Just last month, Google announced its newest changes at Google Marketing Live. And now that the dust has settled, I’m here to talk about what I believe to be the unsung hero of the day—the newest bidding control, campaign-level conversion setting.
In this guide, I’m going to go over everything you need to know about this new bid setting. But before getting into what’s new, let’s do a quick refresh of the pre-announcement conversion tracking era.
What is conversion tracking?
Conversion tracking is the method advertisers use to identify and record valuable actions to their business within their Google Ads account. By setting up conversion tracking, advertisers give the Google algorithm the information it needs to understand what drives success in an account.
How does the algorithm gather these signals?
Advertisers set their conversion tracking up within the measurement section in Google Ads:
These conversion actions can either be imported from Google Analytics or tracked via the Google Ads pixel. And regardless of how you track your conversions, advertisers can add as many actions they find valuable. Once these conversion actions are defined in the platform, Google will record a conversion each time a user completes one of those actions.
What does the algorithm do with these signals?
As your account builds up conversion data, the algorithm starts to learn about these successful signals. And as these learnings are significant, the algorithm optimizes your ad delivery as you are eligible for placements in the ad auction. Without this conversion data, the algorithm is blind to the information most advertisers care most about—growing their business or client’s account by optimizing their delivery from Google Ads.
Now, there’s one thing that will never change: Conversion tracking is crucial to a successful Google Ads account. However, there has always been a missing piece to the puzzle with the account level conversion setting: the ability to tell Google which conversion action is most important to a given campaign.
Enter campaign-level conversion setting
“New bidding controls to help meet your goals” was one of the 10 announcements at Google Marketing Live. This announcement encompasses a few innovations, but campaign-level conversion setting stood out to me immediately.
So why did Google introduce this change to bidding? Google states that over 70% of their advertisers are using automated bidding today. And to that stat, they say:
“And while many of you have told us that Smart Bidding has helped drive better performance, you’ve also asked for more flexibility to reach your business goals.”
What is campaign-level conversion setting?
Campaign-level conversion setting is a way for advertisers to select which of their conversion actions the algorithm should track and optimize towards for a campaign.
So what’s different?
As I touched on above, with the account-level conversion setting, each of the conversion actions in a given account add together to populate your conversion metrics. Now, with the campaign-level conversion setting, Google is giving advertisers the ability to specify which action(s) should populate your conversion …read more
Read more here:: B2CMarketingInsider