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In plain English
When someone clicks a Google Ads ad, the landing page URL includes a click identifier such as gclid. If nothing saves it, that identifier is lost as soon as the visitor moves to another page, and Google Ads may not be able to credit the conversion.
The Conversion Linker tag reads those identifiers and stores them in cookies on your own domain. When a conversion tag fires later, Google Ads can link it back to the click.
In most Google Ads setups in GTM it fires on all pages.
Example
Google Ads reports far fewer conversions than your enquiry inbox. In Preview mode you notice there's no Conversion Linker tag in the container. You add one firing on all pages, and new conversions start matching back to their ad clicks.
Official documentation
- Conversion linker (opens in a new tab) Tag Manager Help
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