Why is it important to set conversion values? Without it, you won’t know the two most important metrics in digital ad campaigns. Steve shows you how to estimate conversion values in this short video.
Whether a search campaign is for lead generation or eCommerce, each type of conversion needs to be assigned a value.
Here, we are focused on lead generation campaigns, which include the majority of search campaigns. For example, advertising a service business where leads (sales inquiries) are handled by a sales organization. We have a separate article about this topic for e-commerce search campaigns.
By assigning a conversion value, we are able to measure the two most important metrics for a search campaign: ‘return on ad spend’, and ‘advertising margin’. Even more importantly, we are able to inform the automated bidding system in relative terms how valuable a conversion is. So the automated bidding will be more aggressive in bidding for more valuable conversions.
A “sales funnel” is a conceptual model showing traffic flow, from first awareness of a product or service, to purchase.
Characteristics and behavior of traffic entering, transiting, and exiting a sales funnel can deliver valuable insights to digital advertisers.
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