Accedo Digital | September 27, 2019
It’s an astonishing time for eCommerce business owners as our world drifts and points to a fully digital era. A time where all the news, entertainment and shopping is a keystroke, mouse click, finger swipe or even voice command away.
With the increasing use of paid search advertising, search engine marketing platforms such as Google Ads are used to build, manage, and optimize shopping campaigns that deliver high yields for advertisers that can maneuver their way through the network.
As consumers tend towards mobile for product discovery and shopping decisions, leveraging a sophisticated Google Shopping strategy is a must for capitalizing on your Ad Spend. This article aims to provide foresight to owners and advertisers that are on the pursuit of higher yields.
Weigh & Revise Past Performance
This is an opportunity to review essential triumphs at the platform, campaign & product level. Ask yourself the following:
Once you’ve taken the time to gather your historical data and align them to future initiatives, you’ll be ready to start making strategic decisions towards driving traffic, acquiring new customers and re-targeting previous customers.
Discern How The Google Shopping Algorithm Works
Within Google’s Shopping network, Google, not the advertiser, has full control over when the Ad is displayed. Bidding is a fundamental element of Google Shopping, but ultimately, pricing is the major ruling influencer. Google on some occasions might not even allow you to engage with searchers if they determine your prices aren’t competitive.
Several other components fix this outcome:
This is why it’s critical to include a plan to plan out product pricing, organize your feed, optimize your product titles and use keywords in titles and descriptions that are most relevant to your product!
Keep Your Pricing Competitive
Pricing competitiveness is an essential element in any serious Google Shopping strategy, and for quite some time now many advertisers and main PPC bloggers have come to the conclusion that you cannot fix-sub-optimal pricing with bidding strategies!
I’ve identified three stages to price competitiveness with our clients:
The initial stage is simply being conscious of how your products are priced in the market. This frequently produces an understanding that allows you to identify when your pricing for a specific brand or product is considerably higher than your main competitors. At this stage, any changes conducted are manual changes.
The second stage is when you develop a bidding strategy based upon the knowledge of your product’s pricing positioning in the market. A few essential tactics include;
The third and final stage consists of creating the ideal scenario in which your ads will have the most success in terms of ROAS (Return On Advertising Spend). Take for example creating a special limited time offer that places your products below your direct competitor’s pricing and increases the impression share on these products. This also works the other way around, if you can’t meet your competitors at their current pricing then shift to a more conservative approach, limit impression share on these products and shift your budget on products you find you’re most competitive at.
Explicit Query Sculpting
We, advertisers, embrace the possibility of utilizing negative keywords to manage our campaigns in order to exclude queries that do not fit our business models or strategies.
A well-known hack among experienced advertisers is that you can actually utilize negative keywords to structure your account in Google Shopping. The idea originates from the thought of using the concept of keyword matching to Google Shopping.
Advertisers came up with the following strategy that can categorize three or more campaigns with a shared budget to structure the whole account:
In order to filter queries into the right campaigns, we advocate the use of negative keywords and the campaigns’ priority features.
Now that your priorities are organized, you’ll create shared negative keyword lists to drive your higher intent traffic into the appropriate campaign. You’ll need a shared negative keyword list for:
By adjusting our bids for profit we are now we’re getting to the real enchantment of the technique, we can bid differently at the Generic, Brand, and SKU level. Tie it all together with a shared budget that ensures that all three or more campaigns always belong to the same auction and will ensure that your higher-intent traffic is funneled down to the right campaign.
Recap: Pave Your Way To Shopping Sales
Finding the right shopping strategy is not a guessing game. Your should always rely on hard facts and historical data. Weigh and revise past performance, once accomplished analyze the data and apply it to the development process of your strategy. In terms of pricing make sure you keep it competitive as it’s a key element that determines your impression share.
Last but not least sculpt your campaign by relevant search queries, the closer someone’s search matches your product, the likelier you are to get the sale, keep in mind that the quality of a search query can have such a direct impact on the likelihood of conversion, don’t let the lack of control affect your profits!