A digital marketer has upgraded their Smart Bidding strategy to value-based bidding. Which two Google Ads tools should they use regularly? (Choose two.)

Analysis of Correct Answer(s)

• Bid strategy report: This report is indispensable for marketers using automated bidding strategies like value-based bidding. It provides detailed insights into how the strategy is performing against its goals (e.g., maximizing conversion value, achieving a target ROAS), its status, and historical data. Regularly reviewing it allows you to understand the strategy's effectiveness, identify trends, and make informed decisions for optimization.
• Performance Planner: This tool is crucial for forecasting and planning. For value-based bidding, it enables marketers to predict how changes to bids, budgets, or target ROAS might impact future campaign performance, especially in terms of conversion value and overall return on ad spend. It helps in proactively planning to maximize value and achieve business objectives within budget constraints.

Analysis of Incorrect Options

• Ad strength rating: While important for creating effective and high-quality Responsive Search Ads (RSAs), the Ad strength rating primarily focuses on the relevance, diversity, and usefulness of your ad creatives (headlines, descriptions). It does not directly provide insights into or help manage the performance of a value-based bidding strategy.
• Keyword planner: The Keyword Planner is a fundamental tool for keyword research, discovery, and forecasting search volume and bid estimates during the campaign setup or expansion phase. However, once a campaign is running with a value-based bidding strategy, this tool is not used regularly to monitor or optimize the bidding strategy itself. Its primary function is upstream in the campaign planning process, not ongoing bid strategy management.