Google announced that soon you will be able to have more flexible bidding methods for your keywords and campaigns. Google is calling this flexible bid strategies and it is coming in the next couple weeks to those who've upgraded to enhanced campaigns.
This will allow advertisers to have automated bidding in one part of the campaign while manually bidding on other keywords in the same campaign. It will also allow to apply a single bid strategy to some keywords that are in different campaigns.
Here is how it works:
Flexible bid strategy
What it does
When to use it
Target search page location
(new bid strategy)
Automatically tries to get your ads to the top of the page, or onto the first page of search results
+ When you want more visibility on the first page of Google Search results or in the top positions
(flexible version of Automatic Bidding)
Automatically sets bids to get you the most clicks, within a target spend amount that you choose
+ When site visits are your primary goal
+ When you want to maximize traffic on long tail terms and keep to a certain spend
(flexible version of Conversion Optimizer)
Automatically sets bids to get you as many conversions as possible while reaching your target average CPA goal
+ When you want to get the most conversions at your target CPA
(flexible version of Enhanced CPC)
Automatically adjusts your manual bid up or down based on each click’s likelihood to result in a conversion
+ When conversions are the main objective, but you also want control over keyword bids
Forum discussion at Google+.