Artwork for podcast The Google Ads Podcast
Mastering Maximize Conversion Value Bidding Strategy
22nd December 2023 • The Google Ads Podcast • Solutions 8
00:00:00 00:09:09

Share Episode

Shownotes

Wondering why your campaign suddenly stops spending with Maximize Conversion Value Bidding Strategy? You’re not alone! Explore this perplexing challenge, understand it, know your options to to work around it.

Regina Bellows, executive director of StarterPPC, shares her experiences and insights into the mysterious behavior of the Maximize Conversion Value bidding, how it can abruptly stop your campaign's spending, and why Google support can't provide a clear answer. She also offers practical advice on when and how to use this bidding strategy effectively, helping you maximize your advertising efforts especially if you have a limited budget.


This episode is from StarterPPC’s YouTube channel, check it out if you want to maximize ad spend & achieve better results with a smaller budget:   

 / @starterppc  


Related video:

🎯 Maximize Conversion Value | Bidding Strategies Guide Part 3:   

 • 🎯 Maximize Conversion Value | Bidding...  


0:00 Cracking the Code: Mastering Maximize Conversion Value Bidding Strategy

2:29 Applying Maximize Conversion Value bidding

5:01 Need help scaling Google Ads with a limited budget? Let StarterPPC help you!

7:00 Don’t use the strategy until it’s “ready”



Need help with Google Ads? Get your FREE action plan here: https://sol8.com/ap/


💣 The Ultimate Guide to Google Ads for 2023:   

 • The Ultimate Guide to Google Ads for ...  


🔥 Get your copy of You vs. Google: The (Very) Unauthorized Guide to Google Ads

on Amazon here: https://www.amazon.com/dp/B0BWSNLNRN


This ULTIMATE GUIDE gives you EVERYTHING you need to know about how to set up, build and optimize your Google Ads Performance Max campaigns: https://sol8.com/performance-max/


💰 Have an ad budget that's less than $5,000/month? If so, check out our sister agency, StarterPPC, where you can get Google Ads management for a fraction of the cost!

Visit https://www.starterppc.com for more information. 🚀


We have dozens of free resources, courses, downloads, calculators, and other goodies. You can access all of them on our Free Stuff page!

Visit: https://sol8.com/free-stuff/


💯The Ultimate Guide to Google Ads for Lead Generation:

https://sol8.com/google-ads-lead-gene...

🛒 Everything you need to know about Google Ads for eCommerce:

https://sol8.com/google-ads-for-ecomm...

🧲 The only guide you’ll ever need for Google Ads for YouTube:

https://sol8.com/google-ads-for-youtube/


👉 Do you want to be featured on Daily Google News? Do you have epic value you can offer our audience? You can pitch your idea here: https://sol8.com/pitch/

--------------------------------------------------

👉 Get our latest content every Monday, straight to your inbox. Sign up for our news “Traffic Ahead”: https://sol8.com/newsletter/

--------------------------------------------------

Get the latest updates, expert tips, best practices, and PROVEN Google Ads strategies every single day. Subscribe here:   

 / @solutionseight  

--------------------------------------------------

👉 Want to become a Google Ads expert?

We’ve demystified how Google works, and laid out everything you need to know in Google Ads–from scratch!

Learn how to build, launch and manage high-performing Google Ads campaigns in this Google Ads Course: http://sol8.com/paid-traffic-mastery

--------------------------------------------------

Solutions 8 is a global authority in the Google Ads space and one of the world's leading PPC agencies.

Our YouTube channel is dedicated to sharing our most effective marketing strategies to help you achieve your business goals.

--------------------------------------------------

👉 WOULD LIKE TO SCALE AND GROW YOUR BUSINESS WITH PPC?

Sign up for a FREE Action Plan today: https://bit.ly/sol8-home


Connect with Kasim here: https://smartlink.metricool.com/publi...


⬇️️ You can find us here ⬇️️:

Website: https://sol8.com/

Twitter:  

 / solutions_8  

Instagram:  

 / solutions_8  

Facebook:  

 / solutions8llc  

LinkedIn:  

 / solutions-8  

#googleads #digitalmarketing #googleadsbestpractices #ppc

Transcripts

Regina:

Hi everyone, Regina here with Starter PPC.

2

:

Have you ever used the bidding strategy

called maximize conversion value and

3

:

then been very confused when you find

that the campaign just stops spending?

4

:

This happens to us all the time.

5

:

I wanted to show you guys an example of

it and just talk about it a little bit.

6

:

Here I have one of our client

accounts pulled up and I've

7

:

filtered by just the main campaign.

