Google Ads offers several bid strategies that are tailored to different types of campaigns.

Depending on which networks your campaign is targeting, and whether you want to focus on getting clicks, impressions, conversions, or views you can determine which strategy is best for you.

CPC

If your main goal is to have people visit your website, then clicks are a good place to start. Using cost-per-click (CPC) bidding, you'll pay only when someone actually clicks on your ad and comes to your site.

Maximize Conversions

Using historical information about your campaign and evaluating the contextual signals present at auction-time, Maximize conversions bidding automatically finds an optimal bid for your ad each time it's eligible to appear. It uses advanced machine learning to automatically optimize bids and offers auction-time bidding capabilities that tailor bids for each and every auction to help get the cheapest conversions available for your budget.

CPA

With this advanced bidding method, you tell Google Ads the amount you're willing to pay for a conversion, or cost per action (CPA). A conversion (sometimes called an acquisition) is a particular action you want to see on your website. Often that's a sale, but it could be an email sign-up or some other action. You pay for each click, but Google Ads will automatically set your bids for you to try to get you as many conversions as possible at the cost per action you specified.

To use CPA bidding you must have conversion tracking turned on, among other things, so CPA bidding is suited for intermediate and advanced Google Ads users.

CPV

If your main goal is to evaluate how engaged viewers are with your video content, where they choose to watch your videos, and when they drop off from watching your content, you'll use cost-per-view (CPV) bidding. With CPV bidding, you'll pay for video views and other video interactions, such as clicks on the calls-to-action overlay (CTAs), cards, and companion banners.

To set a CPV bid, you enter the highest price you want to pay for a view while setting up your TrueView video campaign. Your bid is called your maximum CPV bid, or simply "max CPV." This bid applies at the campaign level, but you can also set a CPV bid per ad format.

You can review and check this article on how to determine a bid strategy based on your goals to further help you.