Within the Search Excellence framework, what's the core philosophy behind shifting to demand-led budgets?

The core philosophy behind shifting to demand-led budgets within the Search Excellence framework is to ensure that growth is limited only by efficiency goals, not by a fixed spend cap. This approach allows campaigns to scale spending dynamically when demand is high and performance targets (like ROAS or CPA) are being met, maximizing profitable growth opportunities. Incorrect options: Using budgets to manually override Smart Bidding targets goes against the automation and optimization principles of Smart Bidding. Spending the full budget every day regardless of performance is inefficient and can lead to wasted spend when demand is low or performance is poor. Prioritizing brand awareness over conversion volume is a different strategic objective, not the core philosophy of demand-led budgeting, which typically focuses on performance metrics.