Google seems to be rolling out a new bidding option for Local Service Ads named Target cost-per-lead (tCPL) bidding. Target cost-per-lead (tCPL) bidding is a semi-automated smart bid strategy. You set your desired average cost per lead, and Local Services Ads automatically adjusts bids to aim for that target.
This was spotted by Anthony Higman who posted about it on X, saying this is an interesting bidding option. He shared this screenshot of the option:
Google explains how this new bidding option works:
Target CPL bidding automatically finds an optimal bid for your ad each time it's eligible to appear by using historical information about your campaign and evaluating the contextual signals that are present at Google Ads auction-time.Some conversions may cost more than your target and some may cost less, but altogether, Local Services Ads will try to keep your cost per lead close to the Target CPL that you set.
For example, if you choose a Target CPL of $10 USD, Local Services Ads will automatically set your bids to try to get you as many leads at $10 USD on average.
To use this, you need to go to your bidding modes, choose "Maximize Leads (Automated Bidding)”, then "Set a target cost per lead (optional)." You can use our recommended target or set your own. The target that you choose will determine the approximate average you'll pay for leads.
Forum discussion at X.
