Conversion Optimizer works by:

Conversion Optimizer, now largely integrated into Smart Bidding strategies like Target CPA or Enhanced CPC, works by automatically adjusting bids in real-time to help you get the most conversions within your budget. It analyzes historical conversion data and other contextual signals (like device, location, time of day, operating system, etc.) to predict the likelihood of a conversion for each auction. This allows it to bid higher when a conversion is more likely and lower when it's less likely. A/B testing landing pages is a separate optimization technique. While Conversion Optimizer aims to find users likely to convert, it primarily does so through bid adjustments, not by automatically finding new targeting parameters. Running campaigns during specific hours is a manual scheduling option, not the core function of Conversion Optimizer.