Google has been making a lot of changes lately to optimize the performance of the campaigns. Now that target search impression share is gone and with the removal of accelerated delivery, this change is even better! If you are not aware of smart bidding, check out this post.
Maximize conversions value as the name suggests will optimize the conversion value of the campaign while sticking to the budget. This is great news, especially for eCommerce brands. Based on the beta test done on entripy.com, a Canadian custom t-shirt company the new smart bidding strategy showed a whopping 283% increase in conversion value and 286% in ROAS.