As an advertiser how do you get to know how much money you’re making from your ad spent or ROAS (return on ad spent)? Advertising campaigns sometimes become unmanageable if right strategy is not used or implemented properly. Advertisers use various tools to check their campaign performance one such tool is Google Ads. Google ads is a platform where advertisers pay to display their products and services. However, the good thing about this tool is that recently Google Ads has introduced a new target ROAS bid simulator for advertisers to know the performance of their campaign and how they can manage it efficiently with bid simulator.
Isn’t it an interesting tool introduced by Google Ads? Do you wanna know more about it? Yes, then make sure you read the full article as this article is going to be very detailed for you.
Google has introduced a new bid simulator, The target ROAS!
Last month, Google Ads introduced a new bid simulator, the target ROAS (return on ad spent) bid simulator. This new tool lets you know how budget and goal changes can impact smart bidding. The target ROAS bid simulator shows the relationship between a ROAS targets and your key metrics. The key metrics it shows is your conversion value.
This bid simulator introduced as a big support available for a smart bidding campaigns for the first time. Earlier, bid simulators have been available for campaigns using manual bidding or Target ROAS.
Let’s read what Google explains about bid simulator: let’s say you’re interested in seeing how a higher target would impact your performance. Using data from the auctions you participated in over the last 7 days, this tool will show you what would have happened assuming everything else (e.g., your ads, landing pages, competitor ads, competitor bids etc.) stayed the same.
How target ROAS bid simulator helps advertisers?
It is a fact that target ROAS bid simulator helps advertisers in many ways:
The target ROAS bid simulator helps advertisers find the right target ROAS to better achieve their advertising goals by looking at the relationship between a ROAS target and their key metrics. Furthermore, the tool will take data from auctions during the last seven days, and will also display what impact a higher target would have and assumes everything else remains the same. It also helps advertisers understand their potential performance at various ad levels.
Some of the benefits of using bid simulator
There are many benefits of using target ROAS bid simulator such as:
- Bid simulator allows advertisers to easily understand how the higher targets will impact their advertising campaign performance.
- The tool uses the data from the last 7 days to display as what will happen with a higher target if other things remain stagnant.
- With the help of this tool, advertisers can find the right target ROAS to better achieve their goals.
What else Google Ads offer to its users?
Like bid simulator, Google Ads has also introduced a new ‘budget simulator’ tool for advertisers to find their ideal budget to maximize their campaign performance. With budget simulator tool, you will get to know about the changes in your budget and how it impacted your campaign performance.
In this final note, I just want to say that both of these simulators aim to spend your entire budget in pursuit of escalate the number of clicks or conversions the campaign generate on a daily basis. Let me also tell you that target ROAS is available for Search and Shopping campaigns which ultimately help advertisers find the ideal budget allocation across their campaigns. However, the budget simulator will also show the changes in budget that have impacted the campaign performance before updating the budget using maximize clicks or maximize conversions.
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