A new feature at Google AdWords has just been released globally, and will be known as "preferred cost bidding" or "preferred CPC bids". This new feature allows advertisers to specify the average cost per click or CPM (cost per thousand impressions) they want to pay within their AdWords campaigns.
Google says the feature was added in response to "advertiser demand for greater control over how they manage their bids and costs", and expects that advertisers will be better able to maximize ROI.
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