Now that custom conversion value criteria can be established, businesses utilizing Google Ads to promote in-store visits have more control over smart bidding.
Users can now increase their bid for ads intended to drive in-store purchases at a physical location. Also, businesses can specify the value of a conversion goal using conversion value rules and spending is optimized by smart bidding around the business’s established values.
They can explore these updates through entering into their Google Ads account and going to Measurement > Conversions > Value rules, they can configure conversion value rules, then click create conversion value rule and complete the necessary fields.
The ability to establish conversion value rules for offline vs. online sales is now ideally suited for use. Users can also establish limitations on store visits or transactions based on audience, device, or geographic factors.
Meanwhile, users can give one campaign that promotes store visits a higher value than the other if they’re running two campaigns for that purpose.
“You can set store visit or store sales default values at the campaign level: You could set your store visit value at $100 for campaigns promoting big ticket items and at $10 for campaigns promoting lower price or low-margin products,” Google said in their blog post on August 30, 2022, Better control over Smart Bidding with new levers to value store visits and store sales.
Prior to this upgrade, Google Ads treated all conversion actions identically when applying conversion value criteria. Users can choose the conversion values at the campaign level in addition to specifying particular conversion values for customer visits and transactions.
Google points out that it is releasing this functionality just in time for the holiday season, when retailers typically see a change in in-store sales.