Google announced a new way to quickly and easily add a form of “conversion tracking” within Google Analytics for your AdWords campaigns named Smart Goals. Smart Goals basically automates the process of setting up conversion metrics for your AdWords campaigns.

Google explains:

To activate Smart Goals in Google Analytics, go to the Admin section of your Google Analytics account, click Goals (under the View heading) and select Smart Goals.

Here is a picture of them in Google Analytics:

You can learn a lot more in this help document.

Forum discussion at Google+.