Having the highest bid is the goal for winning an auction, but there are many other strategies that depend on search terms, property type, income goals and many other factors.
In general, higher offers are likely to attract more traffic, while lower offers will receive fewer clicks and conversions.
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The main objective of a hotel is to gain clicks or generate traffic on the website, so there are two types of cost-per-click strategies:
Maximize clicks
This is the simplest automated bidding strategy, which consists only of establishing a daily budget. Google will do the rest.
Manual Auction at the CPC
This is a cost-per-click campaign that you manage yourself. You do all the analysis and data mining to determine which keywords and placements are most profitable.
In addition, there are three other types of bidding strategies that are not click-oriented:
Smart Bidding Strategies
These strategies have different objectives and are not charged in the same way. Target CPA (cost per share), Target ROAS (return on advertising spend), Maximize conversions, Maximize conversion value, Optimized CPC (eCPC)
The "Print First" Strategies
This strategy is suitable for brands that want to be seen: Target location on search page, Target upgrade rate, Cost per thousand impressions (CPM), Cost per thousand visible impressions (vCPM)
The "prioritize views or interactions" strategies
Finally, this strategy is suitable for video ads only, called CPV or cost per view.
The bidding process can be complicated, but you control your budget, you know where the money goes and you can adjust it to suit your needs. Plus, you can specify your target demographic so precisely that your bids will never be wasted on the wrong customers. Be where your customers are: Google Hotel ads are very profitable: in 2017, the average return on advertising spend was 10X.