Google has released a new (well, newish) four-page PDF document named Testing value based bidding using Google Ads campaign experiments guide. This document can be useful for those who want to test Maximize conversion value or Target ROAS bidding.
The PDF is over here (uploading it to my server in case one day it goes missing).
The guide goes through more details about testing and experiment sand then takes you through the steps:
(1) Setting up your value based bidding experiments
(2) Choosing the correct experiment settings
(3) Monitoring and evaluating the experiment success
(4) Then how to scale those experiments to succeed at a wider scale
Here is a screenshot of the PDf that says, “Campaign experiments allow you to test Maximize conversion value (with an optional target ROAS) against your existing bid strategy. Experiments are the best way to test value based bidding, since they allow you to isolate your new value based strategy within the experiment (trial arm) and cleanly compare it against your campaign’s current bid strategy (control arm) while keeping all other variables constant. This helps ensure you’re measuring impact in a reliable way.”
