How to value your shop visit conversions
- If you're tracking online sales as conversions and value them as the 'Revenue' generated, you can use this formula to decide on the Conversion Value for shop visits:
- Shop Visit Conversion Value = Average In-store Conversion Rate x In-Store AOV (Average Order Value)
- If your online conversions aren't valued as 'Revenue', you can assign the shop visits Conversion Value relative to how much you value online conversions. For example:
- You're a car dealership and you track online lead form submissions. You consider visits to the dealership 4X more valuable than completing the lead form. Set the shop visits value to 1 and lead form value to 0.25.
- You are a retailer and you track online sales. You consider an online sale to be twice as valuable as someone visiting your shop. Set the shop visits value to half of the average online sale conversion value.
- If you don't have online conversions and have only shop visit conversions, it's still best practice to input a conversion value for shop visits in order to report in Google Ads.
Best Practices for Smart Bidding
For all Shopping campaigns and Search campaigns optimising towards conversion value (i.e. Target ROAS, ECPC for Values, Maximise Conversion Value/SSC), shop visit conversion value is a required input. If you want to drive more shop visit conversions, increase its value relative to other conversion actions.
For Search campaigns optimising towards 'Conversions' (i.e. Target CPA, Max Conversions, ECPC), each conversion action is weighted equally for bidding. Therefore, conversion values aren't taken into consideration. However we recommend that you still input an accurate value for shop visits to report in Google Ads.