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In this step, you’ll define the metrics to be analyzed as part of the condition. At this level, you can create simple conditions that analyze one metric, like find keywords that have Cost greater than X and zero conversions, or you can create complex rules that use formulas on the right-hand side.
For example, find all keywords that have a cost/conversion that is twice that of the campaign average.
Select the metric you want to use to evaluate performance.
Specify the devices, date range, and level where the metric should be evaluated.
Choose the value the metric should meet for the condition to be satisfied. The value can be entered as a constant number, a metric or an expression (formula).
Select the Metric to Use
The metrics available are grouped by Attributes, Performance, Conversions, Attribution, Competitive Metrics, Conversions by Categories, and Custom Conversions.
If you had already set a custom variable in the first step, you will also see it here.
You can choose to evaluate performance through standard conversion types, or custom conversions. These are set up in your Google Ads account. They are tracked and displayed with the category and name you've previously set, making it easier to track specific conversions in your account.
Running Strategies on Search Terms
The strategies in the Rule Engine can also be run on Search Terms for actions such as analyzing high-performing queries and adding them as new keywords or queries with high cost and no conversions to add as negative keywords. You can read some of its use cases here.
Conditions can be set to only consider those queries that are not currently present as keywords in your account, campaign, or ad group, to avoid creating duplicates.
The actions available for strategies running on Search Terms allow you to add a Negative Keyword at the ad group or campaign level, and as a positive keyword at the ad group level.
For any new positive keyword, you can set its bid using a constant number, expression, or a single metric. This could translate into, for example, setting the bid to be Avg. CPC, Minimum bid to Avg. CPC and Maximum bid to First Page CPC.