What is Google Adwords Conversion Optimizer?
The Conversion Optimizer is an AdWords feature that uses your AdWords Conversion Tracking data to get you more conversions at a lower cost. It optimizes your placement in each ad auction to avoid unprofitable clicks and gets you as many profitable clicks as possible.
How does it work?
With the Conversion Optimizer, you bid using a maximum CPA, which is the most you're willing to pay for each conversion (such as a purchase or signup). Using historical information about your campaign, the Conversion Optimizer automatically finds the optimal equivalent cost-per-click (CPC) bid for your ad each time it's eligible to appear. You still pay per click, but you no longer need to adjust your bids manually to reach your CPA goals and can benefit from improved ROI.
To calculate the optimal equivalent CPC bid, the Conversion Optimizer first calculates a predicted conversion rate for each auction. The Conversion Optimizer takes many factors into account, including your ad's conversion history, the keyword's broad match query, the user's location, and the conversion rates of Google's search and content partner sites. The feature then generates an ad rank by combining your CPA bid, quality score and predicted conversion rate.
If your planning for a successful adwords campaign that converts, you need to do the following:
1) Add the action code on your goal page in the right location or
2) If you're linking your adwords account with your Google analytics account, you can import your Google analytics account and use them.
3) If your targeted keywords are expensive, you need to start with CPM - preferably with display ads. Choose the right and relevant placements, add relevant keywords and start monitoring.
4) Keep tweaking your campaign to make sure that you you're using the sites/placements that is bringing you more conversion but at the same time not costing you much.
5) Once you reach 300 conversions, you can use CPA bidding model (Cost Per Action). Put your maximum bid and see how your conversions will boost.
Note: You might not be able to switch directly from CPM to CPA, so you need to switch first to CPC and then select CPA.
Good luck with your google adwords campaign.
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