As stated in this document, campaign experiments allow you to test Maximize conversion value (with an optional target ROAS) against your existing bid strategy. Experiments are the best way to test value based bidding, since they allow you to isolate your new value based strategy within the experiment (trial arm) and cleanly compare it against your campaign’s current bid strategy (control arm) while keeping all other variables constant. This helps ensure you’re measuring impact in a reliable way. 

This PDF takes you through three steps:

1. Setting up your value based bidding experiments – pick campaigns with the right seŵings for your value based bidding experiment,
2. Choose the correct experiment settings – Ensure it’s a “clean” test of one bid strategy against another,
3. Monitor and evaluate success – Choose the right success metrics for value based bidding  and follow the recommended experiment timeline.