Pay close attention!We come to with important new features for the optimization of Google Shopping campaigns! On the one hand we already have the possibility to manage campaigns through flexible bidding strategies, the second new feature and the one we consider much more interesting is to optimize bids by ID - Article level - through fully customizable filters to try to maximize ROAS.
1. Flexible Bidding Strategies.
Since a few days ago, from the Google AdWords tool, we have the possibility of implementing bidding strategies specially designed for Shopping campaigns. With them, you can move from manually changing manual max CPC bids to the world of automated bid optimizations.
This strategy will be implemented to capture both traffic as possible without going over budget. If so, this bidding strategy is perfect for you. By maximizing clicks, bids are automatically adjusted to maximize the number of clicks while reducing the average CPC.
This strategy is very simple, in Geotelecom we do not use it because we always optimize our clients' campaigns based on profitability (ROAS) or the KPI that in Adwords is represented as Conversion/Cost value.
If you prefer to manage your own bids automatically in order to increase the number of conversions the ideal option is the Advanced CPC. The Advanced CPC bidding is a tool that searches for auctions of shopping ads that are likely, by analyzing the history, to generate more conversions and increases in these auctions the maximum CPC bid up to 30%.
This automatically makes you more competitive in order to achieve conversion. It is optimized in real time and the system tries to achieve a higher number of conversions in exchange for a similar cost. With advanced CPC, we can optimize them according to the dynamics of the auctions and taking into account the context of the users. Thanks to the real-time bidding of advanced CPC, we can indirectly improve our ROI and reach new levels of performance.
Every ecommerce must be managed according to the profitability of advertising campaigns, in this case Shopping, with respect to the sales generated. If we optimize to achieve a higher number of conversions - previous case - we are telling the system to consider equally important to achieve the sale of an article of 100 € than that of an article of 1000 € !!!!
We therefore recommend that you use a bid-enhancing strategy to optimize your shopping campaigns based on your target ROAS. With the ROAS target, you are the one who decides the ROAS you want to reach and bids will be calculated automatically. Thus, the products that generate the most revenue will have the highest bids.
The feature is currently in beta and is only available to a limited number of vendors. We are fortunate that many of our customers already have the Beta.
2. Optimization of Shopping Campaigns by ID at the Product Level
We are very satisfied with these Google Shopping automated bidding solutions but we like to go much further. We would like to optimize ROAS at the ID level, i.e. per item, and be the ones to set the conditions to be met to dynamically modify bids and bid amount variations.
This was our dream, we were working on new scripts that would give us this possibility, and since last week this dream has been fulfilled. It is possible to do this by using filters in which we select the conditions that must be given to vary the Max CPC per product ID.
We will keep you informed.
Our next goal is to continue to research and invest in other ways to be more efficient in the manage your campaigns.