Get more conversions with the new Enhanced CPC bid strategy
Bing Ads conversion tracking helps you more efficiently target users that are more likely to convert on your business goals. By focusing on conversions, you can save money by focusing on only buying clicks that have the biggest impact on your business. But properly optimizing your campaign can still take time and a lot of analysis for some advertisers. Today we are introducing Enhanced CPC, a new automated bid strategy that helps you maximize your conversions while still having control over your bids. In the June 2016 SDK release, we included a limited preview of the Enhanced CPC bid strategy. Enhanced CPC is now generally available to all customers.
What is Enhanced CPC?
When you enable Enhanced CPC for your campaign, Bing Ads will automatically adjust your bids in real time so that you bid up to 30% higher on users that are more likely to convert and bid up to 100% less on users less likely to convert. Enhanced CPC will help your campaign get more conversions, lower your cost per acquisition, and improve your return on investment in Bing Ads.
What is a bid strategy? How do I manage bid strategies for my campaigns?
A bid strategy is how you want to manage bids for your campaign. Today we offer the following bid strategies (bidding schemes) in the Campaign Management API:
- ManualBiddingScheme: This is the default bid strategy for all campaigns. Your bids are used without any automated optimization.
- EnhancedCpcBiddingScheme: Your bids are automatically adjusted to help your campaign get more conversions and lower your cost per acquisition.
- InheritFromParentBiddingScheme: This is the default bid strategy for all ad groups and keywords. Wth this setting, your bid strategy will be determined by the parent entity’s bid strategy.
Bid strategies are also supported through the Bulk API. You can manage the new Bid Strategy Type field for the following record types:
There are also a new BidStrategyType column and the new BidStrategyTypeReportFilter available in the following reports:
Please note that Enhanced CPC is only available for Search and Content Campaigns. You can also manage bid strategies in the Web UI. Learn more here.
How do I know if Enhanced CPC is working?
Enhanced CPC should lower your CPA and increase your conversion count. The best way to evaluate if this is happening is to allow Enhanced CPC to run for at least one month. After one month, you can compare the campaign's monthly CPA and monthly conversion count with the CPA and conversion count you saw the month before turning on Enhanced CPC.
Can I use Enhanced CPC if I'm using a bid management tool?
Yes! Enhanced CPC will not break 3rd party bidding tools. With Enhanced CPC, we will “enhance” the bids set by your existing tools.
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