In an official blogpost, Google AdWords has announced launching a new Smart Bidding Strategy that will set the right bid for each auction automatically to get the maximum conversions without exceeding the daily budget.
Setting up Maximize Conversions is easy. Go to your campaign’s setting page, click “Change Bid Strategy” and select Maximize Conversions. Advertisers can test Maximize Conversions, get insights and monitor their bid strategies to understand the performance.
“if you’re a clothing retailer trying to quickly sell last season’s styles, Maximize Conversions will help you get you the most number of sales from your existing budget by factoring signals like remarketing lists, time of day, browser and operating system into bids. Smart Bidding uses Google’s machine learning technology to optimize for conversions across every ad auction—also known as “auction-time bidding”.”