How can you apply a different format to your *|Merge Field|* based on certain conditions? Let's say for example you want the *|City|* merge field to have the color blue if the city name is 'San Francisco' or 'Las Vegas' and red if the city name is 'Chicago'.
Follow this Tutorial
Create a column for every conditional format you need. In this example we created two additional columns called 'City-Blue' and 'City-Red'
If the formula bar write the conditional logic. This formula states that if the City in B2 is "San Francisco" or "Las Vegas", show the text in B2, else show "" empty text.
The 2nd formula simply states that if the City in B2 is "Chicago", show the text in B2 -that is "Chicago"- otherwise show "" emty text in the cell.
Insert the conditional merge fields into your template. In this case we inserted *|City-Blue|* and *|City-Red|* next to each other with a space before each merge field. Now apply the formatting you want on each merge fields. Select the whole merge field including the *| and |* tags and change its color or any other formatting you wish.