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What is it?
The 'Optimize Value Rules' tool suggests conversion value rules that you can set up in your Google Ads account. It gives you these suggestions by using the data from the segments you scored in Segment Scorer.
Note: The prerequisite for getting suggestions from this tool is scoring segments in the 'Segment Scorer' tool.
The prerequisite for getting suggestions from this tool is scoring segments in the 'Segment Scorer.'
How does this tool help you?
The 'Optimize Value Rules' tool lets you better express the value of conversions as they relate to your business and easily adjust values for conversions based on geographical location, device, and audiences during auction time bidding in real-time.
Setting up conversion value rules also helps in optimizing your account's performance by teaching Google's automation (like those that handle Smart Bidding to optimize Target ROAS, Maximize conversion value, and Smart Shopping campaigns) more about your business.
Here's a short blog post on Conversion Value Rules by Google here.
If you want to learn even more about Conversion Value Rules, our CEO, Frederick Vallaeys, has written a detailed article here.
'Optimize Value Rules' tool overview
When you open the tool, you will see the following.
Primary and Secondary condition setup
A table showing the conversion value rule suggestions
An aggressiveness setup
Apply button to create the Conversion Value Rules
1. Primary and Secondary condition setup
In general, for any conversion value rule, you can set up a Primary Condition (mandatory) and a Secondary Condition (optional). The available condition types for Primary Conditions (available in the dropdown) are Location, Audience, and Device.
Note: All value rules set up in the account should have the same Primary and Secondary condition types.
Read this article to understand how conversion value rules are set up.
In case the selected Google Ads account has conversion value rules already set up, we show the primary and secondary condition types in the tool directly, and these cannot be edited.
The suggestions then shown in the table will be based on the preselected primary and secondary condition types.
In case the selected Google Ads account has no conversion value rules set up, then you can select (in the Optmyzr tool interface) a primary and secondary condition type for the value rules to be set up in your account.
Once you've made the selection, suggestions will show up on the table.
2. Table showing the conversion value rule suggestions
This table shows the suggestions based on the selected primary and secondary condition types.
Every suggestion has a primary segment (say, California as the Location) and its computed team score (say, 4), a secondary segment (say, Mobile as a Device) and its computed team score (say 3), and existing adjustment for that combination (if any), suggested adjustment, and the new adjustment.
Based on the combination of scores for the primary and secondary segments, we suggest an adjustment.
If a value rule exists for the given combination of segments already, then the suggested adjustment follows the same operator (multiplicative or additive) as set up in the rule already. If a value rule does not exist for the given combination of segments already, then the suggested adjustment is a multiplicative factor.
The magnitude of the suggested adjustment depends on the scores for the primary and secondary segments. The primary segment is given a larger weight as compared to the second segment.
By default, the 'New Adjustment' column is populated with the same values as the 'Suggested Adjustment' column.
You can change the adjustment to be applied for each suggestion directly by editing the fields in the New Adjustment column if required.
3. Aggressiveness Setup
You can also switch between varying levels of aggressiveness depending on how aggressive you want the suggested adjustments to be by using the Aggressiveness dropdown above the table.
4. Apply button to set up the Conversion Value Rules
The 'New Adjustment' column reflects the final adjustment that will be applied for the given combination of segments. You can either bulk select all suggestions or select only specific ones and click Apply to create the conversion value rules in your Google Ads account.
Once you apply, a pop-up opens showing the status of the applies. Within the pop-up, you can click the ‘Go to tool’ button to return to the tool.