Bing Ads first bid strategy, Enhanced CPC, has finally launched, and it’s aimed at automatically optimizing bids for conversions.
Enhanced CPC is being powered by machine learning that analyzes a number of signals that indicate whether a search is more likely to convert based on past conversions. “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,” according to the blog post. When Enhanced CPC is activated, you’ll be able to see more conversions at a lower CPA in your campaign.
The thing that this bid strategy relies on is Bing Ads’ Universal Event Tracking (UET) conversion tracking code. This means you’ll need to have this implemented to use Enhanced CPC and have sufficient conversion data recorded for the optimization to work. It’s even compatible with third-party bid management tools.
If you you set up a campaign to use Enhanced CPC, you’ll be able to choose to set ad groups and keywords to Manual CPC within that range.
There’s a new Bid strategy-type column is available in Bing Ads reporting. From within this bid column, you’ll see (enhanced) where the bid strategy is activated.