Bing Ads has rolled out two new advanced bidding strategies, one of which is the most user-requested feature so far this year.
Target CPA, the feature that users have been clamouring for, optimizes campaigns to generate conversions at a cost-per-acquisition set by the advertiser.
Since the CPA is set at the campaign level, advertisers do not have to manage bids for individual keywords or ad groups.
A maximum CPC can also be set by the advertiser
This feature aims to do exactly what it says — create as many conversions as possible without exceeding a campaign’s budget.
Similar to Target CPA, advertisers set a maximum CPC, but bids for individual keywords and ad groups do not need to be set.
Advertisers can get around the inability to manually bid on ad groups and keywords by selecting the “manual bid” strategy type.
Certain requirements must be met by the advertiser in order to use these features.
- Campaigns must have a minimum of 15 conversions in the last 30 days.
- Universal Event Tracking must be implemented on the advertisers’ websites.
- Campaigns must be targeting USA, Canada, Australia, France, Germany, or the UK.
Advantages Over Other Search Ads
Bing emphasizes that these new bidding strategies leverage a unique combination of signals that are only available from Bing Ads offerings.
“Like each of our bidding strategies, these new additions will leverage unique signals that are only available in our bidding offering to drive real-time dynamic bidding adjustments. Signals can include a user’s web browser, operating system, search query, and ad copy. We also perform real-time bidding adjustments based on the time of day or day of week, a user’s location, and their device type to better achieve your bidding goal.”
These new bidding strategies are rolling out throughout the week. Bing recommends testing them on a few campaigns at first and allowing at least 2-3 weeks for its system to learn and achieve bidding goals.