Increased conversion by paying the least possible price for each conversion is every Google AdWords user’s dream, however most advertisers struggle with poor conversion rates and high ad campaign costs. There is some good news though; Google wants to help you out.
Google has launched a new AdWords feature; the Conversion Optimizer (a keyword management and analytics tool) that focuses on the relevancy and Quality Score of an ad campaign to help advertisers optimize their cost-per-conversion vs. volume of conversion exchange.
The Conversion Optimizer looks at your conversion history to automatically populate more conversions at lower costs. The tool adjusts the advertisers position favorably in a given ad auction to get the maximum number of profitable clicks and minimum number of unprofitable clicks. If advertisers want to optimize the conversion rates for a new ad campaign Google will simply go back to click-through optimization.
Google’s Lisa Shieh explains more via the Inside AdWords blog:
We’ve always encouraged you to test multiple ads in each ad group, and we’ve offered our help by showing ads with the highest clickthrough rates more often. However, some of you have told us that the ad with the highest clickthrough rate isn’t always the ad with the highest conversion rate and that you’d like to be able to optimize for conversions rather than clicks. Starting today, we’re allowing you to do just that.
To start benefitting from this new feature, you must activate conversion tracking in your AdWords account. You can enable the Conversion Optimizer for your ad campaigns, from the advanced settings tab in your AdWords account. Click on the “Enable Conversion Optimizer” button in the “Campaigns” tab, and Google will automatically set keyword bids for you.
This feature is a great way to learn which of your ads are the most successful. To learn more, visit the Google AdWords help Center here.