The new tool allows users to specify a maximum CPA bid for each ad group.
Google (NASDAQ:GOOG) has announced that its Conversion Optimizer, a free AdWords feature launched last September that manages cost-per-acquisition (CPA) bids for advertisers, is no longer in beta. The Conversion Optimizer will now be available to any campaign with AdWords conversion tracking enabled that has received 200 conversions in the last 30 days.
The Conversion Optimizer allows users to specify a maximum CPA bid for each ad group, the most the user is willing to pay for each conversion, such as a purchase or sign-up. Then, using historical information about the ad campaign, the Optimizer automatically finds optimal cost-per-click (CPC) bids for each auction. Users end up paying per click, but no longer have to manually adjust bids to reach CPA goals.
Google will be hosting a free online seminar on January 15, from 10 -11 a.m. (PST) to help explain how the Conversion Optimizer works and how it can help businesses get more conversions from Google search and content campaigns.