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Conversion Tracking Setup - Values

Visitor ✭ ✭ ✭
# 1
Visitor ✭ ✭ ✭

Hi,

 

I am wanting to set up AdWords conversion tracking for a client that sells different types of subscriptions to his site. For example, You can purchase monthly subscriptions ($15 subscription which gives them 5 credts, a $30 subscription which gives them 20 credits, $35 for 50 credits) or an annual subscription for $300 with unlimited credits.

 

My client wants to be able to track conversions so that he can work out his ROI. They currently tell me that the max cost per conversion can be $80 to still be profitable.

 

With previous clients, I have always picked the 'assign no value' to a conversion. Should I use this option for this client, and then just count the total number of conversions and divide by their monthly AdWords spend, or should I be assigning a static value or a dynamic value?

 

Please help! I'm a bit confused and find the help material on Google even more confusing Smiley Sad

 

Liz

3 Expert replyverified_user

Re: Conversion Tracking Setup - Values

Follower ✭ ✭ ☆
# 2
Follower ✭ ✭ ☆
Hi Lizzy,

Its interesting query...As they have clearly mentioned Cost per conversion is $80. You can control the budget campaign to make sure the cost does not go beyond $80.

You can ask the credit value to them. I mean the worth of 1 Credit to calculate the ROI.

You will get better solution from experts in our community than me.

- Syed Nouman

Re: Conversion Tracking Setup - Values

Top Contributor
# 3
Top Contributor
I am not sure experts will know more than Syed. As long as the client does not disclose their profit formula, whatever value Lizzy uses, they will be nothing more than guesses. Hence focus should be on CPA.

Re: Conversion Tracking Setup - Values

Visitor ✭ ✭ ✭
# 4
Visitor ✭ ✭ ✭
Hi Lizzy,

There are essentially three products with 3 different conversion values, so you would need to think of this client as an eCommerce client and assign different conversion value for each subscription type.

You can find more information about it here: https://support.google.com/adwords/answer/6095947#website

You would pick "The value of this conversion action may vary" and send the tracking code to your customer. They will have to assign a different value for each product in the tracking tag.
This will allow them and you to measure the ROI.

Re: Conversion Tracking Setup - Values

Rising Star
# 5
Rising Star

Hey Lizzy, how are things?

 

I find this topic very interesting, I'd like to add my point of view on this.

 

Most of the people use the "value" field the wrong way. I see a lot of clients with value of "1" or any other value that actually doesn't mean nothing to them, usually because the person that installed the tag just inputted something to fill the gap.

 

In my opinion, some important things to consider:

  • Value should be based on data: You should use the Value field when you already know your average price per conversion. If the advertisers is new to online media or doesn't have historical data for Adwords, I recommend to leave the Value blank
  • Not mandatory: Value is not mandatory field, so whenever there's doubts leave it empty, specially for new accounts.
  • Don't use random numbers: As I said earlier, a LOT of clients just add "1" to the field. This doesn't actually help at all and often creates doubts on the client
  • If you have the help from developers: If you're lucky and have developers to help, you can ask them to integrate de value field with the website, which will cause the value field to receive the accurate value of buys, leading to a more accurate data

That's my view on this.

 

Hope this helps.

_


Leandro Martinez | Basta1Click

Re: Conversion Tracking Setup - Values

Top Contributor
# 6
Top Contributor

Hi @Lizzy B

 

I would advise to have transaction specific conversion value set up as @Stefan T suggested. Though, it would be a bit tricky to set that up and may be challenging if the website is static HTML one.

 

Explain to your developer that the thankyou/success page where the conversion code fires should add transaction specific value. For instance, if a $15 subscription was bought the conversion code should fire with $15 as the conversion value. 

 

If you are able to set this up, it will be easier to find out ROAS and ROI. Data will be more accurate and meaningful, and even your campaigns can best be optimized with CPA strategy as well.

 

Thanks
Ratan Jha
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