Not all conversions are worth the same, some are more valuable than others. Accurately expressing this value can help you optimize campaigns and evaluate performance based on the goals that matter most to your business. To make this easier, now you can adjust conversion values based on characteristics like location, device and audience.
By applying a rule to these characteristics, you can adjust conversion values to align more closely with your business outcomes. For example, let’s say you run a sporting goods store and know that an audience of people similar to repeat customers who have bought triathlon gear will be worth more to your business in the long run. Now, you can set a rule to multiply the conversion value for this specific group by a factor of two.
After the rule is applied, it will be reflected in the ‘Conversion value’ column in your account reporting. These rules will also be used by Maximize conversion value and Target ROAS to optimize your bids in real time. Conversion value rules will be available for Smart Bidding across Search, Shopping and Display over the next few weeks.