These are the foundation strategies of Smart Bidding. Without a target, Maximize Conversions tries to spend the full budget while producing as many conversions as possible, and Maximize Conversion Value tries to produce the highest total value. Adding a Target CPA or Target ROAS turns them into efficiency-focused strategies with a cost or return goal.
Used without a target, these strategies can drive up the cost per conversion as they chase volume, especially with generous budgets. They're often ideal for launching a campaign and gathering data; once performance stabilizes, a target can be added.
Example
A new campaign launches on Maximize Conversions to gather conversion data for three weeks, then a Target CPA is added at the cost per acquisition it achieved.
How Sloss Digital uses it
We often launch on Maximize Conversions or Value to build data quickly, then layer in a Target CPA or ROAS based on the results and the client's economics.