PPC, SOLUTIONS 8
Mastering Maximize Conversion Value Bidding Strategy
If you’ve ever dabbled in Google Ads, you’ve likely encountered a variety of bidding strategies. One that often puzzles even the seasoned pros is Maximize Conversion Value. You set it up, expecting the algorithm to work its magic. The next minute, the campaign goes radio silent on spending. Trust us, we’ve been there.
The Case of the Muted Campaign
Let’s dive into a real-world example. We had a client account with a main campaign running on Performance Max (PMax), feed-only. This means the campaign wasn’t given the usual bells and whistles—no lifestyle images, videos, or ad copy. Utilizing a feed-only campaign strategy specifically targets the shopping network, ensuring a more effective allocation of your advertising budget.
By doing so, the campaign uses your existing product feed—comprised solely of product images and titles—to engage potential consumers across various online platforms. Essentially, this campaign was limited to creating shopping ads, either for outbound traffic or remarketing purposes.
The Logic Behind Feed-Only Campaigns
Why do we do this? First, many campaigns often operate simultaneously within a single account. Designating one as feed-only allows for a larger portion of the budget to be dedicated to the shopping network, thus maximizing ROI.
Second, this tactic inherently limits the risk of budget wastage. It curtails PMax’s spending capabilities on less impactful channels, as budgets for those are separately allocated. In essence, the feed-only campaign acts as the cornerstone, or the bottom of the marketing funnel, guiding resource allocation.
The Plot Twist
On July 1st, we switched the campaign’s bidding strategy to Maximize Conversion Value. Next thing we know, the campaign nosedives. No spending, nada, zilch. It stopped spending after two days and didn’t spend another dime for almost a week. The odd part? On July 12th, we changed it to Maximize Conversions, and the algorithm takes days to recalibrate. In fact, it took five days to pick back up, and on day six, it started to spend again. Mysterious? Absolutely.
You Won’t Know Until You Try
Switching your campaign to Maximize Conversion Value can sometimes feel like a gamble. When it works, it often proves to be a more efficient bidding strategy than Maximize Conversions, yielding higher returns.
The catch? You won’t know whether or not it’s going to work until you actually take the plunge. It’s like diving into murky waters without a signpost to guide you. If the campaign continues to spend after the switch, you’re golden, but if it halts, well, you’re back to square one.
What makes this situation even more perplexing is the time it takes for the algorithm to readjust. Even if you decide to switch back to your previous strategy, don’t expect immediate results.
Note: Before considering Maximize Conversion Value, ensure you have consistent data—preferably at least 45 days’ worth—before making the switch.
Every change you make in your bidding strategy essentially puts you in a waiting game. Patience becomes your new best friend as the algorithm deliberates on whether or not to embrace your latest switch. It could take days for the campaign to decide it doesn’t like the new strategy and an equally grueling period to warm up to a new one. The bottom line? Brace for impact and have a plan B. You’re in for a rollercoaster ride each time you alter your bidding strategy.
Choosing Maximize Conversion Value is both a promising and perplexing endeavor. The possibility for significant ROI is captivating, but navigating its intricacies requires a combination of vigilance and adaptability. Your success hinges not just on taking the leap but also on your readiness to course-correct when the unpredictable occurs.
If you’re a small business looking to implement Google Ads, check out our sister agency StarterPPC, which specializes in handling monthly budgets between $1,000 and $5,000. Check them out at starterppc.com.
Founder || ProFit Marketing Solutions
Two-time “Two Comma Club Award” Recipient
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