Google is rolling out a new Conversions for Optimization setting in AdWords over the next couple of weeks that isolates a conversion action for reporting and bid automation.
With the Conversions for Optimization setting enabled, you’ll now be able to set bid strategies for specific conversion actions.
Optimizing Google ads is another way of saying you are improving the relevancy of your campaigns. This requires understanding how your ads connect to what your potential customers are searching for and how your messaging is carried through your campaigns—from click to conversion.
With the Conversions for Optimization setting enabled, brands can set bid strategies for specific conversion actions.
For example, if you’re tracking content downloads and sign-ups, you can set up bid strategies to optimize only for the higher value sign-up conversions.
The new reporting columns that come with this change are applicable and can be used with nearly any bid strategy, including Target ROAS and Enhanced CPC.
When the “Optimization” conversion setting is enabled in a campaign, New Conversions Optimization columns show performance for the optimized conversion type, even if you are bidding manually. Essentially, you can isolate the conversion data for the conversion type that is most important to you in the reporting even without having to use bid strategies.
What Does This Mean For Brands?
Acronym’s, SVP, SEO, Winston Burton, offered his perspective.
“This is great news for paid search practitioners.
By default, the Google Ads system will optimize toward any conversion. An advertiser will likely have multiple on-site actions that are valuable to the business (product view, add to cart, email signup, sale, etc.). But, each operates at differing values; this leaves the advertiser in a position of trying to manually match different conversion types to ad delivery data, applying estimated values to conversion actions to hack the ROAS bidding system, and overall, not as accurate as they could be. After all, the behavior that leads to an email signup is likely not the same as that which leads to a completed sale.”
Now, brands can optimize their bidding strategies based on the desired conversion metric as the “Conversions column” will show the total number of conversions accrued.
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