabilize before making further adjustments.

What should you focus on after introducing a maximized conversions strategy?

You should focus on conversion metrics rather than CPC, as the latter may increase while you optimize for conversions.

What is the relationship between budget increases and bidding strategy adjustments?

Increasing your budget focuses on volume, while adjusting bidding strategies focuses on profitability; it is best to tackle these changes separately for clearer results.

Where can advertisers find additional training on bidding strategies?

Advertisers can access extended training on bidding strategies through paid community resources mentioned in the video.