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Differences between Conversion Values

Visitor ✭ ✭ ✭
# 1
Visitor ✭ ✭ ✭

Hello,

 

while I'm creating conversion tracking code, I got a doubt that, 

What is the difference between 

 

1. Each time it happens, the conversion action has the same value  and

2. The value of the conversion action may vary.

 

For the 2nd option, if we choose $1 as a value, for 10 conversions, it will be like $10.

Then why we need the same value for the option 1?

 

I'm confused. please answer.

 

Thanks in advance.

1 Expert replyverified_user

Differences between Conversion Values

Explorer ✭ ☆ ☆
# 2
Explorer ✭ ☆ ☆

HI Amarnath,

 

Second option you can use when one conversion is giving you some sort of revenue, lets say you sell a product and it gives you some amountof money, that value you can use in second option.

 

Regards,

Manish

Re: Differences between Conversion Values

Eva Rising Star
Rising Star
# 3
Eva Rising Star
Rising Star

Hi @amarnath j

 

Here is the difference between conversion value parameters:

About conversions with the same value

For some conversions, the value can be kept the same. You might want to use conversion values that are the same if you are tracking several conversion actions. You can capture separate values that way, say for phone calls and sign-ups. Seeing the separate values allows for useful comparisons between two different conversion actions. If you value calls at $5 and sign-ups at $20, this means you value your sign-ups four times more than calls.

Other examples of actions that customers take that could be valuable to your business: form submits, price quotes, arranging test drives, callback requests or looking up a store location.

About transaction-specific conversion values

A transaction-specific value is one that could be different each time the same conversion happens. If you own an online store with a shopping cart, for example, one purchase conversion might be worth $25, while another is worth $500.

You might want to use transaction-specific conversion values for your business if each of your sales has a different conversion value and you'd like to:

  • Track and optimize your campaigns' return on investment
  • Use Smart Bidding strategies, such as target return on ad spend (ROAS). We recommend you select "Every" in your conversion counting settings if this is the case. If you select "One," only one value is counted, even if a customer converts more than once.

https://support.google.com/adwords/answer/3419241?hl=en

 

If you'd like to track transaction specific conversions, you'll need to modify your Adwords tag and integrate google_conversion_value there. You can find setup instructions here https://support.google.com/adwords/answer/6095947. 

 

If you do not update your tag,  Adwords then uses the default value you provided while you created your conversion action. 

Regards,
Eva