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Explain the definition for the’ Total Conversion Value’.

Visitor ✭ ✭ ✭
# 1
Visitor ✭ ✭ ✭

I’m curious If you can tell me exactly what this definition means for the’ Total Conversion Value’.

Google’s Definition: Total conversion value is the sum of all conversion values for all conversions.

Why it matters: This metric is useful only if you entered your revenue or profit value into the conversion tracking tag.

I’d like to use it to figure out how much revenue a keyword or ad generates but I don’t quite understand the meaning.

Thanks,

Christine

1 Expert replyverified_user

Re: Explain the definition for the’ Total Conversion Value’.

Top Contributor
# 2
Top Contributor

Hi Christine S,

 

When you create an AdWords conversion, either using the AdWords conversion code or by importing Analytics goals, you can set the value of the conversion. If all conversions have the same value, that's all you will need to do. AdWords will add up the values of the conversions within the date range selected and report that amount to you.

 

If each sale has a different value, you can have your shopping cart software fill in the actual value of the sale. If your site is set up for eCommerce tracking, you can also import transactions as AdWords conversions. That will also carry the actual value of the sale.

 

Best of Luck!

 

Pete

 

petebardo -- Deadhead doing AdWords

Re: Explain the definition for the’ Total Conversion Value’.

Participant ✭ ☆ ☆
# 3
Participant ✭ ☆ ☆
Hi,

Its the total revenue earned by the keyword in a day. Suppose if a keywords lead to a sales of 3 cars worth $10 and 1 bus worth $5 then the total conversion value of the keywords on that particular day will be $15.

Siva.

Re: Explain the definition for the’ Total Conversion Value’.

Visitor ✭ ✭ ✭
# 4
Visitor ✭ ✭ ✭

Is it based on first touch or last touch data?

 

Is it different if it is imported from Analytics as apposed to using the AdWords conversion code directly?

Re: Explain the definition for the’ Total Conversion Value’.

Visitor ✭ ✭ ✭
# 5
Visitor ✭ ✭ ✭
Hey Karl. Adwords will attribute the conversion to the last click before the conversion. It will attribute the conversion to the day of the click, and not the day that the conversion took place.

Hope this is useful.

Re: Explain the definition for the’ Total Conversion Value’.

[ Edited ]
Visitor ✭ ✭ ✭
# 6
Visitor ✭ ✭ ✭

So, do you add "Click Assisted Conversions" to total conversion to get the "real" conversion value?

I am working with a large brand and although the branded keyword (or affiliates) gets most of the credit for keywords, we know that the other keywords play a role in the conversion. In order to account for that, how do we look at total conversion value - so we can get true "value" of that campaign?

Re: Explain the definition for the’ Total Conversion Value’.

Visitor ✭ ✭ ✭
# 7
Visitor ✭ ✭ ✭
Hey Stephanie.

No I would not recommend adding 'click assisted conversions' to your 'total conversions' as you will be double counting some conversions. Because AdWords uses a last click counting method it is difficult to see beyond this. That is why bid management platforms are very popular as they enable you to select your own attribution model (i.e. first click, linear, position etc).

If you want to optimise your campaigns taking into account 'click/impression' assisted conversions, PPC Hero have a really good article which explains how you can do this: http://www.ppchero.com/easily-increase-sales-with-assisted-impressions-clicks/. You will see that Google have explained that 'The default recommendation I received from Google is to count impression assisted conversions as 15% of a true conversion and click assisted conversions as 30%.'

Hopefully this helps.

Re: Explain the definition for the? Total Conversion Value?.

Visitor ✭ ✭ ✭
# 8
Visitor ✭ ✭ ✭
Thanks for your response. Yes, I read an article similar to that with the .15 and .30 weight with other recommendations, and it looks like that is where we are currently leaning? but it should be so much easier. :-)

Thanks again!