Summary
When using the Maximize Conversion Value bidding strategy in Google Ads, you can make adjustments to your targeting by employing tools like audience segmentation, geographic targeting, ad schedule adjustments, device targeting, and value rules. These adjustments ensure that your campaigns achieve maximum value while leveraging the automation of the bidding strategy.
Understanding Maximize Conversion Value Bidding
Maximize Conversion Value is a Smart Bidding strategy within Google Ads that uses machine learning to optimize bids in real-time. Its primary goal is to generate the highest possible total conversion value within a predefined budget or without a specific budget constraint. Conversion values represent the monetary worth assigned to specific conversions, such as purchases, lead value, or any other business-related goals. While this strategy is automated, advertisers maintain control over key targeting parameters.
Adjusting Targeting for Maximize Conversion Value
1. Audience Segmentation
Segmenting your audience allows you to reach users who are most likely to generate high-value conversions. Use tools like:
- Custom Audiences: Target users based on their interests, behavior, and search activity.
- Remarketing Lists: Engage users who have previously interacted with your website but haven’t converted.
- In-Market Audiences: Focus on users actively searching for similar products or services.
For example, you can prioritize remarketing audiences who previously abandoned their carts, as they are more likely to convert at a high value.
Learn more about audience targeting [Google Ads Audience Targeting, 2023].
2. Geographic Targeting
Adjust your campaigns to focus on geographical locations that historically generate the highest conversion values. You can:
- Analyze performance data to identify regions with high-value conversions.
- Exclude locations with low performance to avoid wasting budget.
For instance, if your business operates internationally but specific countries yield better ROI, you can allocate more budget to those regions.
Learn more about geographic targeting [Google Ads Geographic Targeting, 2023].
3. Ad Schedule Adjustments
Maximize the impact of your campaigns by setting ads to run during specific times or days when high-value conversions are more likely. Review past performance to determine:
- Which times of the day generate the highest conversion value.
- Days of the week with stronger performance.
For example, if your data shows that weekends drive higher spending, adjust ad schedules accordingly.
Learn more about ad scheduling [Google Ads Ad Scheduling, 2023].
4. Device Targeting
Monitor the performance of different devices (mobile, desktop, tablet) to determine which ones generate higher conversion value. Optimize your campaigns by:
- Setting device bid adjustments to prioritize high-performing devices.
- Excluding devices that consistently show poor performance.
For example, if mobile devices convert at a higher value than desktops, you can set positive bid adjustments for mobile traffic.
Learn more about device targeting [Google Ads Device Adjustments, 2023].
5. Value Rules for Conversion Value Prioritization
Google Ads allows you to use value rules to assign higher conversion values to specific actions, audiences, or conditions. You can define value rules based on:
- Location: Assign higher values to conversions in premium markets or regions.
- Device: Prioritize conversions from devices that traditionally have higher purchase behavior.
- Audience: Elevate the value of high-intent audiences, like returning customers or cart abandoners.
For instance, you might assign 20% more value to returning customers because of their higher lifetime value.
Learn more about value rules [Google Ads Value Rules, 2023].
Best Practices for Effective Performance
1. Monitor Performance Regularly
Although Maximize Conversion Value uses automation, it’s essential to monitor campaign performance regularly to ensure it aligns with your goals. Use metrics like cost per conversion value (ROAS) and overall conversion value trends.
2. Set a Target ROAS (Optional)
If you want to guide the bidding algorithm more directly, consider setting a Target ROAS (Return on Ad Spend). This ensures that Google Ads optimizes for a specific profitability level while maximizing conversion value.
Learn more about Target ROAS [Google Ads Target ROAS, 2023].
3. Use Conversion Tracking
To maximize conversion value effectively, ensure that you’ve set up accurate conversion tracking and assigned appropriate monetary values to your conversions. This provides the algorithm with the necessary data to optimize properly.
Learn more about conversion tracking setup [Google Ads Conversion Tracking, 2023].
Conclusion
While Maximize Conversion Value bidding automates much of the bidding process, advertisers have significant control over targeting adjustments. By fine-tuning audience, geography, schedule, device targeting, and value rules, you can ensure that your campaigns achieve both high conversion value and profitability. Regularly monitoring performance and employing best practices further enhances outcomes.