The conversion value optimization goal helps you increase your Return on Investment (ROI) and Return on Ad Spend (ROAS) by optimizing your website conversion ad sets to deliver ads to member accounts most likely to return the greatest value per conversion.
Best practices
When using the conversion value optimization goal, the following are best practices to help you meet your marketing goals.
| Consideration | Best practice |
|---|---|
| Duration | Ad set duration should be a minimum of four weeks. |
| Budget | Budgets should be equal to or greater than the default budget recommendations for website conversion ad sets. |
| Conversion optimization | Optimize for conversions that provide a sufficient volume of click-through attributed conversions. For example, greater than 30 conversions within two weeks. |
| Define the rules of your conversion: Choose a conversion value type | We recommend you choose Use a dynamic value when you set the value of your conversion. A dynamic conversion value helps better predict and optimize for high versus low value conversions. If you're using conversions with a Same (static) value, we recommend that you track and optimize for two or more conversions. |
| Define the rules of your conversion: Assign a conversion default value | When you choose either Use a dynamic value or Use a same value as your conversion value, assign a default value so we can optimize towards higher-value conversions. |
| Define the rules of your conversion: Assign a conversion default value without an actual value | Assign an arbitrary value - If you don’t have a specific default value for your conversion, you can assign an arbitrary value that corresponds to the importance of the conversion. For example: • You can assign a value of $0 for conversions you don’t want to optimize for. • Then, you can increase the value incrementally (for example, $10, $20, $30) for conversions as they increase in importance to your ad set goal. Assign a proxy value - If you have an actual value that you’d prefer not to share, you can apply the same multiplier or divider to your actual values and give that as your proxy number. This will allow us to understand the relationship between your conversions without having the exact value. Keep in mind, if you provide an arbitrary or proxy value and decide to use an actual value later, we recommend that you create a new ad set. |
| Conversion value data sources | Use Conversions API, Insight Tag, or both as your conversion data source. They send information automatically and continuously, which helps more effectively optimize performance. If you choose to use a CSV file upload, we recommend that you send data as frequently as possible. |
| Reporting | On the Advertise page in Campaign Manager, select Conversions & Leads from the Columns dropdown menu to view metrics influenced such as Total Conversion Value and Return on Ad Spend (ROAS). Keep in mind, you might see an increase in Total Conversion Value and ROAS, although the overall cost per conversion might increase as a result. We recommend focusing on ROAS and the value returned from conversion rather than cost per conversion and conversion volume when leveraging this optimization. |
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