If your business relies on Google Ads, you’ll know that not all conversions hold the same value. A lead from a specific city might be worth twice that of a lead from a smaller town, or a mobile purchase may generate a lower margin than a desktop one.
Historically, reflecting these nuances in your bidding optimisation was a complex, manual challenge, often requiring tedious code changes or post-conversion analysis.
Enter Conversion Value Rules (CVRs), a powerful tool that dramatically simplifies how you communicate real-world business value to Google Ads Smart Bidding. CVRs allow you to instantly adjust the reported conversion value in real time based on specific, observable conditions.
Think of an online retailer: they could specify that conversions from customers who have previously purchased (a high-value audience) should be multiplied by 1.5. Similarly, a service provider could create a rule to increase the value of all conversions originating from a high-growth geographic location by 25%. You can set these essential rules based on three key areas: Geographic Location, Device Type, and Audiences (leveraging both your first-party and Google lists).
This feature is invaluable for those using value-based strategies like Target ROAS or Maximise Conversion Value.
By implementing CVRs, it’s possible to ensure the bidding practice moves beyond basic volume and focuses on true profitability, whether that’s optimising for lifetime value or better profit margins.
The benefit is sophisticated, real-time optimisation across Search, Shopping, Display, Travel and Performance Max campaigns, whilst simplifying the overall Ads account. management programme.
It’s a crucial step towards aligning the Google Ads spend with the ultimate business objectives without needing to constantly update conversion tags by making the data work harder to redeem these benefits:
- Optimise true business goals: Better reflect your business’ observable data and optimise to what matters, like revenue, profit, offline conversion value, or lifetime value.
- Simplified management: Improve reporting and optimisation directly from the Google Ads account, without having to change tagging code.
- Real-Time Optimisation: Optimise for nuanced values in real-time with Target ROAS and Maximise conversion value.
If you want to know more about how the use of Conversion Value Rules could benefit your business’s Ads campaign, please get in touch.