Are you utilizing conversion value rules to enhance the performance of your marketing campaigns?
For those unfamiliar with the concept, let’s briefly explore what conversion values entail.
Conversion value rules enable the adjustment of conversion values to more accurately reflect their importance to your business, based on factors such as location, device type, and customer characteristics.
By implementing conversion value rules, value-based bidding strategies will take into consideration these rules during auctions, thereby influencing bid optimization. These rules are specifically designed to integrate with our bidding mechanisms at the time of auction.
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Let’s dive in…
If tracking dynamic conversion values poses a challenge, yet you have clear insights on certain audiences, geographic areas, or device types that hold higher value for your enterprise, leveraging conversion value rules can significantly enhance the representation of your campaigns’ effectiveness.
They act as an additional factor and indicator for campaigns employing value-driven bidding strategies like Maximize conversion value and return on ad spend (ROAS).
After configuration, the outcomes of your conversion value rules can be viewed in the conversion value column within your conversion actions table.
It’s important to note that only one conversion value rule is applicable per conversion action, necessitating the choice of the most impactful or precise rule, given that only a single option is available.
To emphasize, value rules are applicable exclusively to the following campaign types:
Performance max
Search
Shopping
Conversion value rules offer a powerful method to enhance the tracking of your return on ad spend (ROAS) for Google Ads campaigns. By progressively increasing the conversion value according to specific conditions, these rules can be tailored and modified at any time. They are structured to capitalize on both your insights into your customer base and Google’s advanced machine-learning capabilities, aiming to maximize the value derived from your account.
Previously, I detailed the setup process for value rules. For those interested, you can find that discussion here. This newsletter, however, shifts the focus towards assessing the potential impact of the value rules you’ve already implemented.
Conversion value rules will work for both optimization and reporting. The same adjusted value that is determined at bidding time will be used for reporting.
Here is what it looks like in the Google Ads interface:
Values will be adjusted across all campaigns, including those using manual or Target CPA or Maximize conversion value bidding. However, only value-based bidding strategies like Target ROAS bidding or Maximize conversion value (where supported) will automatically optimize to the new values.
Removing conversion value rules
Target ROAS and Maximize conversion value bidding will aim to drive as much conversion value as possible, taking into account any rules that remain currently active in an account. If you remove a conversion value rule our system will resume optimizing for your current definition of value.
Why should we consider implementing this?
The answer is straightforward – by employing conversion value rules, we are supplying Google’s smart bidding algorithms with more significant insights into what is truly important to us. Essentially, we are offering Google additional data to enhance optimization towards our value-based objectives.
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Bojan Bovan, Account Manager
With his extensive background in media buying for some of Inceptly's biggest clients, Bojan is known for his inquisitive mind and attention to detail. He keeps his hand on the pulse of new developments in direct-response advertising and enjoys finding ways to apply innovative strategies and techniques to keep our clients ahead of the curve.
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Book a free YouTube ad brainstorming session with us here: 👇
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