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I have read that Google Analytics supports click conversions (Tracking click conversions with Google Analytics). But I think I rather have conversions tracked within AdWords so I have a single source where I can monitor performance of specific campaigns.

So, is there a way for me to setup click conversions within AdWords, I could not find it here https://support.google.com/adwords/answer/2375435 or here https://support.google.com/adwords/answer/1722054

What I need specifically:

  1. be able to measure if a link with a specific class was clicked and of course assign that conversion to the campaign via which the user arrived
  2. only measure a conversion if a link was clicked by a user who came via one of my AdWords campaigns (so a user who would navigate directly to my site and clicked that link would not be tracked as a conversion

UPDATE

I do not have a landing page on which I can measure a conversion, since I'm an affiliate and don't sell the products myself, but redirect users to 3rd party publisher sites, I don't know whether a user actually buys the product. But I can get a pretty good indication of a conversion by measuring the click on a link that is directed to an external site. See how it works here: http://www.wonderweddings.com/weddingshop from this page and from any productdetail page the user can click to an external site. THAT is the click I want to set as a conversion.

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So for 1, you would setup the landing page as the goal, not the link.

For 2, that's precisely what the adwords conversion does.

Go to Tools - Conversions - +conversion.

More info: https://support.google.com/adwords/answer/1722054?hl=en (The link you posted summarizes it pretty good.)

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