On July 30, Bing Ads announced that automated bidding strategies Target CPA and Maximize Conversions are now available for campaigns that target Australia, Canada, France, Germany, the United Kingdom or the United States. It has been more than a year since both of these strategies have been in testing.
The aim of Maximize Conversions is to generate as many conversions as possible using a campaign’s budget. There is an option that allows users to set a maximum CPC at the campaign level, although advertisers won’t set individual ad group or keyword bids.
For Target CPA, the aim is to generate conversions at the average cost per acquisition that the advertiser chooses to set at the campaign level. Advertisers who use this strategy will be able to set a maximum CPC for added bidding control. While using this strategy, advertisers won’t set or change ad group or keyword bids in a campaign.
In order to use either of these conversion-based bidding strategies, campaigns have to have at least 15 conversions within the last 30 days. Similar to all machine-powered automation, the more data there is to train and learn with, the better. Bing Ads recommends allowing the strategies to run at least two to three weeks for the system to learn and achieve the target goals.
A couple of unique features to call out:
- Bing Ads allows advertisers to use manual bidding on individual ad groups or keywords within a campaign set to use Target CPA or Maximize Conversions by choosing the Manual bid strategy type for the ad group or keyword.
- Advertisers can use bid modifier values between -90% and +900% with automated bidding to increase or decrease the click volume a campaign receives from the targeting option (device type, location, ad schedule or audience). A bid modifier value of -100% will still function as a way to opt out of the related targeting option. Bing notes that bid adjustments in campaigns using automated bidding do not change the CPA goal and “may cause your bids to go above your maximum CPC.”
A variety of signals are used by Bing to inform its bidding strategies, such as browsing activity, operating system, search queries and ad copy. The system even makes bid adjustments in real time based on the time of day and day of the week, along with user location and device type.