8

:

The main campaign is a

PMAX feed only campaign.

9

:

So this means it's performance

max, but instead of giving it.

10

:

Ad copy lifestyle images, videos,

everything that it needs to be

11

:

a full performance max campaign.

12

:

All we did is we gave it the product feed.

13

:

That's what we mean by feed only.

14

:

So all it can do really is shopping

ads and it can do that either

15

:

outbound or remarketing, right?

16

:

So it can do it on the shopping

network using images of the product

17

:

and the product titles, to create

ads on the shopping network.

18

:

Or it can do the same thing on the

display network is hopefully it's

19

:

doing mostly remarketing display cause

outbound display tends to be a waste

20

:

of money at this ad spend where we

only work with clients that have 5,

21

:

000 or less in ad spend per month.

22

:

it can take the product feed and it

can follow people around the internet.

23

:

Showing them shopping ads because

it still has images of every

24

:

product and product titles, but

that's all it has to work with.

25

:

And the reason why we do this, side note

before I go back to the bidding strategy

26

:

is because we have many campaigns in this

account and I'm only showing one of them

27

:

right now, but the feed only campaign

is a way that we can push more money.

28

:

into just the shopping network

and then have other campaigns to

29

:

feed this as our main campaign.

30

:

So this is the bottom of the funnel.

31

:

It's going to show just

the shopping ads, right?

32

:

So we're restricting PMAX's ability

to waste money on other things because

33

:

we have other campaigns where we've

restricted the budget to do those.

34

:

Non shopping activities

in those campaigns.

35

:

Okay.

36

:

So in this campaign, what we did

is here on July 1st, we changed the

37

:

bid strategy to maximize conversion

value for the PMAX campaign.

38

:

So it was spending just fine before that.

39

:

I'm not even sure what bid

strategy it was using before that.

40

:

We would have to go and look,

but it was spending just fine.

41

:

We changed it and you can see

that it spends for two more

42

:

days and then it just dies.

43

:

Literally doesn't spend a dollar.

44

:

, Okay, so that was like a week.

45

:

July, it didn't spend anything

on July 4th, 5th, 6th, 7th,

46

:

8th, 9th, 10th, 11th, 12th.

47

:

On the 12th, we change it

to maximize conversions.

48

:

And even still, it takes 1, 2, 3,

4, 5 days after that and it doesn't

49

:

start spending until day six.

50

:

So I wanted to show this to you

guys because I'm sure that this

51

:

is happening to some of you.

52

:

It's very baffling when it does.

53

:

There doesn't seem to be a rhyme

or reason around why it happens.

54

:

Sometimes you switch to

maximize conversion value.

55

:

And the campaign just spends just fine.

56

:

Oftentimes we find if we switch to

maximize conversion value and it does

57

:

keep spending, it tends to be a

better bidding strategy than maximize

58

:

conversions, meaning the algorithm can

usually get us a higher return when

59

:

we're able to use that bidding strategy.

60

:

But we don't know if we'll be able

to use it or not until we try it.

61

:

There's no sign on whether

or not it's going to work.

62

:

So sometimes we switch just

to see if it's going to die.

63

:

if the budget is going to stop spending

and we'll keep a very close eye on it.

64

:

And if it does, we just

have to switch it back.

65

:

And then unfortunately, even after

you switch it back, it just takes.

66

:

Many days for the algorithm to

sometimes to change its mindset.

67

:

It's a very strange phenomenon.

68

:

Google support doesn't

know why that happens.

69

:

And there's really not much

you can do other than brace

70

:

for impact and give it a try.

71

:

And each time you make a change,

you need to wait several days

72

:

before making another change, right?

73

:

Because as you can see, it takes days

for the algorithm to go, Oh, actually

74

:

that big charge is not going to work.

75

:

And then days for it to go, Oh,

actually now we're on a new bidding

76

:

strategy and start to spend again.

77

:

Hi there.

78

:

Quick interruption.

79

:

Do you know the main thing that

prevents small business owners from

80

:

getting their Google ads account

into a position to grow and scale?

81

:

Budget.

82

:

A lot of businesses, especially

those that are just starting

83

:

out have limited budgets.

84

:

And so because of this, they're turned

away by most ad agencies because most ad

85

:

agencies have minimum budget thresholds

that they're willing to work with.

86

:

So what happens is the business owners

end up learning Google ads themselves.

87

:

And the problem with that is

that most of the advice online is

88

:

geared towards larger accounts.

