Mastering Maximize Conversion Value Bidding Strategy

Regina: 00:00:11

Hi everyone, Regina here with Starter PPC.

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Have you ever used the bidding strategy

called maximize conversion value and

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then been very confused when you find

that the campaign just stops spending?

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This happens to us all the time.

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I wanted to show you guys an example of

it and just talk about it a little bit.

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Here I have one of our client

accounts pulled up and I've

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filtered by just the main campaign.

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The main campaign is a

PMAX feed only campaign.

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So this means it's performance

max, but instead of giving it.

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Ad copy lifestyle images, videos,

everything that it needs to be

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a full performance max campaign.

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All we did is we gave it the product feed.

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That's what we mean by feed only.

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So all it can do really is shopping

ads and it can do that either

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outbound or remarketing, right?

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So it can do it on the shopping

network using images of the product

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and the product titles, to create

ads on the shopping network.

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Or it can do the same thing on the

display network is hopefully it's

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doing mostly remarketing display cause

outbound display tends to be a waste

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of money at this ad spend where we

only work with clients that have 5,

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000 or less in ad spend per month.

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it can take the product feed and it

can follow people around the internet.

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Showing them shopping ads because

it still has images of every

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product and product titles, but

that's all it has to work with.

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And the reason why we do this, side note

before I go back to the bidding strategy

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is because we have many campaigns in this

account and I'm only showing one of them

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right now, but the feed only campaign

is a way that we can push more money.

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into just the shopping network

and then have other campaigns to

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feed this as our main campaign.

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So this is the bottom of the funnel.

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It's going to show just

the shopping ads, right?

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So we're restricting PMAX's ability

to waste money on other things because

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we have other campaigns where we've

restricted the budget to do those.

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Non shopping activities

in those campaigns.

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Okay.

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So in this campaign, what we did

is here on July 1st, we changed the

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bid strategy to maximize conversion

value for the PMAX campaign.

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So it was spending just fine before that.

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I'm not even sure what bid

strategy it was using before that.

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We would have to go and look,

but it was spending just fine.

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We changed it and you can see

that it spends for two more

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days and then it just dies.

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Literally doesn't spend a dollar.

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, Okay, so that was like a week.

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July, it didn't spend anything

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

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

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On the 12th, we change it

to maximize conversions.

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

4, 5 days after that and it doesn't

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start spending until day six.

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So I wanted to show this to you

guys because I'm sure that this

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is happening to some of you.

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It's very baffling when it does.

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There doesn't seem to be a rhyme

or reason around why it happens.

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Sometimes you switch to

maximize conversion value.

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And the campaign just spends just fine.

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Oftentimes we find if we switch to

maximize conversion value and it does

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keep spending, it tends to be a

better bidding strategy than maximize

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conversions, meaning the algorithm can

usually get us a higher return when

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we're able to use that bidding strategy.

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

to use it or not until we try it.

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There's no sign on whether

or not it's going to work.

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So sometimes we switch just

to see if it's going to die.

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if the budget is going to stop spending

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

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And if it does, we just

have to switch it back.

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And then unfortunately, even after

you switch it back, it just takes.

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Many days for the algorithm to

sometimes to change its mindset.

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It's a very strange phenomenon.

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Google support doesn't

know why that happens.

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And there's really not much

you can do other than brace

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for impact and give it a try.

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And each time you make a change,

you need to wait several days

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before making another change, right?

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Because as you can see, it takes days

for the algorithm to go, Oh, actually

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that big charge is not going to work.

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And then days for it to go, Oh,

actually now we're on a new bidding

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strategy and start to spend again.

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Hi there.

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Okay.

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Back to the video.

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Very frustrating.

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You guys.

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I wanted to share it with you so

we can co miserate together you're

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not the only one it's happening to.

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And I would encourage you all to just

give maximize conversion value a try.

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Don't give it a try right away.

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Okay.

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You want probably at a

minimum 45 days worth of data.

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And you want, Consistent data, meaning

conversions every day, ideally,

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or every few days, so don't switch

to maximize conversion value until

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you're at that point, because one

thing I know for sure is that if you

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start out with maximized conversion

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

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It's probably not going to

spend it all from day one.

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You don't want to try it

until you think it's ready.

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And what that means is it has

to have enough data, right?

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Because how can you tell the algorithm,

Hey, I want you to maximize my conversion

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value when it doesn't have any data

around what type of click to what type

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of person in what type of placement

on what type of network with what type

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of ad copy and combination of assets.

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Is going to actually bring

conversion value, right?

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it's literally just in the baby stages

of converting and it could be here that

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we tried it too soon on this campaign.

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Let me go back in time and see, was

it running for months before that?

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Okay.

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So This campaign had been

running since April 11th.

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So we figured that was plenty of time.

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We gave it a try.

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It didn't work.

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We switched it back.

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We'll probably give it a try

again someday, maybe in another.

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60 days, but for now this campaign is

doing pretty well, it's getting a pretty

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high return, which makes sense because

it's our, bottom of the funnel campaign.

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It gets attributed many clicks in

the last few days of the users.

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Sales cycle, right?

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if it's a bottom of the sales funnel

campaign, what I mean by that is if

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someone's going to click on three ads

and then convert, this campaign tends

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to be the last campaign or one of the

last campaigns that they click on.

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Actually, that's not even

necessarily true because it does

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do like outbound shopping network.

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So honestly, I don't know why

this campaign tends to be just

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good at attributing sales.

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I think that.

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Google likes to attribute

conversions to P max performance max.

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To be honest, I think it's

a little biased, right?

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in our conversion attribution settings

up here in tools and settings, we

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always use data driven attribution

nowadays, which leaves it up to the

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algorithm to decide what percent

of each conversion to attribute to

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what campaign or what ad, right?

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So if the user clicked on three ads,

is it going to give all of it to the

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first click all of it to the last click?

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Is it going to divide it evenly?

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What's it going to do?

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It's up to the algorithm and we have

no visibility when we use data driven.

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All I know is that.

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PMAX feed only campaigns

tend to get high return.

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They tend to show a high return.

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So we know they're working.

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So we don't have to worry too much.

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Maximize conversions seems

to be working just fine.

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Let's look at the last.

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week or two.

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Almost 300 percent return.

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So we're golden over here.

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I just wanted to make this quick

video to show you guys how maximize

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conversion value can really trip you up.

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You're not doing anything wrong.

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You just have to try it and see

there's no formula, unfortunately.

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But if you can get it to work, it does

tend to be the best bidding strategy.

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definitely worth giving

it a try at some point.

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All right.

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Best of luck to you.

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If you liked this video, don't

forget to hit the subscribe

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button and the like button.

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Thanks.