Bing Ads now automatically makes adjustments to bids in a range after estimating the changes that a user is likely to convert. This is the first time that Bing Ads has released its bid strategy. The search engine has named it “Enhanced CPC.” It will automatically optimise your bids for maximum conversions, helping you get the best out of your bids.
What is Enhanced CPC?
Enhanced CPC analyses different signals indicating the likeliness of searchers being converted based on past conversions. The bid strategy is based on machine learning.
Bing Ads requires advertisers to enable Enhanced CPC for their campaigns. It will then adjust the bids automatically in real time. According to Bing Ads, this can help in optimising your bids for best-possible efficiency:
- You could be bidding up to 30% higher on prospects who have very high likeliness of converting
- Up to 100% less on those who are least likely to convert
Bing Ads further claims that this bid strategy will help businesses generate much more conversions while keeping their CPA low.
Universal Event Tracking
Before you activate Enhanced CPC, Bing Ads requires you to implement its Universal Event Tracking. This is the Bing Ads’ conversion tracking code. It also requires that you have some conversion data recorded so that the strategy can work more effectively. The good thing about the strategy is that it can be used with 3rd-party bid management tools too.
Enabling Enhanced CPC doesn’t restrict the settings that you can make with the manual aspect of your campaigns. It still allows you to set the ad groups and ad keywords for Manual CPC.
How to Activate Enhanced CPC?
Bing Ads reporting has a new bid column. Check it to find the ‘enhanced’ option to activate the strategy. You can see a new column known as “Bid strategy type.” It displays the bid strategy that is applied to the campaign, the keyword or the ad group. The new column can be seen from the following:
- Open Campaigns
- Click “Ad Groups”
- Click “Keywords” tab
The column can now also be seen in the reports Keyword Performance, Share of Voice, and Website Placement.
If you want to optimise your Bing Ads campaign, make sure to get the help of industry-leading experts. It is recommended to visit http://thesearchmarketingshop.com/sem/google-adwords-management/ for more information on advertising and the right specialists.