89

:

And the advice doesn't have any of those

strategies or tricks that can kickstart

90

:

the algorithm into giving a small

account a leg up over larger competitors.

91

:

So it often just doesn't work.

92

:

And the business just ends up

losing money month over month.

93

:

If this sounds familiar,

starter PPC can help.

94

:

We offer Google ads management services

that are designed for accounts that

95

:

have between 1000 and 5, 000 budgets.

96

:

Because all of our clients are just

starting out, we've come up with ways to

97

:

keep our management fees significantly

lower than most agencies, because

98

:

we know that every dollar saved on

management fees just goes towards

99

:

the ad budget, which is going to help

the algorithm gather speed and power.

100

:

So if you're serious about growing your

business and you'd like a team of Google

101

:

ads experts to help you without breaking

the bank, check us out at starterpbc.

102

:

com.

103

:

Okay.

104

:

Back to the video.

105

:

Very frustrating.

106

:

You guys.

107

:

I wanted to share it with you so

we can co miserate together you're

108

:

not the only one it's happening to.

109

:

And I would encourage you all to just

give maximize conversion value a try.

110

:

Don't give it a try right away.

111

:

Okay.

112

:

You want probably at a

minimum 45 days worth of data.

113

:

And you want, Consistent data, meaning

conversions every day, ideally,

114

:

or every few days, so don't switch

to maximize conversion value until

115

:

you're at that point, because one

thing I know for sure is that if you

116

:

start out with maximized conversion

value, it's not going to work at all.

117

:

It's probably not going to

spend it all from day one.

118

:

You don't want to try it

until you think it's ready.

119

:

And what that means is it has

to have enough data, right?

120

:

Because how can you tell the algorithm,

Hey, I want you to maximize my conversion

121

:

value when it doesn't have any data

around what type of click to what type

122

:

of person in what type of placement

on what type of network with what type

123

:

of ad copy and combination of assets.

124

:

Is going to actually bring

conversion value, right?

125

:

it's literally just in the baby stages

of converting and it could be here that

126

:

we tried it too soon on this campaign.

127

:

Let me go back in time and see, was

it running for months before that?

128

:

Okay.

129

:

So This campaign had been

running since April 11th.

130

:

So we figured that was plenty of time.

131

:

We gave it a try.

132

:

It didn't work.

133

:

We switched it back.

134

:

We'll probably give it a try

again someday, maybe in another.

135

:

60 days, but for now this campaign is

doing pretty well, it's getting a pretty

136

:

high return, which makes sense because

it's our, bottom of the funnel campaign.

137

:

It gets attributed many clicks in

the last few days of the users.

138

:

Sales cycle, right?

139

:

if it's a bottom of the sales funnel

campaign, what I mean by that is if

140

:

someone's going to click on three ads

and then convert, this campaign tends

141

:

to be the last campaign or one of the

last campaigns that they click on.

142

:

Actually, that's not even

necessarily true because it does

143

:

do like outbound shopping network.

144

:

So honestly, I don't know why

this campaign tends to be just

145

:

good at attributing sales.

146

:

I think that.

147

:

Google likes to attribute

conversions to P max performance max.

148

:

To be honest, I think it's

a little biased, right?

149

:

in our conversion attribution settings

up here in tools and settings, we

150

:

always use data driven attribution

nowadays, which leaves it up to the

151

:

algorithm to decide what percent

of each conversion to attribute to

152

:

what campaign or what ad, right?

153

:

So if the user clicked on three ads,

is it going to give all of it to the

154

:

first click all of it to the last click?

155

:

Is it going to divide it evenly?

156

:

What's it going to do?

157

:

It's up to the algorithm and we have

no visibility when we use data driven.

158

:

All I know is that.

159

:

PMAX feed only campaigns

tend to get high return.

160

:

They tend to show a high return.

161

:

So we know they're working.

162

:

So we don't have to worry too much.

163

:

Maximize conversions seems

to be working just fine.

164

:

Let's look at the last.

165

:

week or two.

166

:

Almost 300 percent return.

167

:

So we're golden over here.

168

:

I just wanted to make this quick

video to show you guys how maximize

169

:

conversion value can really trip you up.

170

:

You're not doing anything wrong.

171

:

You just have to try it and see

there's no formula, unfortunately.

172

:

But if you can get it to work, it does

tend to be the best bidding strategy.

173

:

definitely worth giving

it a try at some point.

174

:

All right.

175

:

Best of luck to you.

176

:

If you liked this video, don't

forget to hit the subscribe

177

:

button and the like button.

178

:

Thanks.

Links

Chapters

Video

More from YouTube