Google Adwords is known for its highly targeted marketing prowess as advertisers only pay when there is a click or a thousand ad impressions.
Now Google has made another step forward to make the online advertising market more competitive with the Conversion Optimizer.
In short, the Conversion Optimizer allows advertisers to pay only when there is an online conversion, termed as cost-per-acquisition (CPA).
What Google Says
Brief
The Conversion Optimizer is an AdWords feature that uses your AdWords Conversion Tracking data to get you more conversions at a lower cost. It optimizes your placement in each ad auction to avoid unprofitable clicks and gets you as many profitable clicks as possible. With Conversion Optimizer, you bid using a maximum cost per acquisition (Max CPA), which is the most you are willing to pay for each conversion.
Which campaigns can use Conversion Optimizer?
To begin using Conversion Optimizer, your campaign must meet the following requirements:
– Have AdWords Conversion Tracking enabled
– Have received 30 conversions in the last 30 days
– Have received conversions at a similar rate for at least a few days and been running with conversion tracking for at least 2 weeks
– You should use Conversion Optimizer with existing campaigns because the longer a campaign has used conversion tracking, the more data the Conversion Optimizer has available to conceivably perform better without Conversion
More through a Video
Some Thoughts
As the struggle for more market share intensifies in the Online Search market, competition has perhaps forced Google to become more offensive. Can Yahoo and Microsoft track web performance as well as Google Analytics does?
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