If you’ve been waiting for the ability to monitor your competitors’ Google Shopping campaigns, then you’ve come to the right place.
Keep in mind that Product Listing Ads (PLAs) are now a part of Google Shopping and offer improved management and optimisation features that allow massive time savings over the old interface. Bidding guidance is a welcome addition that includes real-time marketplace guidance for your target cost per click (CPC) and click-through rate (CTR).
How should you use the insights provided by Adthena’s new Google Shopping feature to maximise the ROI on your campaign?
Using Adthena’s new PLA tracking, you can view the top PLAs and analyse their market coverage, frequency, and display length.
Market Coverage: The market coverage of a PLA is the estimated percentage of searches on eligible search terms (those that display product listing ads) that an ad is shown for during a specified time period. The Market Coverage metric can be used to determine an ad’s significance in a market.
PLA Frequency: Taking into account only the search terms that an ad has appeared on, the frequency of a PLA is the estimated percentage of searches that it was shown for during a specified time period.
Display Length: This metric simply shows the running time in days of a given PLA, along with the exact dates it ran.
Head to Head: Compare up to three advertisers to see the overlaps, which listings are unique to you and which are unique to your competitors. This unique and valuable insight will help you to stay ahead of other PLA advertisers.
Now you’ve analysed the competition, how can you make sure your PLA campaign sits head and shoulders above the rest?
Select the Best Images
First and most importantly, make sure that the default images in your Google feed are your best overview images of the product – professional shots that capture optimal angles of your product, instead of side or back views, for example. Only the best images will get traffic.
Make sure that all of the other product images (back view, etc.) are also of excellent quality.
Optimise your feed using a good data feed tool and you will increase your ROI by providing better information and service to your customers.
Areas of your feed that need to be optimised include:
Product availability: out of stock products shouldn’t display ads.
Product titles: set attractive titles that maximise the impact of the first 20 characters.
Profitable products: exclude unprofitable products and those with low margins.
Product categories: set all relevant categories.
Winners and Losers
Filter your shopping campaign to find your winners and losers. The 80/20 rule may well apply in many cases – as in, 80% of your products take up 80% of your time and budget, yet make only 20% of your revenue. Remove or cut down on these to improve your ROI and focus on the 20% of your products that make you money.
By going to the Dimensions tab in your Google Shopping campaign on Adwords, you can filter your ads according to clicks, conversions, and cost per acquisition (CPA). Those with a relatively high CPA and those with a large number of clicks and low number of conversions should be removed.
If your campaign is weak to begin with, then these numbers will mean little, which is why it’s important to optimise and run the ads for some time before performing this step.
Track Your Performance
Competitive analysis is one of the essential tasks in maintaining an effective digital marketing campaign. Knowing where your competitors are at all times contributes to your marketing team’s acquisition of perfect information, which allows them to work as efficiently as possible, gaining maximum advantage in the places that matter most at specific moments in time.
Request a demo of Adthena’s services and find out how you can gain new customers and a greater Google Shopping ROI, as well as leave your competition in the dust.
(Main image credit: Caden Crawford/Flickr)