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Smart Shopping for the Holidays – A Test & Learn Approach

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With the December holidays approaching, it’s more important than ever to have confidence in your eCommerce strategies. It is no secret that online shopping is the new normal, and with fewer people traveling for the holidays, some families are putting more under their trees due to travel restrictions. As marketers, it’s no secret that a strong holiday strategy is vital for Q4 success.

Should you test Smart Shopping?

Is Smart Shopping for you? Well, it depends! Smart Shopping has a lot of incredible benefits and chances are your Return on Ad Spend (ROAS) will skyrocket. The higher your ROAS, the better because that depicts you’re spending advertising dollars efficiently.

One of the downsides of Smart Shopping is less control, but by combining Smart Shopping with regular shopping campaigns, you can expand your reach exponentially. Another downside is that because Smart Shopping is automated, it will show ads for top-performing products, putting you at risk for underselling less popular products. This can be bypassed by creating product-specific Smart Shopping campaigns.

So, what is Smart Shopping exactly? According to Google, Smart Shopping campaigns use events such as online purchases, signups, mobile purchases and store visits to automatically maximize conversion value for the daily budget you set. Essentially, Google uses pre-existing data to drive your revenue and maximize conversion value. What’s not to love? If you want to learn more, check out Connor Reagan’s post on running smart shopping campaigns along regular campaigns. 

My team tested smart shopping for a fitness equipment brand. We saw some pretty incredible results. Before I dig deeper, here are some best practices to be aware of before setting Smart Shopping campaigns.

4 Tips for Testing Smart Shopping

  1. Test things slowly – Don’t make any drastic changes close to peak holiday times; While new strategies are exciting, you don’t want to test too much at once.
  2. Push for Incremental Spend – Piggybacking off my previous point, Q4 is the time to push for incremental spend. You can use incremental spend to test Smart Shopping campaigns if you haven’t already and therefore, you won’t have much to lose.
  3. Create a standard Catch-all shopping campaign – Smart Shopping campaigns tend to spend more than regular campaigns. Creating a standard Catch-all shopping campaign to catch the excess once Smart Shopping budgets run out ensures you don’t miss out on anything. Target all products and set a low, manual bid ($0.15-$0.20).
  4. Implement Scripts – Here at Brainlabs, we are data nerds. I highly recommend running scripts to help automate or catch anomalies the human eye might otherwise miss.

Our Shopping Structure Before Smart Shopping

Before digging into the impact Smart Shopping had on our campaigns, let me paint a picture of our account before implementing smart shopping campaigns. When we started working with this brand, campaigns were divided into “All Products” search and shopping campaigns. They were broken down further into three categories – Mobile, Desktop and Tablet. While this proved effective, we wanted to test strategies that stretched efficiency even further.

While “All Products” campaigns (campaigns that catch excess traffic not targeted by more granular campaigns) perform well, the more product specific you can get, the better. Keep in mind you should still have a general catch-all campaign to catch the excess, even once you get Smart Shopping implemented. Getting more product specific allows you to more granularly target audiences, create product-specific ad copy, get more granular with keywords (if applicable) and more.

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Before testing Smart Shopping, we also started breaking out top-performing products for both Search and Shopping into their own separate shopping campaigns. Not only did we see an increase in revenue through this change, but we also had more control where we sent users because we had more control over final URLs and budgets.

The Results

It’s no secret that Smart Shopping has been all the rage in the digital world. While we were getting decent results without using Smart Shopping, we couldn’t help but wonder – does this actually work? While we were a little nervous to try something new, we went ahead and launched a Smart Shopping campaign for one of our top-performing products. We implemented a mid- and upper-funnel campaign.

Overall, we saw a big increase in ROAS due to Smart Shopping campaigns. Some days, we even saw ROAS above 600%. It is recommended to still keep a regular catch-all shopping campaign to ensure no traffic is missed, and if you do test product-specific smart shopping campaigns to diversify your products. Our results were significant enough where I highly recommend any one to try it, however, I don’t recommend making changes hastily before peak times like the holidays.

In short, here are steps we took to implement smart shopping campaigns. These steps will ensure you test things slowly but surely.

  1.  Ensure both Search and Shopping campaigns running – Having both search and shopping campaigns is best practice to cover all your bases and reach the highest amount of users
  2. Create a catch-all campaign in both Search & Shopping  – As stated earlier, catch-all campaigns ensure you catch excess traffic that aren’t caught by product-specific campaigns
  3.  Create product specific campaigns for shopping and search for top performing products – You want to create product specific campaigns for your best sellers and exclude them from the catch all. This helps ensure all your products get shown, not just top performers
  4. Gauge performance – Midway through the process, ask yourself. What worked? What did not work? You might need to pivot your strategy a bit.
  5. Swap Smart Shopping product specific campaigns for currently running Shopping product-specific campaigns – Now, you’re ready to launch Smart Shopping campaigns. Making a gradual shift from regular shopping to Smart Shopping gives you extra cushion
  6. Review your test results – What worked? What didn’t work? Did you see ROAS increase significantly? Be sure to keep track of your data for Smart Shopping versus regular campaigns to note the impact. If ROAS has fluctuated, consider regrouping your campaigns. Be sure to give campaigns 2-4 weeks to run before making significant changes. 

