Some Google Ads bid strategies, like Target CPA are so-called smart bidding strategies. This means that they rely on machine learning to optimize performance. Search queries from users as well as your keywords, ads or target groups in the account are signals that can easily be included. However, you will be really successful when the most valuable data is included in Smart Bidding.
On the one hand, there would be your conversions, which should reflect the leads collected online. But not every contact request has the same value. In short: The leads received via Google Ads campaigns have very different qualifications. In order to take this into account, conversion values should be stored in the account.
The superficial variant consists in assigning different values to individual conversion actions (such as contact form, registration, newsletter, …). The professional variant, on the other hand, is to upload real sales or profits from your own CRM to Google Ads (here you can find a Instructions from Google ). The key advantage of conversion values is that smart bidding strategies incorporate them into future auctions. In this way, your account learns and optimizes itself with real data from offline processes, such as your lead-to-sales process.
Another source of data that is often neglected is calls via the website. For some companies, these account for 50% to 80% of the actual incoming leads. Users who pick up the phone rather than fill out contact forms are also recorded. Call tracking includes conversions that are tracked via forwarding numbers and sent to Google Ads. We have a detailed insight into this in the UnitedAds blog compiled. Due to the often high lead potential, the facility almost always pays off.