Google Ads offers a variety of bid strategies that advertisers can use to optimize their ad campaigns. Here are some of the most common bid strategies and their limitations:
Manual CPC (Cost-Per-Click): This bid strategy allows you to set the maximum amount you're willing to pay for a click on your ads. The limitation of this strategy is that it requires constant monitoring and adjustment to ensure you're not overbidding or underbidding for clicks.
Target CPA (Cost-Per-Acquisition): This bid strategy sets bids to help you achieve a specific CPA goal. The limitation of this strategy is that it may not work well if you don't have enough conversion data for Google to optimize towards.
Target ROAS (Return-On-Ad-Spend): This bid strategy sets bids to help you achieve a specific ROAS goal. The limitation of this strategy is that it requires a minimum of 15 conversions in the last 30 days to be able to set a target ROAS.
Enhanced CPC (ECPC): This bid strategy automatically adjusts your manual bids in real-time based on the likelihood of a conversion. The limitation of this strategy is that it can increase your cost per click and may not work well if you have a limited budget.
Maximize Clicks: This bid strategy sets bids to get the maximum number of clicks within your budget. The limitation of this strategy is that it does not take into account the quality of clicks and may result in low-quality traffic.
Maximize Conversions: This bid strategy sets bids to get the maximum number of conversions within your budget. The limitation of this strategy is that it requires a minimum of 30 conversions in the last 30 days to be able to use it.
Target Impression Share: This bid strategy sets bids to achieve a specific impression share for your ads. The limitation of this strategy is that it may increase your cost per click and may not work well if you have a limited budget.
Overall, each bid strategy has its own advantages and limitations, and it's important to choose the right strategy based on your campaign goals and budget. Regular monitoring and optimization of your bids can also help you maximize the effectiveness of your chosen bid strategy.