If you have stores online and off, you know online visits aren’t worth the same as foot traffic, and vice versa.
Well, it seems Google got the memo.
What’s going on: Google’s Smart Bidding conversion value rules update allows you to apply different values to different conversion actions, such as specific store visits or store sales conversions.
How it used to be: Before, all value rules applied to all conversion actions equally.
So if you had multiple product categories with different prices and average basket size, you’d have to assign a flat value… which means you couldn’t measure actual performance.
Fast forward to now: You can finally set store visits or store sales default values at the campaign level.
For example, setting a $100 default value for campaigns promoting expensive items, and a $10 for lower priced items or items with lower profit margin.
Why we care: This new feature could help you better sync and measure ad performance in both physical and online stores.
It could also help you adjust the weight of your online and offline conversions during holidays. Like decreasing store value by 20% to push your e-commerce program, for example.
Oh, speaking of holidays…