Using conversion values
- When you use conversion tracking, you can assign the same value to all conversion actions of a certain type (static values) or let a conversion action have different values (transaction-specific).
- Conversion values help you track and optimize your campaigns' return on investment (ROI).
- You can use the target return on ad spend (ROAS) flexible bid strategy to maximize your conversion value while averaging your target return on ad spend.
Not all conversions are equal — some are worth more to your business than others. If you assign values to your conversions, you'll be able to see the total value driven by your advertising across different conversions, rather than simply the number of conversions that have happened. And you'll be able to identify and focus on high-value conversions.
Here are some other benefits of using conversion values:
- Better insight: You can measure the total conversion value generated by your campaigns' conversions. This also helps you track your campaigns' ROI by using the "Conversion value/cost" column. You can use this data to identify keywords, ad groups, and campaigns that show a high or low return on investment and manually change bids, budgets, and targeting.
- Smarter bidding: Once you set up conversion values, you can use the target return on ad spend (ROAS) flexible bid strategy. Flexible bid strategies automatically set bids to optimize for your performance goals across specific campaigns, ad groups, and keywords. With target ROAS, AdWords will set maximum cost-per-click (max. CPC) bids to maximize your conversion value, while trying to achieve an average return on ad spend (ROAS) equal to your target.
Setting up or editing conversion values
You can change the conversion value as often as you'd like. Just keep in mind that changes will apply only to conversions that happen after the change, and changes to the default value will usually take effect within a few hours.
For each conversion action, you have three options for setting up or editing the conversion value:
- Each time it happens, the conversion has the same value: If you choose this setting, whatever value you choose during setup will be used, regardless of any transaction-specific values your conversion tag might send.
- The value of this conversion action may vary: If you pick this setting, you'll need to edit the tag to send transaction-specific values. You'll also need to choose a default value and currency that can be used in case your tag has technical issues and fails to send a value.
It's best to count "Every conversion" if each conversion can have a different value. If you pick "One," only one value is counted, even if a customer converts more than once. Learn more about conversion counting.
- Don't assign a value: The conversion value will be 0, regardless of the value sent by the tag.
To change the default conversion value, follow these steps:
- Sign into your AdWords account.
- Click the Tools tab and select Conversions.
- In the table, find the value you'd like to change and click it to change the value.
Using static values
A static value is one that doesn't change — each time a conversion happens, the value is always the same. You might want to use static conversion values if you want to capture separate values for sign-ups and leads, say $10 for sign-ups and $5 for leads.
You can also use static values to show relative values of two conversions. For example, if you choose a value of 5 for leads and a value of 20 for sales, this lets you value your sales four times more than leads.
Other examples of actions that customers take that could be valuable to your business: price quotes, arranging test drives, callback requests or looking up a store location.Set up static conversion values
- Sign in to your AdWords account.
- Click the Tools tab and select Conversions.
- Click + Conversion if you're creating a new conversion action. Or, select an existing action that you want to add a value to.
- For a new conversion action, enter a value in the "Conversion value" field. For an existing action, click the Settings tab and then click Edit Settings to enter a value for this action.
- Click Save and continue or Save, depending on whether you're adding a value for a new or existing conversion action. Choose "Each conversion has the same value," enter a numeric value, and click Save. You don't need to update your tag — any value in your tag will be ignored and replaced with this value.
Using dynamic values
A dynamic value is one that could be different each time the same conversion happens. If you own an online store with a shopping cart, for example, one purchase conversion might be worth $25, while another is worth $500.
You might want to use dynamic conversion values for your business if each of your sales have a different conversion value and you'd like to:
- Track and optimize your campaigns' return on investment
- Use flexible bidding strategies, such as target return on ad spend (ROAS). We recommend you select "Every" in your conversion counting settings if this is the case. If you select "One," only one value is counted, even if a customer converts more than once.
Setting up a dynamic value requires the support of a web developer, someone who can integrate dynamic values with the
google_conversion_value variable within the conversion tracking tag.
Set up dynamic values
To set up dynamic values, follow the steps in this article on tracking transaction-specific conversion values.
Find conversion values in reports
Once you've set up conversion tracking, you'll have access to conversion value data, like the sum of all conversion values for all your conversions. To see all your conversion value data at-a-glance, you'll need to add columns to your statistics table.Add your conversion value columns
- Sign in to your AdWords account.
