AdWords Preferred Cost Bidding
AdWords recently introduced a new bidding option called preferred cost bidding. This feature is designed to help advertisers save time while reaching their advertising budget goals more consistently.
Read more about Preferred Cost Bidding
Google says: Instead of setting a maximum cost-per-click (CPC) or cost-per-impression (CPM) bid, you can set a preferred CPC or CPM bid that represents the average price you want to pay.
For example, suppose you want to pay an average CPC of $0.50. Currently, you need to regularly monitor and adjust your maximum CPC bids to keep your costs at or around $0.50 per click. Using preferred cost bidding, you can simply tell us that you want your average CPC to be $0.50, and we’ll manage your bids to reach that goal.
This addition appears to reduce the amount of time needed to monitor ads to be sure that the results are achieved without going over budget, however, once a campaign is setup and optimized overtime the same affect can be achieved naturally. The future will tell us the value this feature.
For more information on preferred cost bidding. Read Here.
