Hajra Naz
AI is more than just a fad in today’s cutthroat marketing environment—a necessity. This year, almost 90% of marketers are investing more in AI to optimize Return on Ad Spend (ROAS). If you are not using AI advertising budget your competitors will go on top of the race.
Don’t worry, though; many AI tools can improve your campaigns, increase output, and generate income without raising your ad budget. Google Ads Smart Bidding is the most effective tool.
What Is Google Ads Smart Bidding?
An AI-powered tool called Google Ads Smart Bidding automatically modifies bids in real time to meet your campaign objectives. Quickly analyzing patterns and trends that would be difficult for a human to spot, it enables you to maximize your budget and free up your team to work on more valuable projects, which will increase revenue.
Read More: Mastering Google Ads: A Comprehensive Guide
5 Tips to Drive Revenue With Google Ads Smart Bidding
1. Align Your Bidding Strategy With Revenue Goals
Google Ads Smart Bidding offers different strategies based on your campaign objectives and budget:
- Maximize Conversions: Sets bids to increase actions like sign-ups or purchases.
- Target CPA (Cost Per Acquisition): Allows you to control customer acquisition costs by setting a specific CPA target.
- Target ROAS: Adjusts bids based on expected conversion values to maintain a specific ROAS.
- Enhanced Conversions: Optimizes for actions that hold significant value, improving return on ad spend.
Regularly monitor and adjust performance to meet revenue goals effectively.
2. Use Advanced AI Tools To Reach More Customers
Google’s latest AI tools can elevate your Smart Bidding strategy, expanding your reach and maximizing results. By pairing these tools with your chosen bidding strategy, you can connect with a broader audience.
Here’s how they work:
- Broad Match: This tool casts a wider net by including related searches and synonyms, enabling you to reach potential customers who use varied search terms. Build a thorough keyword list with broad-match keywords to boost visibility. Google reports that marketers using Broad Match in Target CPA campaigns see an average 35% increase in conversions.
- Performance Max: This AI-powered tool optimizes campaigns across Google’s entire network—including YouTube, Google Maps, and more—to maximize conversions and ad spending. Performance Max automatically adjusts bids, delivering an ideal balance between reach and cost efficiency. According to Google, marketers using Performance Max see up to 18% more conversions at similar costs per action.
Pairing Broad Match with your Smart Bidding model enhances your query coverage, ensuring you capture valuable leads across Google’s platforms. Together, Broad Match and Performance Max can significantly amplify your reach and conversions.
3. Use Revenue Execution Platforms To Supercharge Smart Bidding
AI is only as effective as the data it receives, and many marketers overlook a vital component: phone call conversions.
This gap can be significant, as research shows that 20-50% of conversions happen over the phone in high-stakes industries like healthcare, home services, automotive, and telecommunications.
Without tracking these phone call conversions, your Google Smart Bidding setup may not be fully optimized. Automated bidding tools adjust based on conversion data, so if phone conversions aren’t included, Smart Bidding isn’t working with a complete picture of your ad performance.
4. Optimize Retargeting With Rich Data Insights
Retargeting is a cost-effective way to boost conversions. It works especially well with people who have already engaged with your brand. Using first-party data, like insights from phone conversations, can make retargeting even more effective.
When customers call, they share details about their needs, preferences, and satisfaction points. AI analyzes these conversations at scale, helping you track the most relevant data points to your business, such as the products callers showed interest in, any price sensitivity, and whether they made a purchase.
With these conversation-based insights, you can create more personalized customer profiles and retarget with greater precision. Here are a few effective retargeting and suppression strategies using first-party data:
- Retarget callers who didn’t purchase with ads featuring products they discussed on the call.
- Retarget customers who bought over the phone with ads for related add-ons or complementary products.
- Retarget callers who showed price sensitivity with ads offering a special discount.
- Suppress future ads for products already purchased by callers, ensuring a streamlined ad experience.
This data-driven approach allows you to retarget smarter, delivering ads that truly resonate.
Read More: 5 Best Google Ads Alternatives To Diversify & Growth
5. Detect & Solve Call Experience Issues
Revenue can be lost due to missed calls, long hold times, or ineffective call scripts. Revenue execution platforms provide insights into call handling, such as unanswered calls or conversion rates per agent, allowing you to identify and address problem areas.
You can enhance conversion rates and revenue by working closely with contact centers to ensure prompt call handling and effective sales scripts.
Final Thoughts
By applying these five tips and integrating a revenue execution platform, B2C marketers can fully leverage Google’s AI capabilities to drive conversions and maximize the impact of every marketing dollar.