All in all, testing out Smart Shopping will require some trial and error. Does it work best by having a singular catch all? Do you need product specific campaigns? Should you take a multifaceted approach with Smart Shopping, Regular shopping, and Search campaigns? There’s no secret formula, it will all depend on the brand and product. However, taking the above findings into consideration when planning  your eCommerce strategy is sure to bring success!

PPChero.com

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Facebook Faces Yet Another Outage: Platform Encounters Technical Issues Again

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Facebook Problem Again

Uppdated: It seems that today’s issues with Facebook haven’t affected as many users as the last time. A smaller group of people appears to be impacted this time around, which is a relief compared to the larger incident before. Nevertheless, it’s still frustrating for those affected, and hopefully, the issues will be resolved soon by the Facebook team.

Facebook had another problem today (March 20, 2024). According to Downdetector, a website that shows when other websites are not working, many people had trouble using Facebook.

This isn’t the first time Facebook has had issues. Just a little while ago, there was another problem that stopped people from using the site. Today, when people tried to use Facebook, it didn’t work like it should. People couldn’t see their friends’ posts, and sometimes the website wouldn’t even load.

Downdetector, which watches out for problems on websites, showed that lots of people were having trouble with Facebook. People from all over the world said they couldn’t use the site, and they were not happy about it.

When websites like Facebook have problems, it affects a lot of people. It’s not just about not being able to see posts or chat with friends. It can also impact businesses that use Facebook to reach customers.

Since Facebook owns Messenger and Instagram, the problems with Facebook also meant that people had trouble using these apps. It made the situation even more frustrating for many users, who rely on these apps to stay connected with others.

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During this recent problem, one thing is obvious: the internet is always changing, and even big websites like Facebook can have problems. While people wait for Facebook to fix the issue, it shows us how easily things online can go wrong. It’s a good reminder that we should have backup plans for staying connected online, just in case something like this happens again.

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We asked ChatGPT what will be Google (GOOG) stock price for 2030

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We asked ChatGPT what will be Google (GOOG) stock price for 2030

Investors who have invested in Alphabet Inc. (NASDAQ: GOOG) stock have reaped significant benefits from the company’s robust financial performance over the last five years. Google’s dominance in the online advertising market has been a key driver of the company’s consistent revenue growth and impressive profit margins.

In addition, Google has expanded its operations into related fields such as cloud computing and artificial intelligence. These areas show great promise as future growth drivers, making them increasingly attractive to investors. Notably, Alphabet’s stock price has been rising due to investor interest in the company’s recent initiatives in the fast-developing field of artificial intelligence (AI), adding generative AI features to Gmail and Google Docs.

However, when it comes to predicting the future pricing of a corporation like Google, there are many factors to consider. With this in mind, Finbold turned to the artificial intelligence tool ChatGPT to suggest a likely pricing range for GOOG stock by 2030. Although the tool was unable to give a definitive price range, it did note the following:

“Over the long term, Google has a track record of strong financial performance and has shown an ability to adapt to changing market conditions. As such, it’s reasonable to expect that Google’s stock price may continue to appreciate over time.”

GOOG stock price prediction

While attempting to estimate the price range of future transactions, it is essential to consider a variety of measures in addition to the AI chat tool, which includes deep learning algorithms and stock market experts.

Finbold collected forecasts provided by CoinPriceForecast, a finance prediction tool that utilizes machine self-learning technology, to anticipate Google stock price by the end of 2030 to compare with ChatGPT’s projection.

According to the most recent long-term estimate, which Finbold obtained on March 20, the price of Google will rise beyond $200 in 2030 and touch $247 by the end of the year, which would indicate a 141% gain from today to the end of the year.

2030 GOOG price prediction: Source: CoinPriceForecast

Google has been assigned a recommendation of ‘strong buy’ by the majority of analysts working on Wall Street for a more near-term time frame. Significantly, 36 analysts of the 48 have recommended a “strong buy,” while seven people have advocated a “buy.” The remaining five analysts had given a ‘hold’ rating.

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1679313229 737 We asked ChatGPT what will be Google GOOG stock price
Wall Street GOOG 12-month price prediction: Source: TradingView

The average price projection for Alphabet stock over the last three months has been $125.32; this objective represents a 22.31% upside from its current price. It’s interesting to note that the maximum price forecast for the next year is $160, representing a gain of 56.16% from the stock’s current price of $102.46.

While the outlook for Google stock may be positive, it’s important to keep in mind that some potential challenges and risks could impact its performance, including competition from ChatGPT itself, which could affect Google’s price.


Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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This Apple Watch app brings ChatGPT to your wrist — here’s why you want it

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Apple Watch Series 8

ChatGPT feels like it is everywhere at the moment; the AI-powered tool is rapidly starting to feel like internet connected home devices where you are left wondering if your flower pot really needed Bluetooth. However, after hearing about a new Apple Watch app that brings ChatGPT to your favorite wrist computer, I’m actually convinced this one is worth checking out.

The new app is called watchGPT and as I tipped off already, it gives you access to ChatGPT from your Apple Watch. Now the $10,000 question (or more accurately the $3.99 question, as that is the one-time cost of the app) is why having ChatGPT on your wrist is remotely necessary, so let’s dive into what exactly the app can do.

What can watchGPT do?

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