- To see data for a specific period, click the date range menu on the top corner of the page and select the time period you'd like to analyze.
- Click the Campaigns tab.
- Click the Columns button above the statistics table and select "Modify columns" from the drop-down.
- Click Conversions and then click Add next to the columns that contain data you want to see:
- "Total conv. value": The sum of all conversion values for all ad clicks during the date range that you've selected. This is usually equal to the total revenue driven by your ads.
- "Conv. value / cost": The total conversion value divided by the total cost for all ad clicks. If you've entered your revenue or profit value, this will be equivalent to your return on investment.
- "Conv. value / click": The total value of all your conversions divided by the total number of clicks. This measures the average revenue generated by each click on your ads.
- "Value / conv.": Total value of all conversions divided by the total number of conversions. This measures the average revenue generated by each of your conversions.
- "Value / converted click": Total value of all conversions divided by the total number of converted clicks.
Keep in mind that your conversion metrics are adjusted to reflect only the ad clicks that could have led to conversions.
Conversion value currency
Conversion values will always be reported to you in your AdWords billing currency. However, you can assign a different currency to the value of each conversion action.
You can do this within the settings for a conversion action, or when setting up a new conversion action. When setting the value for a conversion action, simply pick the currency you want to use from the menu.
If you're providing transaction-specific conversion values in your conversion tracking tag, you can also specify a currency to associate with the value by using the variable "
google_conversion_currency" in the code. You'll need to use the appropriate ISO 4217 standard 3-letter code for the currency, which you can find on this page.
var google_conversion_currency = "EUR";
You'll need to use the same code in the IMG line of the tag, too.
When you report conversion values in currencies other than your default account currency, we'll use the average daily foreign exchange rate to convert the amount into your account currency in your reports. This ensures that conversion values are reported in the same currency as your ad costs, so that ratios such as ROAS are useful.
If you choose "No currency set," we'll ignore any currency code provided by your tag, and add the conversion value without converting currencies.
If your conversion tag (or imported conversion) doesn't specify a currency code, or doesn't use the ISO 4217 standard 3-letter code, we'll ignore the currency in the tag and instead use the currency you provided with the default value for that conversion action.
Conversion value currency for cross-account conversion tracking
If you use cross-account conversion tracking — managed in a manager account (MCC) — with multiple AdWords accounts, the conversion values will use the currency of the manager account unless you specify a different currency with the default value or provide a currency code in the conversion tag. However, if the AdWords account driving a click that converts has a different billing currency, the conversion value will be converted to that account's currency using the average daily foreign exchange rate.
Your manager account's default currency is British Pounds. You created a conversion action you've valued at £10. Someone clicks an ad served by a managed account with a default currency of Euros and completes a conversion action. The current exchange rate is £1 = €1.19. In the managed account, we'll show a conversion value of €11.93. The conversion value will still be shown as £10 in the manager account.
If you're tracking conversion actions without a real monetary value but still want a way to measure relative values of different conversion actions, you can choose not to assign a currency. These values are often referred to as "key performance indicators" or "KPIs." Even if your tag includes a currency code, it will be ignored if you've selected no currency for the default value of that conversion action. This lets you control whether your conversion values are measuring monetary values or KPIs without updating the conversion tracking tag on your site.
You have an email sign-up form on your website, and prefer not to assign a monetary value to sign-ups, but still want to assign a numerical value to them. You create a conversion action and assign a value of "2" to each sign-up, and choose "No currency set." In your reports, you'll see a value of "2" regardless of your account's billing currency or any currency code sent in the tag.
If a conversion action in your manager account has no currency assigned to the value, we won't do any foreign exchange conversion, regardless of the account currency of the AdWords account that gets credit for the conversion.
Values and bidding strategies
Once you set up your conversion values, you'll be able to use the target return on ad spend (ROAS) flexible bid strategy. Flexible bidding strategies automatically set bids to optimize for your performance goals. To help improve your performance, target ROAS incorporates real-time details such as device, browser, location, and time of day to adjust your bids during each ad auction.
Target ROAS maximizes your conversion value, while trying to reach an average return on ad spend that you set. In other words, it's the average conversion value (for example, revenue) that you'd like to get for each dollar you spend on ads.
You might want to use target ROAS when you value individual conversions or conversion actions differently and want to meet a target return on ad spend. Learn more about target ROAS and how to set it up.
Keep in mind
Existing conversion actions that don't have a chosen value will have a default value of "1."