Microsoft Bing Ads UET Conversion tracking allows you to specify which actions should be recorded as conversions by UET. Not all activities, however, are made equal. You most likely have a subset of behaviours that you believe are more significant to the success of an advertising campaign. One of the most significant benefits of using UET conversion tracking is that the UET tag on your website can track several kinds of conversions. Bing ads UET conversion tracking tag can log page views along with any conversion events (such as purchases, document downloads, newsletter signups, and so on) if the UET tag tracking code is put to your website.
We will setup Microsoft Bing Ads UET Tag and custom Event & eCommerce Conversion Goals:

Conversion Goals:
✔ Purchase/Sales Conversion tracking
✔ AddtoCart and BeginCheckout Tracking
✔ Contact Form Submission
✔ CallToClick & Mail Clicks
✔ Outbound tracking
✔ Button/link tracking

Platforms where I have worked:
Shopify, WordPress, Bigcommerce, Squarespace, Wix, Magento, and Custom platforms too

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What is UET?

Universal Event Tracking (UET) is an effective technique for tracking what customers do on your website. Microsoft Bing ads conversion tracking tag will collect data that will allow you to track conversion goals and target audiences with remarketing lists by creating one UET tag and placing it across your website.

Why Should You Use Universal Event Tracking?

There are four main reasons why one should use UET conversion tracking:

Improve your return on investment: Knowing which terms convert and which do not will help you optimize your ads more successfully.
It’s easy to manage: Only use one tag to tag your site. There’s no need to add new tracking tags to your site every time you add a new account or conversion goal to track.
Remarketing ready: UET conversion tracking also functions as remarketing tags, preparing you for Remarketing in Paid Search. Remarketing allows you to tailor your bids, advertising, and keywords to previous visitors to your site.
Compatibility: Tracking tags are compatible with Google Tag Manager and other top tag management solutions.

What are the key events one should track using Microsoft Bing Ads UET Goals?

To get the most out of UET, keep note of major events on your website, such as:

Purchase, Addtocart, BeginCheckout
Form Submissions
Appointments booked
Views of videos
Downloads
CalltoClick and Mail Click

So, It’s very simple, first you need to consider which KPIs are important to your organization. If you have Google Ads running already or have a GA4 Conversion Tracking setup on your website, then you can use the conversions set there as a template for your reference.

How to setup Microsoft Bing Ads Conversion Tracking?

Create a UET Tag – Microsoft Advertising account > click on Tools > Conversion Tracking > UET Tag > Create UET tag button.
Give the name and description of the event.
Select the manual option and copy the code.
Paste it into Google Tag Manager Tag setup for Bing Ads.
Save the UET Tag and Publish the GTM container.

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Conclusion

To Conclude, Microsoft Bing Ads Universal Event Tracking goals are a powerful tool for advertisers looking to optimize their online campaigns and drive meaningful conversions. By implementing UET Conversion Tracking goals, advertisers can gain valuable insights into user behaviour, measure the success of their advertising efforts, and make data-driven decisions to enhance campaign performance.

Through the creation and tracking of specific goals, such as page views, form submissions, or other desired actions, advertisers can refine their targeting strategies and allocate budgets more effectively. The detailed data provided by Universal Event Tracking Goals enables advertisers to understand which aspects of their campaigns are driving results and which may need adjustment.