The move lets advertisers place one bid for ads that run on content sites and a separate bid for ads that run on search sites within the Google Network.

Advertisers will have greater control in maximizing return on investment from search campaigns as previously the single keyword bid placed by advertisers was applied to their ads on both search and content pages.

Advertisers are now able to place a bid for their content campaigns and Google said smart pricing will reduce the cost the advertiser pays if the cost is still too high relative to the value it brings the advertiser.

If you find that you receive better business leads or a higher ROI from ads on content sites than on search sites (or vice versa), you can now bid more for one kind of site and less for the other. Content bids let you set the prices that are best for your own business, explained a company spokesman.

It added that content bidding does not affect the way AdWords ranks ads or how it selects ads that run on content pages. AdWords will continue to rank ads by using a combination of Quality Score and maximum cost-per-click (CPC). Content bidding is integrated into the existing AdWords campaign management interface and is available to all advertisers globally.

This feature does not affect the site-targeting feature, which is the tool that allows advertisers to target specific content sites in the Google network with text and/or image ads.