Bing Ads underwent a major change between July and the start of August – now, Bing advertisers with the Universal Event Tracking Tag are able to see potential conversion impacts when looking at their budget selection.
Being able to determine how various budgets can impact conversion rates is just the sort of insight business renegades need – and Bing Ads has delivered the goods.
Earlier this month, the Paid Search giant announced:
We’re adding conversion data to your budget suggestions in the Opportunities page, so you can make better decisions for your business. You can now view how different budget values could impact your conversion volumes.
Available to advertisers who use the Universal Event Tracking (UET) Tag, this update also provides insights into existing clicks, impressions and spend estimates. This change isn’t completely out of the blue, however…
Earlier this year, Bing Ads released other conversion-based suggestions for locations, remarketing processes and bid adjustments for day/time. These improvements are all part of a strategy to help users efficiently determine and achieve their business goals, with more in-depth insights.
To get the most out of this update, it is recommended that all advertisers turn on their conversion tracking through Bing Ads. In our experience, the vast majority of websites do not have this tracking enabled, but with Bing spend continuing to grow this should now be a standard tag on all websites using Bing Ads.
Enabling Bing UET tracking gives full access to opportunity suggestions, automated bidding and rules, and in-line reporting insights, which are all part of Bing Ads’ efforts to broaden its platform offering horizons.
Getting started is simple; create a UET tag for your website and then create a conversion goal. For anyone who attempts to leverage the conversion landscape without setting up their conversion tracking will be faced with a setup prompt message or a ‘lack of data’ message.
This update is one of the biggest to be released this year so far. Bing Ads’ program manager, Ji Bian, has even spoken about plans for integrating conversion data into yet more insights.
I guess all we can do now is stay tuned and reap the benefits!