Google have announced a new tool that aims to make AdWords bidding less time consuming for advertisers.
Enhanced CPC is a bidding feature that you can use with your maximum CPC (cost per conversion) bids in an effort to get more conversions and higher ROI. The feature offers advertisers the ability to allow automatic adjustment of their campaign bids based on historic conversion tracking data. In other words, Google does all the work for you!
If a search term is highly likely to lead to a conversion, Enhanced CPC will bid up to 30 per cent above the maximum CPC. On the other hand, if the adjusted bidding price is harming your campaign performance, Enhanced CPC will automatically trim down its impact.
Dan Friedman from the Inside AdWords Crew said “you should receive more conversions while maintaining or reducing your overall CPA and hopefully spend less time managing your max CPC bids.” Sure, sounds good to me!
Google has outlined three ways Enhanced CPC is able to help:
Adjust your bid depending on how well a particular search or display network partner site in the Google network has converted for you in the past
Recognize when specific words within a keyword (e.g. ‘kits’) convert well and adjust your bid when users search on variations of these terms (e.g. ‘model airplane kits for children’)
Detect attributes such as the user’s location, language settings, browser, and operating system and analyze how these attributes may impact the likelihood of your ad converting
Of course there is a video to accompany this features launch. So, here it is:
The tool certainly looks very promising but I wonder how many advertisers will be willing to hand over control to Google?
Courtney is an online marketing and communications specialist at ineedhits - a leading search engine marketing firm with over 16 years experience. Courtney has been living and breathing online marketing for over 5 years. She specializes in web and communication marketing, while providing news and opinion to online marketing communities.