Right now, AdWords advertisers only have information about the last ad the customer saw—the last ad they clicked on before they made a purchase. Search Funnels helps advertisers to see all of their search ads the consumer saw or clicked on before they finally purchased.
The reports also let advertisers see other related terms their customers searched for before clicking. The reports include: Top Conversions, Assisted Conversions, First and Last Click Analysis, Time Lag, and Path Length. They display data for 30 days prior to the conversion.
As always, Google provides a video explanation:
Google has tested the feature with advertisers including MetLife. MetLife’s CMO, Beth Hirschhorn, said the feature was useful: “Search Funnel enables us to create a better experience for our customers by helping us understand how they search for our products. It is an important tool to help de-code consumer shopping habits and thought processes, which we can relate back to our online as well as offline advertising.”
The report set will be added to AdWords accounts under Reporting > Reporting. To see the data, however, you’ll have to track conversions with AdWords Conversion Tracking or import them from Google Analytics.