Staying ahead of the competition in the rapidly changing field of online advertising means getting the most out of your time and money. Automated bidding is a new way to do things that take care of campaign optimization so you can focus on creative projects and strategic planning. However, automatic buying gives you two main benefits: saving time and resources and achieving optimal performance that can significantly affect your campaigns. Let’s discuss What are Two Benefits of Automated Bidding.
What are Two Benefits of Automated Bidding?
Many people question What are Two Benefits of Automated Bidding?. After researching and talking with professionals based on real-life results. Following are the two significant benefits of Automated Bidding.
Save Time and Resources
Bidding by hand needs to be constantly watched and changed, which takes time and makes it hard to expand. Automated buying does all the hard work by looking at vast amounts of data in real-time and making smart price changes. This gives you more time and money to work on more important things, like planning campaigns, writing ads, and studying your community. Think about what could happen.
Get the Best Performance Possible
People have limits, like emotional biases, limited data processing power, and even set sleep routines. On the other hand, bidding systems that use AI get around these problems. As they change prices for each sale, they are constantly looking at past data to find trends and predict how things will do in the future. This creates tailored bids that get you the most sales and return on investment (ROI), which is something that humans can’t do.
| Save Time and Resources | Get the Best Performance Possible |
|---|---|
| Let your team stop adjusting bids and analyzing data all the time. | AI programs look at huge amounts of data, guess how things will do in the future, and make deals better in real-time. |
| More time to plan strategies, come up with new ideas and analyze campaigns. | More sales, a higher return on investment, and more efficient campaigns compared to human bids. |
But How Does It Work?
After knowing what are two benefits of Automated Bidding let’s move to how does it work. For different goals, different automatic buying techniques work best. Some popular choices are:
| Strategy | Goal | Description |
- Maximize Clicks: try to get as much traffic as you can within your budget.
- Target CPA: Sets a target cost per acquisition (CPA) and instantly changes prices to get customers at that cost. This is a great way to get people to know about your brand and visit your site. Ideal for getting the most results within a certain budget.
- Target ROAS: Aims for a certain return on ad spend (ROAS). Great for making the most money while keeping things running smoothly.
You can read this post What is the First Step in Developing an Automation Strategy in 2024 to develop your strategy.
Real Life and My Personal Example of Automated Bidding
An online store, I am not mentioning the name that sells high-end goods wanted to boost sales while keeping a certain profit margin. Their attempts to bid by hand took a long time and didn’t always work out.
As part of their Target CPA approach, they set a target cost per purchase for each type of offering. The AI system changed offers automatically to get customers at or below the goal CPA.
Results They Got
- The number of conversions went up by 25% while the CPA stayed the same.
- Return on ad spend (ROAS) went up by 30%, which increased profits the most.
- Half as much time was spent on campaign management, which freed up resources for marketing and product development.
Bonus Tips From Many Professionals and My Personal Experience
- The results will be different for you based on your business, marketing goals, and funds.
- For more interesting ads, think about adding pictures like graphs or charts.
- It is very important to pick the right automatic buying approach for your needs.
- Closely watch how things work and make changes to the settings as needed.
- For the best results, use AI along with your human knowledge. AI can your automate Google reviews.
Read This Post: How can Google AI Help Marketers Reach Potential Customers?
FAQs on the Topic What are Two Benefits of Automated Bidding
Is it right for me to bid automatically?
In order to save time, improve performance, and make your projects bigger, automatic buying is a great tool. But it’s very important to know what you want to achieve, pick the right approach, and keep a close eye on how things are going.
Will automatic bids take the place of human knowledge?
Certainly not. AI adds to what humans can do. It’s great at analyzing data and making changes in real time, but people are still needed for strategy planning, campaign tracking, and adjusting to new market trends.
What are the risks of letting AI bid for you?
Some risks could happen with any kind of technology. When plans are set up wrong, they can cause people to spend too much or miss out on chances. Make sure you fully understand the plan you’ve chosen and set realistic budgets.
What do I need to do to start automatic bidding?
A lot of advertising sites have automatic buying tools built right in. Before going big, you should learn about different tactics, talk to people in the business, and try out smaller projects to build your confidence.
