maximize conversion value wins for pmax if your products have different price points since it steers spend toward higher revenue outcomes. if everything is the same price the difference is minimal.
If your conversions have different values, I would lean toward Maximize Conversion Value. If most conversions are worth roughly the same, Maximize Conversions makes more sense. I would also give the campaign enough data before switching strategies.
Against the grain, I think TROAS is the best choice. The other ones allow Google too much flexibility to get you conversions that help them bill you for traffic but are not really a net profit for you.
If you are running niches such as tech, crypto, finance, or gambling, in many cases “Maximize Conversion Value” is not necessarily the best strategy, because Google’s value judgment depends heavily on conversion signals.
If every conversion is worth roughly the same, maximize conversions is the cleaner goal. If some sales are genuinely worth more and you can send Google accurate values, maximize conversion value makes more sense.
The important part is the tracking. Assigning random values just to use value-based bidding gives the system a bad target. I’d test the change instead of switching the full campaign because most people use one option.
there's no universal winner — it depends on your offer's economics and how much signal your pixel has. Most people who run "maximize conversion value" do it because they read it's better for ROAS, but a lot of them are doing it on accounts/pixels where it's actually hurting them.
Use Maximize Conversion Value if your products have different prices so Google targets big spenders, but stick with Maximize Conversions if all your items cost the same or if you're launching a brand-new campaign.
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