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Anyone have experience with setting CPC according to lead value?

I'm thinking i need an AI.

7:28 am on Sep 23, 2019 (gmt 0)

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joined:Sept 2, 2019
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OK. So company I work for, finds people who want medical procedures, and promotes local surgeons and hospitals.

Factors I need to consider are.

Absolute Margin for treatment (eg 3000 eu)
% Margin (30% of overall price)
Treatment Type
Location of Patient(Travel distance, location of competing providers etc impacts conversions)

Assuming I can use this to even determine the value of a lead in a certain area and can also calculate actual demand for treatments at this lead value so I know how much traffic to expect...... how would I feed this back into GA to tell Google Ads to set the ideal CPC to achieve my sought after cost per lead of traffic that is going to convert at the rate I want?

We've been doing i manually to date, which of course is a waste of time.

8:03 pm on Sept 24, 2019 (gmt 0)

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votes: 92

Assign a business value to each type of lead, then use that "revenue" to guide your bidding.
You can do this in Analytics, or with a Google Ads script, so the details of how are different for each path here.

Guide your bidding can mean several thing as well... one example, use Enhanced CPC bidding to aim for a ROAS outcome... another example, use Target ROAS Bidding... many methods are possible once you track revenue (whether the revenue is actual dollars sold, or transactions with an assigned biz value.

In Analytics you can use Goals too, and assign them a biz value.

Within Google Ads, when you import Transactions / Goals from Analytics, in the Conversion Module, you can also customize your attached biz value there as well.

When you use Analytics, attribution is subject to changes from other channels, like if you started using coupons actively, it could change how your PPC "conversions" are tracked.
For this reason, it's often best to not import Analytics Goals or Transactions, but rather use a Google Ads script.

One added benefit of using the silo'd Google Ads script... you now have two ways to study the impact of your PPC, as a stand alone channel in Google Ads, and as one of multiple channels in Analytics.

If you do decide to use Analytics and import Goals with assigned biz values (your post indicated so), here's the help file: