How do you choose the right paid advertising agency in the sea of abundance? Key points to look at whether you are an advertising specialist or CMO. Choose right - and profit!
Paid search management is a great component of your marketing because it drives new customers to your business without them knowing about the goods and services you offer pre-hand.
When discussing with many companies what they face as a biggest challenge when trying to grow their revenues it is often said that the challenge is not innovation - it is the ability to commercialize and communicate it to the audience.
Let's have a look at the major obstacles.
Artificial intelligence is no longer a thing of the future. It surrounds us in almost every convievalbe way from trip bookings to smart homes. This article will feature just why AI is so great for e-commerce companies.
Let's have a look at how AI has improved the performance and understanding of the consumer behaviour after the adoption of smart AI solutions and platforms.
If you have searched on Google for specific product you are very likely to have seen shopping ads like
Sales season is a nightmare or a goldmine depending on who you talk with. One can indisputably if well prepared make good sales out of seasonal campaigns. So how do you best prepare as an e-commerce?
Start with the analytics.
Start by analyzing your traffic. If you only have time for top level then look at your timeline when the offers were up, how much brand traffic did you get how much non brand traffic in Google Ads? What are the demographics of your customer base and what ad copy was the most successful?
In addition if time allows look at your keywords, what where the top 10% keywords generating traffic and more importantly conversion? If your agency provides analytics on keyword level in regards to demographics, location, device, time of day and other key factors those are great to analyze in order to understand when where and how you should be bidding. The same goes for Shopping, in Google ads you have loads of information stored. Example of this can be the top movers in your google shopping campaigns but also demographics like where your top shoppers are, what device did they use when they purchased from you and what day of the week did they prefer to buy?
All of this data especially if you are a large e-commerce can be massive to even scim through therefore preferably if you have a large customer base your agency should be doing an analytics report for you.
Now let's look at step 2. There are certain measures and steps you should consider in order to make any seasonal offers like Black Friday, Christmas or Easter a success.
Start by looking thoroughly through your budget. What are you willing to spend? Where should most of the traffic come through? In case of unexpected scenarios what do you want to do; should you kill any advertisement or keep it going? Take a moment to consider your ROI and revenue target and the different scenarios connected to your business that could affect the budget and plan in advance. Read more about finding insights in last years data, How to evaluate your holiday performance Google Ads
The next step is to consider how much you want to spend for your brand and non brand traffic. A good rule of thumb is that brand traffic should be unlimited. If they are searching for your brand you should always be visible. In regards to non brand, try to target for the average position, look at data cost per click from last year and add 15% on top of that. Make sure to review your performance constantly during the campaign period. Important to review average position as ROI and revenue will not had time to be accurately updated.
Now any time you have bidding campaigns you are of course also looking at conversion, or at least you should be! Depending on whether you are a large or small e-commerce those ROAS targets can fluctuate slow or really fast, therefore you should also be careful when reading into that data. See the graph below:
A small to medium sized e-commerce company may have high to medium fluctuation in ROAS on their conversion data. This means that drawing any conclusions from that data can be very tricky. Whilst, large e-commerce companies with alot of data, conversion have acquired a higher amount of data that shows good patterns. Their ROAS fluctuation is usually lower, and you can draw conclusions must faster.
Unless you are a full time specialist working with Google Ads, it may be daunting to have to think of so many parameters before doing any advertisement during seasonality offer. Some years ago the sphere of e-commerce did not have as high competition as it does today hence mistakes or missed opportunities were forgiven. In today's extremely competitive unfortunately that is no longer the case. Therefore make sure that the agency you are working with, has a proactive approach to preparing you and your e-commerce for seasonal offers. A good agency will approach this matter strategically asking for your input after it has provided you with an overview on data from your account. If you are not receiving this type of support switch today!
This article discloses strategic points to consider when adopting a bidding strategy for e-commerce. This article is written for the strategic and the specialist within a e-commerce function of an enterprise.
1. Shifts In Return on investment due to Seasonality
Seasonal shifts can affect the paid search or conversion rate due to affected bidding landscape. For an e-commerce company this can result in missed opportunities. If not monitoring and understanding these shifts one can mistakenly make strategies that do not account the seasonality thus not receiving the desired effect of marketing efforts.
What to look at in order to increase revenue from your paid marketing efforts in e-commerce. How to make sure you are not cutting away profitable customers.
Understanding Customer Lifetime Value (as often abbreviated CLV or LTV) can be tricky but nevertheless one of the most important metrics in business and especially e-commerce whenever trying to understand where the profitability in customer acquisition lies.