Bing Ads has launched its first bid strategy, Enhanced CPC, aimed at automatically optimizing bids for conversions.
Enhanced CPC is powered by machine learning that analyzes various signals that indicate whether a searcher is more likely to convert based on past conversions. “When you enable Enhanced CPC for your campaign, Bing Ads will automatically adjust your bids in real time so that you bid up to 30% higher on users that are more likely to convert and bid up to 100% less on users less likely to convert,” according to the blog post. Bing Ads says that with Enhanced CPC activated, you should see more conversions at a lower CPA in your campaigns.
The bid strategy relies on Bing Ads’ Universal Event Tracking (UET) conversion tracking code, so you’ll need to have that implemented to use Enhanced CPC and have sufficient conversion data recorded for the optimization to work. It is compatible with third-party bid management tools.
If you set a campaign to use Enhanced CPC, you can still choose to set ad groups and keywords to Manual CPC within that campaign.
A new Bid strategy-type column is available in Bing Ads reporting. In the bid column, you’ll see (enhanced) where the bid strategy is activated.