Google has quietly rolled out a new flexible bid strategy for AdWords.

The new feature, called ‘target outranking share’, lets advertisers choose to automatically bid to outrank their competition.

According to a source at Google, the new bid strategy out last week. It appears Google didn’t announce that the feature had launched.

An explanation of target outranking share has been added to AdWords Help’s ‘Using flexible bid strategies‘ page:

"Target outranking share automatically sets bids to help you outrank another domain's ads in search results."

To use the new bid strategy, advertisers must enter a domain they want to outrank, and specify the ‘target outranking share’ they wish to achieve. This is the percentage of auctions in which the advertiser would like to rank higher than their competitor.

Users can also choose to use bid automation or manual bids, set a maximum bid limit, and limit bids on keywords with a low Quality Score.

Google has been working on improving flexible bid strategies recently. On Tuesday, it announced the launch of better reporting features for the tools.

This feature, however, seems to have been launched with little to no fanfare.

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Oliver Pyper is senior online copywriter at ClickThrough Marketing. He writes on-page content, blogs, press releases and loads of other bits and pieces too numerous and brilliant to mention. He’s also responsible for Kate Bush: The Musical and a series of videos depicting a young man’s search for energy drinks in New York City. Drop him a line if you want to talk content solutions or Kate Bush.