3 Ways Large Businesses Can Maximize ROI with Google Ads

If you’re a large business, you already know you need to be advertising on Google Ads.

You likely have a number of campaigns running, and you’re in the weeds daily optimizing them for stronger performance.

When it comes to return on investment (ROI), though, it’s the advanced Google Ads strategies that truly set a business apart from its competitors.

Below, we’ll explore how large businesses can leverage Smart Bidding, audience segmentation, and cross-channel optimization to maximize their ROI with Google Ads. Let’s dig in.

Sections

1. Smart Bidding: Harnessing the power of machine learning for better ROI

Also called auction-time bidding, Smart Bidding is a set of automated bidding strategies that use Google AI and machine learning to optimize for conversions or conversion value in each auction.

In layman’s terms, every time a user encounters your ad, that bid has been personalized for that exact user, based on their likelihood of conversion.

For large businesses managing extensive campaigns, Smart Bidding can be a game-changer.

Benefits of Smart Bidding

Efficiency: Smart Bidding automates bid management, freeing up time for strategic planning.
Precision: Smart Bidding utilizes vast amounts of data to make informed bidding decisions on your behalf.
Performance: Best of all, Google Ads Smart Bidding strategies continuously learn and adapt to improve your ad performance over time.

How to implement Smart Bidding

To maximize ROI, consider the best advanced bidding strategy for your goals. For example, “Target CPA” (Cost Per Acquisition) is ideal for businesses focused on acquiring new customers at a specific cost, while “Target ROAS” (Return on Ad Spend) is suited for maximizing revenue relative to ad spend.

Large businesses should start with a pilot campaign, monitor performance closely, and gradually expand Smart Bidding to their other campaigns.

Regularly review your bid strategies and performance metrics to ensure they’re performing at their best and align with your business goals.

2. Audience segmentation: Reaching the right people with your ads

Audience segmentation allows large businesses to target specific groups of people based on various criteria. This can range from simple (basic demographic data) to sophisticated (loyal customers with a high lifetime value).

The point of using audience segments is to ensure your ads reach the most relevant audience, boosting ROI.

Benefits of audience segmentation

Relevance: Audience segmentation delivers more personalized ads to relevant users.
Efficiency: Segmenting your audiences helps you focus on high-potential customers, reducing wasted ad spend.
Insights: Using audience segmentation provides valuable data on audience behavior and preferences, which you can use to further improve your campaigns moving forward.

How to implement audience segmentation

To effectively segment audiences for maximum ROI in Google Ads, large businesses should:

Define their segments: Create detailed audience segments based on demographics, interests, behaviors, and purchase history.
Use audience insights: Google Ads’ audience insights can help you better understand the characteristics and behaviors of your best customers.
Create custom audiences: With custom affinity and in-market audiences, you can target users who are most likely to be interested in your products or services.
Use remarketing lists: Google’s remarketing lists for Search ads (RLSA) can re-engage past visitors with tailored ads, based on their previous interactions with your brand

By focusing on high-value segments and better personalizing the content of your ads, large businesses can increase engagement and conversion rates, leading to a higher ROI with Google Ads.

3. Cross-channel optimization: Integrating your marketing efforts

Cross-channel optimization involves integrating and aligning your marketing efforts across multiple channels to create a cohesive and effective strategy.

Benefits of cross-channel optimization

Consistency: This approach establishes a consistent brand message across all channels, increasing brand familiarity and affinity.
Synergy: By taking advantage of their strengths, you can maximize the impact of each channel, resulting in a higher ROI for your Google Ads campaigns.
Efficiency: Cross-channel optimization improves resource allocation and reduces overlap, preventing wasted spend.

How to implement cross-channel optimization

To achieve cross-channel optimization, large businesses should:

Align on goals: Connect with your broader marketing team. All marketing channels should be working towards the same business goals.
Integrate their data: Tools like Google Analytics and Google Marketing Platform can integrate data from different services, giving you a comprehensive view of performance across marketing channels.
Coordinate campaigns: Plan and execute campaigns that lean into the strengths of each channel. For example, you can use display ads for brand awareness and search ads for capturing high-intent users.
Measure performance: Continuously measure and analyze the performance of each channel and their contribution to overall ROI.

By adopting a holistic approach, large businesses can enhance the effectiveness of their Google Ads campaigns and maximize their ROI.