Marketing is an investment and any good investor deepens their knowledge, makes informed decisions and chooses the best marketing channel that will reap high dividends.
Here at Hesk Digital we know that Shopping Ads are a great way of getting a high Returen on Advertising Spend (ROAS). The proper integration of shopping ads, however, is the key to maximise Return On Investment (ROI).
HESK Digital’s Team has over 10 years of experience and will be able to drive your leads, increase your brand trust and boost your SERP page ranking. As tactical and strategic experts, the team at HESK Digital will work to improve money saving now and in the future.
So let’s have a look at some tips on increasing your Shopping ROI
What are ROAS and ROI
ROAS measures the dollars a company will receive for every dollar they spent on advertising. ROI is used to measure the overall effectiveness of the marketing campaign. Increasing your ROAS and ROI ratios is the ultimate goal, but many businesses overlook the process that has to be taken to get there.
These are 4 tips and tricks we’ve found useful when it comes to quality improvement of shopping campaigns and ultimately, ROI maximisation.
Run an analysis
An important and commonly overlooked step when it comes to optimising shopping ads is that an analysis of data does not occur. A business must gather their data including metrics and statistics on clicks, website traffic, current ROAS and other features to see the performance and status of each ad. When gathered, businesses can analyse the information and determine where their money is being well spent, where money can be saved and areas requiring monetary injection. Businesses can focus on the parts of their campaign that are lacking through the information that the different statistics provide.
Make sure your Analytics is integrated with your shopping ads, and that you’re attributing spend in both platforms using the same attribution model. Also, take a good look at your landing page statistics.
Improve shopping feed data
High-quality feed data is a crucial aspect regarding reaching the right searches and broadening reach within the shopping network. Product titles, descriptions and GTIN identifiers help Google understand the nature of your product and determine which queries to match the products to. Using tools such as feed rules found in the merchant centre, businesses can modify their current data to increase its quality and findability. All of these listed elements will boost shopping ROI and improve campaign performance.
Organise your Shopping Ad
Maintaining the organisation of your campaign is a critical way of keeping track of how money is being spent and thus give businesses relevant information to determine their return on investment. Organising leads to optimising, which leads to a higher ROI. Subdividing product groups, calculating targets and creating custom labels for a more streamlined arrangement are ways businesses can organise shopping ads.
Subdividing product groups by profit margin/price banding is also a great tip allowing efficient analysis to determine whether or not further work is needed in the campaign.
An important tip that we here at HESK Digital recommend is that when analysing budget expenditure and performance, the main focus should not just be on which sections necessitate higher cost allocation or parts of the campaign that are doing well, attention should be given to the elements that are draining money and causing a loss.
Excluding parts of the shopping ad such as bad brands and products as well as keywords that drain money is the most effective way to tactically cut costs in the short term and strategically save money in the longer-term. Checking the individual performance of the shopping ad and determining the best performers is critical to making sure your campaign is profitable.
We hope these tips have helped, If you need a little bit more help with your shopping campaign, contact us here at Hesk Digital and we’ll see how we can help you more effectively drive conversions.