I just came across this LinkedIn post that I think is worth sharing:
When you are using customer lifecycle goals in Google Ads (or are using conversion value rules), the original value of your conversions is updated at the time of conversion.
This means Google will use the “new” value of the conversion in smart bidding, AND communicate the new value in the reporting.
By enabling ‘New Customer Acquisition’ and adding revenue value for new customers, you can stimulate smart bidding to bid higher for potential new customers.
Anticipating future revenue from new customers can be a good strategy, BUT you still want to monitor the immediate returns, right?
Before this new column, you had to pull some tricks to easily monitor the original conversion value. Not anymore.
Great job, Google!
- https://support.google.com/google-ads/answer/12080169?hl=en
- https://support.google.com/google-ads/answer/10518330?hl=en
– Nils