This article explains what conversion values are, the benefits of using them, and how they're reported. To set or edit conversion values or to change the currency in which your conversion values are reported, follow the steps in the article Set conversion values.
Conversion values help you measure and optimise the true business impact of your ad campaigns more accurately. If you assign values to your conversions, you'll be able to learn the total value driven by your advertising across different conversions, rather than simply the number of conversions that have happened. You'll also be able to identify and focus on high-value conversions.
When you use conversion tracking, you can assign the same value to all conversions of a certain action or let each conversion have different values (transaction-specific).
You can adjust your conversion values with conversion value rules. Use conversion value rules to apply a multiplication factor to conversion values for higher value types of customers, devices or locations.
Conversion values help you to track and optimise the return on investment (ROI) of your campaign.
You can use the Target (ROAS) bid strategy to help maximise your conversion value while averaging your target return on ad spend.
If you don't have a specific return on ad spend target, you can use the Maximise conversion value bid strategy to maximise the total conversion value of your campaign within your specified daily budget.
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 to 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: When you set up your conversion values, you can use either the target ROAS or the Maximise conversion value bid strategy. Automated bid strategies automatically set bids to optimise for your performance goals across specific campaigns, ad groups and keywords.
- With Target ROAS, bids are set to maximise conversion value, such as sales revenue or profit margins, while trying to achieve your target return on ad spend (ROAS).
- With Maximise conversion value, bids for each auction are optimised to maximise conversion value.
Measure conversions with the default value setting
For some conversions, the value can be kept the same. You might want to use conversion values that are the same if you're tracking several conversion actions. You can capture separate values this way, say for phone calls and sign-ups. Viewing separate values allows useful comparisons between two different conversion actions. If you value calls at £5 GBP and sign-ups at £20 GBP, this means that you value your sign-ups four times more than calls.
Other examples of actions that customers take that could be valuable to your business: form submits, price quotes, arranging test drives, callback requests or looking up a store location.
Set conversion values in Google Ads and consider these options:
- Use conversion value rules to provide additional value information that isn’t already reflected in your account and optimise in real time to those values. Conversion values are adjusted by the specific rules (for example, increase value for users in New York by 20%).
- If you’re measuring leads, use the conversion value calculator to determine the average value of your conversion actions, so you can use a value-based bidding strategy.
- Consider tracking more customer actions on your website by creating a new conversion action.
Note: If you’ve set up your website conversion tracking with a URL, you can only use static in-UI values.
Measure transaction-specific conversion values
A transaction-specific value is one that could be different each time that the same conversion happens. If you own an online shop with a shopping basket, for example, one purchase conversion might be worth £25 GBP, while another is worth £500 GBP.
You might want to use transaction-specific conversion values for your business if each of your sales has a different conversion value and you'd like to:
- Track and optimise your campaigns' return on investment
- Use Smart Bidding strategies, such as target return on ad spend (ROAS). It’s recommended that 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 transaction-specific value depends on the source of your conversion value. Here are common options to measure a transactional value, based on the conversion methods that you’re currently using today.
Google Ads conversions: Implement at least one of the following options, based on your business objectives:
- If you measure online sales with transaction-specific values and use:
- The Google tag: Follow the steps in this article on tracking transaction-specific conversion values. You can also use Tag Manager to deploy conversion tags with values.
- Google Analytics: If you have a Google Analytics account to measure web or app values, you can import your conversions into Google Ads conversion tracking.
- If you measure values from your leads that’ve been qualified or closed, it’s recommended that you implement enhanced conversions for leads.
- If you measure the impact of your online ad spend with your offline sales, implement store sales measurement.
- If your conversion value is only available offline or in your customer relationship management (CRM) system, you can also import offline conversions from ad clicks into Google Ads (advanced).
Find conversion values in reports
After 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 view all your conversion value data at a glance, you'll need to add columns to your statistics table.
To add conversion value columns, follow the steps in About columns in your statistics table.
For information about the columns that are available, read Understand your conversion tracking data.
Conversion value currency
Conversion values will always be reported to you in your Google Ads billing currency. However, you can assign a different currency to your Google Analytics conversions if those are measured in a currency different from your billing currency. Google Ads will import the Google Analytics conversions in that designated currency and then convert it for you to your billing currency.
Conversion value currency for cross-account conversion tracking
If you use cross-account conversion tracking – managed in a manager account (MCC) with multiple Google Ads 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 Google Ads 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.
Tracking conversions without a monetary value
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.
Values and bidding strategies
When you set up your conversion values, you can use either the Maximise conversion value or target ROAS automated bid strategies. Automated bid strategies automatically set bids to optimise for your performance goals. To help improve your performance, these strategies incorporate real-time details such as device, browser, location and time of day to adjust your bids during each ad auction.
Target ROAS maximises conversion value while trying to reach an average return on ad spend that you set. In other words, it's the average conversion value (such as sales revenue or profit margins) that you'd like to get for each pound that you spend on ads.
Maximise conversion value bidding automatically finds an optimal bid for your ad each time that it's eligible to appear, in order to maximise conversion value subject to your daily budget.