The last week of May has approached quickly and it’s time for another Digital Marketing roundup. Learn about Google’s new ‘Smart Bidding’ option, the new Facebook feature which links Instagram ads to Messenger and the GDPR.
New Smart Bidding Option Aims To Increase Conversion Volume
Google’s newest Smart Bidding option is aiming to increase conversion volume and spend a campaign’s daily budget in pursuit of that goal. The latest feature is learning to adjust bids tailored for every auction. The algorithm takes a number of factors into account, such as the bid strategy. From their announcement they said:
Maximize conversions will help you get the most number of sales from your exisiting budget by factoring signlars like remarketing lists, time of day, browser and operating systems into bids
This will take historical performance into account, unlike target ROAS or Target CPA bid strategies, Maximise Conversions is mainly concerned with conversion volume rather than return on investment goals. The daily budget will be spent in order to achieve this.
Keep in mind
- AdWords conversion tracking will need to be set up
- The campaign must have its own budget, not share a budget with any other campaigns
- Maximize conversions will stay within the set budget but will aim to meet that daily budget. If a campaign is currently under-spending, expect to see spending increase when switching to Maximize Conversions.
To learn more read about it on Search Engine Land.
Facebook Add New Feature To Link Instagram Adverts To Messenger
Over the past few months, we’ve been seeing Facebook place more and more emphasis on their Messenger platform; particularly its business applications for both lead generation and customer service. This emphasis has now been coupled with the increased advertising on their photo and video sharing app: Instagram.
Facebook have now added a feature to Instagram’s advertising that lets marketers link directly to their page’s messenger account, allowing potential customers to instantly start a conversation; somewhat similar to email marketing. While advertisers could already do this, these new changes allow links to specific messaging threads to be placed into an advert.
While a conversation in Messenger is unlikely to entice people to buy right off the bat, for lead generation businesses this first contact on a platform the customer is comfortable with could potentially be invaluable. A perfect application of this could be for a local business who show off their work on Instagram, advertise their services to people within the local area, then provide quotes to potential customers who may enquire how much a previous job in their portfolio had cost.
17% Of Businesses Would Go Under If Hit With GDPR Fines
That’s right, we’re talking about GDPR once again! We’re not taking it lightly and neither should you! In a recent poll by YouGov, it was found that out of 187 marketing and advertising companies, 17% would very likely be forced out of business if they incur the massive fines by falling foul of the strict regulations. And, now, 70% of these businesses wouldn’t even be sure of their ability to even detect a data breach!
May 2018 seems like a long way away yet, but it will creep up ridiculously fast – just think about how quick Christmas comes around every year! That’s why we’re committed to providing you with our advice on how to get ready for GDPR as early as possible, and the steps to take going towards this. Check out our recent blogs on What GDPR Means For Digital Marketing and the first steps to making a GDPR Checklist.