I am considering changing the Bid Strategy of a long running Adwords/ppcall campaign from "manual bid for clicks" to "Enable Enhanced CPC - Use my conversion tracking data and bids to optimize for my current conversion bid metric setting: Converted clicks." My "Converted click" is equal to a 2:00 duration phone call.
Anyone have experience with this bid strategy? Thoughts?
Enabling Enhanced CPC can be good, if your conversion loss between AdWords / Advertiser is less than 10%. Otherwise the data will not be significant.
From my experience, it doesn't affect my CPC / conversions. I've a few low conversions campaigns (high paying). Love to get some data if you run it with a campaign with a lot of conversions a day.
I think it's really important to get a significant amount of data first, to ensure that enhanced CPC's can actually help you bid up for clicks that are more likely to lead to conversions.
Otherwise, I think you're just helping Google out by paying a little more.
Mike
If you have a consistent conversion rate, then you can also try "Target CPA". Google will try to achieve a target cost-per-acquisition (whatever your conversion metric is). This gets really close to being hands off when it comes to bidding.
https://support.google.com/adwords/answer/2472713?hl=en
Thanks guys. Turns out, I'm not yet comfortable taking my hands off the steering wheel (yet). I still feel like I have a lot of optimizing to do and would rather go manual until I test and tweak at least 50% of my active KWs.