Google's new algorithm is just robbing me
I’ve been running a campaign for years. It has a daily budget that typically leaves a little headroom, with around 5% of impressions lost due to budget. It uses Target CPA bidding.
Until today, the average CPC was around $2, and the highest bid it had ever placed was $5.
This morning, it's paying up to $20 per click, which is above the target CPA. Across six clicks, the average CPC is $6.27, higher than the previous highest bid.
Nothing in the account has changed.
The new algorithm is bidding ridiculous amounts, and I don’t know how to stop it short of pausing the campaign. How can it bid more than 100% of the target CPA when it knows the conversion rate for that keyword may only be 10–20%.
Is there any way to cap the bids or bring them under control?