Smart Bidding is a tool from Google which manages your bids across all devices to drive more conversions and increase ad efficiency. It is a value-based bidding solution to deliver the best possible performance against your dealership’s marketing goals with the greatest possible efficiency.
Not Just Set It and Forget It
Machine learning will leverage technology to ensure campaigns are optimized for peak performance, they are not set it and forget it. Campaign performance increases up to 15% with human input, so there should always a specialist watching campaigns on Smart Bidding to make sure goals and KPIs are met.
Smart Bidding Campaign Strategies
Bidding strategies should align with your marketing goals. Campaign goals with Smart Bidding should focus on lead generation, sales conversion and return on ad spend. It is not meant for increasing impression share or maximizing clicks.
What Smart Bidding does best is learn about potential customers that are most valuable to dealers and optimize ads to those who are most likely to engage and convert.
Metrics that Matter and Measuring Success
With value-based bidding it is important to be clear on your goals upfront, so campaigns are built to meet these expectations. Decide if you are focusing on customer value, volume, revenue, or profit.
Once you have decided on the metrics and strategy, measure what matters. Dealer campaigns on Smart Bidding should measure CPA, ROAS, Conversion Value and Conversions.
L2T’s team of digital specialists are always monitoring campaigns for performance to make sure dealers are getting the most out of their budgets and campaigns.
Is Smart Bidding Right for Your Dealership Campaigns?
Results can be found for any dealer, what matters is set your goals and let the machine learning work for you. Your dealership can find success with any budget and any vehicle category. Your budget will be efficiently spent.
Check out how L2T helped a dealer with Smart Bidding on page 29 of the Google Dealer Guidebook 2.5.
Learn More About Smart Bidding with L2T
There are many ways to learn more about Smart Bidding, check out the resources below.
Watch our Smart Bidding webinar with Google On-Demand!
Webinar Passcode: 9k!BGE!4
Download our PDF with our Smart Bidding Webinar Takeaways
Contact and L2T Account Strategist to discuss how Smart Bidding could drive more customers to your business.