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Maximize conversion value is an automated bidding strategy under the search campaign that brings you the most value for any given budget.
Let’s say you set £50 as your daily budget for an ad. Google’s algorithm will optimise your bid (amount invested on individual keywords) to secure the highest sales on that budget.
This strategy is like target ROAS (return on ad spend), only you don’t set the value you want in return for ad spend (total cost for an ad campaign). Google does that by default.
Maximise conversion value is best suited for businesses with historical campaign data. This ad metric is great for sales conversion goals as your ad is adjusted in real-time to drive the most quality clicks for higher returns in sales.
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How to use maximise conversion
- On your ad campaign page, click sales
- Click the Search Network campaign
- Scroll down to bidding strategy
- Click on select bid strategy
- Click on select a bid strategy directly
- In the drop-down menu, select maximise conversion value
Things to be mindful of using maximise conversion value
You need to have run an ad campaign recently for at least one month with 30-50 sales conversions. This gives Google’s machine learning enough information to set a realistic conversion value. It also enables it to smartly modify your bid for max returns in sales.
This is a conversion-focused strategy. As such, it requires conversion tracking enabled to know if its actions are leading to conversion and when to adjust your bid to curb losses and increase gain.
For organisations with no recent ad campaign that cut the mark, you can consider manual CPC and Enhanced CPC bidding strategies.
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Frequently asked questions
Maximize Conversion automatically adjusts bids based on lead performance, ensuring optimal results for your budget. To delve deeper into this strategy, click here for more insights.
Maximize clicks is an automated bidding strategy that helps businesses drive the most click-throughs on their ads call-to-action while spending their daily budget. Click here to explore strategies for boosting your sales.
ROAS (Return on Ad Spend) allows you to set a desired conversion value, and by employing the Target ROAS strategy in lead campaigns, you can optimize outcomes. Click here to learn more.