The Maximise Conversions bid strategy is one of many automated bidding strategies that is currently available within Google Ads. It might come as no surprise that its primary goal is to go out and get you as many conversions as possible for your budget.
This blog post is going to take you through the in’s and out’s of the Google Ads Maximise Conversions bid strategy as well as answering some of the most important questions marketers should ask themselves before deciding if this is the right bid strategy for you.
Let’s get started.
How Does Maximise Conversions Bid Strategy Work?
The Google Ads Maximise Conversions bid strategy works by using a collection of different ‘signals’. Signals are things like remarketing lists, browsers, the time of the day and the operating system. All of these aspects are taken into account to implement auction-time bidding within campaigns.
So rather than you making blanket bid adjustments in a campaign, smart bidding will instead set a bid each and every time someone searches for something that matches your keyword – based on the likelihood of success.
As i’m sure you’ve guessed, conversions are pretty much the only thing that matters to this strategy.
It doesn’t care about your cost-per-acquisition (CPA).
And It definitely doesn’t care about your return-on-ad-spend (ROAS).
All this strategy cares about is your campaign getting as many conversions as it can for your budget. At whatever the price.
So if you need conversions from your campaigns at a fixed cost, then this probably isn’t the bidding strategy for you.
However, if you have some flexibility in the cost that you hit for each conversion then it could be worth exploring further.
As always, there’s bid strategy best practices. But the only real way to know if it’s going to work is by testing it out.
How To Setup Maximise Conversions Bid Strategy
To get started you’ll need to open up the campaign settings for the campaign that you want to use the bid strategy on.
Under the ‘Bidding’ section, you’ll be able to select ‘Change bid strategy’ which will allow you to select each of the bidding strategies available in the dropdown :
Once you choose Maximise Conversions, you will be shown what your daily spend vs your daily budget currently is :
Obviously the goal of the Google ads maximise conversions bid strategy is to get as many conversions as it can. So if you see a big difference between your current daily spend and your budget, then you could be in for a nasty surprise if you don’t make any changes.
The strategy could quite easily think a CPA 20 x higher than it currently is will be great for you. But you probably won’t.
If there is a big difference in current daily spend vs your daily budget then it’s worthwhile bringing them to be more inline with each other in the early stages of the campaign adjustment until you start seeing positive results.
If you do decide to make the switch to a new strategy, you should be ready to wait at least 7 days before results begin to improve.
Should I Use Maximise Conversions On My Campaigns?
The answer to this question really depends on the use case.
First of all, you’ll need to make sure that you actually have enough conversion volume to use this bid strategy in the first place. Google frequently mentions that you need a minimum of 15 conversions in an account in order for automated bidding to work correctly. However more recently, we have seen more than 15 conversions required in a campaign before we can even move from manual bidding to an automated one.
The next question to address after conversion volume is, can you afford to do it?
For instance if your campaigns would be at a loss if they were bringing in each conversion at 25% more than they were previously, then this probably isn’t the Google Ads bid strategy for your campaign.
You would be best of looking to use the Target CPA bid strategy instead.
However, if you have some room to play with from your current CPA and the CPA that you would need to hit to still remain profitable, then this would probably be worth exploring.
As with any big adjustment that you make in a Google Ads account, you should always try to run an experiment (if it’s possible) before making a switch to a new strategy.
There’s always going to be bid strategy best practices. But the only real way to know if it’s going to work is by trying it out for yourself.
Ideally you would test your existing strategy versus a new one and see which one comes out on top. This should especially be the case if a particular campaign is a key source of new business for the account.
Once you have enough data, you will be able to see which strategy would give you the best results in your campaign.
Device Bid Adjustments On Maximise Conversions Bidding
It might not come as much of a shock but as this is an automated bidding strategy then there’s very little that you can do to have an influence the results of the campaign.
However, one thing that you can do is adjust your mobile bid to be -100%. Meaning that your ads wouldn’t show on mobile devices.
Maximise Conversions vs Target CPA
These bid strategies are very similar and deciding between the two will really depend on your business.
The Target CPA bid strategy is obviously going to be effective when you have a pre-determined figure that you need to hit to make a campaign profitable.
However, if you are already running Target CPA bid strategy and are trying to improve the performance of the campaign, then it might be worthwhile testing Maximise Conversions to see if this can bring you in a higher volume of conversions.
The Problem With Only Focusing On Conversions
The problem with conversions is that it only tells half the story about the result from a financial viewpoint.
Let’s take a dentist for instance that’s generating new enquiries for their business using Google
Ads. If they are purely aiming to get as many conversions as possible for their budget, then maximising them doesn’t necessarily mean they will make more money. All it means is that they get more enquiries whilst ignoring the price that they are paying for them.
So to really see the effectiveness in financial terms of a campaign’s performance, it makes sense to be pairing revenue data with marketing data as much as possible.
Using our platform Monty, marketers can automatically sync sales from our CRM with Google Ads and upload your offline sales data into the platform. Doing this creates much more meaningful marketing reports to show the true ROI from Google Ads marketing campaigns.
And that’s it!
I hope you’ve enjoyed this post on the maximise conversions bid strategy best practices. Google Ads Smart Bidding Options is obviously the direction that Google Ads is going in and has been for some time. What matters more now is the overall strategy of the account, which includes choosing the right bid strategy for your campaigns.
If you have any questions or comments, please feel free to drop them into the comments section below!