Bid Simulator, the AdWords tool that shows click, impression and cost estimates, now includes conversion predictions.
The Bid Simulator displays estimates for both 1-per-click and many-per-click conversions you might have received with different bids. As with the other estimated data, the conversion estimates are based on clicks from a recent seven day period.
So far, conversion estimates appear to be very limited to high volume keywords. Many accounts may see conversion estimates in the Bid Simulator only for brand keywords. Sparse conversion data clearly makes it hard to make any worthwhile predictions about future performance. Conversion estimates on brand keywords aren’t likely to be useful if the bids are already maxed out (as in the example above).
For those accounts with high converting non-brand keywords, the conversion data could be a helpful signal in determining to whether to test different bids.