If you use Adwords for advertising, and if you’re not using Google Conversion Optimizer, you should be. The results may be quite surprising.
On average, campaigns adopting the Conversion Optimizer achieve a 21% increase in conversions while decreasing their CPA by 14%
How it Works:
- Observes: Conversion Optimizer studies your conversion tracking data to figure out how often each type of auction leads to a conversion.
- Builds: Based on observed past performance, Conversion Optimizer creates a prediction model to guess which auctions will perform best for you in the future.
- Optimizes: Adjusts your bids on an ongoing basis, so your money is efficiently invested in the best auctions. It generates an ad rank by your CPA bid, quality score and predicted conversion rate.
You only need 15 conversions to enable it on your Adwords campaigns, and the sooner you implement it, the sooner it can start collecting data to analyze. Basically instead of bidding CPC or CPM, you bid a max. CPA. It literally tripled (+300%) my conversion rate on some of my campaigns, simply by enabling it on my account. In a worse case scenario, test it out for a day or two, and if it doesn’t work, simply turn it off. You may want to mess around with varying the max. CPA to see how Google takes the data and utilizes it to increase the conversion rate.
To enable it on your account, check out this post. Have fun!