You’re right that conversion‑optimized (oCPC) campaigns require a supported standard conversion event, and that’s one common reason the Conversions objective can’t be used. However, the provided knowledge sources don’t list:
- Which specific events are “standard” vs “custom”
- Exactly what UI conditions cause the Conversions objective to be greyed out
So I can’t definitively tell you whether your specific event is eligible, only how the system is intended to work.
From the docs:
- oCPC “supports one standard conversion event per campaign. Custom conversion events are not currently supported for oCPC.” [oCPC FAQ]
- Before creating an oCPC campaign, you must have “at least one supported standard conversion event” available and conversion tracking set up via Pixel and/or Conversions API. [oCPC setup]
Given that, here’s what you can reliably check based on the docs:
- Confirm you’re using a standard event type
In Ads Manager’s Conversions / Events area, verify that the event you created is one of the standard event types (not marked or configured as “Custom”). Only those are eligible for oCPC. The docs explicitly say custom events are not supported for oCPC. [oCPC FAQ]