There are twelve types of bidding strategies available divided into two main categories of Manual & Automatic.
If you select manual, you have to do all the settings yourself, in case of automatic, Google takes care of everything for you. Automatic generally have lots of options available.
Target CPA (Cost per Acquisition)
It lets you get as many conversions as you can get according to the set amount in the target CPA field. It can be calculated as Cost/ Number of Conversions.
Target ROAS (Return on Ad Spend)
It lets you bid based on a target return on ad spend and get more conversion revenue/value according to that set limit.
It can be calculated as Revenue/ Cost.
It helps you get the most conversions for your campaign within your specified budget.
You can use this one with the manual bidding. It automatically adjusts your manual bidding to get the most conversions for your campaign.
The simplest way of bidding for clicks. It lets you get most clicks possible within your budget.
Target Search Page Location
It makes sure that your ad appears either on the top of the search page or on the first page of search results.
Target Outranking Share
It lets you outrank your specific competitor on search.
Your ad will be displayed either above their ad, or your ad will be shown when their ad is not showing. However, you can target only one competitor at a time.
You pay according to the times your ad is shown on Google Display Network.
It’s only for video ads.
In this case, you’ll pay for video views and video interactions. Video interactions mean getting any click on your call-to-action buttons.
Target Impression Share
The goal is to show your ads: on the absolute top of the page, on the top of the page, or anywhere on the page of Google search results.
Moreover, If you select 50% as its value for on the absolute top of the page, that means that 50% of the time your ad will be on the absolute top of the page.
vCPM (Cost-per-thousand viewable impression)
You have to pay only when your ad is measured as viewable by Active View, which is just a technology that Youtube & Google Display uses to determine whether an ad is viewed or not.
Still not sure which bidding strategy to use, feel free to drop us a message and we will make it easier for you.