It’s time for our weekly recap. Last week we heard about some new insight tools for automated bid strategies in AdWords, and Smart Goals, powered by Google Analytics, also available to use in AdWords.
Google Release New Insight Tools for AdWords Automated Bid Strategies
Last week Google announced some new tools on their blog. The first new tool is called status annotations. Previously, advertisers could see a basic bid strategy status which indicates whether the bid strategy is currently inactive, not limited (active) or learning, meaning AdWords needs to gather performance data before this bid strategy can be effectively implemented. The new annotations will give advertisers more information on the status. For example, if a bid strategy is still in “Learning” status because the advertiser recently created it or changed the composition of its campaigns, the annotation will display the estimated “days left for learning”. The advertiser then knows how long they should avoid making additional changes for.
Also released recently, is status over time reporting, which maps bid strategy statuses along the bottom of the performance graph. This helps explain what may be influencing bid strategy performance for your chosen date range. Similar to this, is target over time reporting, which maps your historical targets over performance data to provide better context.
Smart Goals Launched for Advertisers Who Cannot Track Conversions
Advertisers who lack the ability to track conversions on their website, whether that be because of technical limitations, or the fact that their website does not have a transaction function, face a challenge when it comes to optimising their digital advertising. Google recently released Smart Goals to help solve this problem. Smart Goals uses machine learning across thousands of websites that use Google Analytics and have opted in to share anonymized conversion data, to find traffic that is deemed more likely to convert, based on the information gathered from other websites. The model uses metrics like session duration, pages per session, location, device and browser. Google say “the easiest way to think about Smart Goals is that they reflect your website visits that our model indicates are most likely to lead to conversions.” It remains to be seen whether this will be effective for all advertisers. However, advertisers facing this specific challenge will surely be keen to test Smart Goals.