You're mixing up two concepts here. Sitecore Engagement Value tracking, and goal conversion. From your question I gather; what you're trying to accomplish is to determine which variation of say a banner or a promotion, generates the most clicks?
You can achieve this, but your content editors are going to have to manage how they work with this. In very simple terms, it would be accomplished in this manner:
- Set up the M/V test, have each of the variations link to different target pages
- On each of the target pages, go to your "Analytics" ribbon, and define "Goals" for the page
- Assign a different goal to each target page in this manner
- Assign each goal an identical value
With these steps in place, and assuming you have no other tests running, this will produce the result you are looking for.
But the point to all of this is - one needs to fully understand what "Engagement Value" means in the Sitecore CEP, and what it can do for you. It's by long and far more than simply determining the highest conversion rate on any one component.
There are tools out there more tailored to the exact scenario you are looking for.
See my answer here: Clarification on Sitecore A/B Testing Results And the SBOS Accellerators kit: http://marketplace.sitecore.net/en/Modules/SBOS_Accelerators.aspx