Too long, didn’t read? Here’s your TLDR for ads news and how tos. Retailers have shown incredible resilience over the past few years, despite industry and digital disruption.
Between consumer behavior shifts, a competitive market, and even greater focus on profitability, you’ve got a lot in your shopping cart. That's why we're introducing new features to help you increase the reach of your Google ads Campaigns. Knowing where your customer is shopping is one thing - knowing what makes them click “buy” can truly propel your profits.
And that clarity comes with new tools that surface important campaign insights. Our new reporting features like product insights help you understand what's working in your campaign and what can be improved. You'll see when competitors have stronger offers, get help identifying products with missing attributes, and understand best practices to help drive maximum results.
You'll even get more insights into product categories, so you're spending your time and resources on the stuff that matters most - like identifying optimization opportunities based on your different goals. To optimize your ads, it's important to understand the true value of your sales. And Google Ads is making it easier and faster to do just that in the campaign performance tab.
With metrics like Gross Profits, Profit Margins, or even Profits on Ad Spend, you can analyze and optimize your advertising strategy based on product performance. Did you know that 65% of consumers in surveyed markets are more likely to research products online, even if they intend to buy in store? And more than half of consumers are more likely to visit stores to see or touch products, even if they plan to buy online.
It's clear stores are an important part of any shopper's journey, wherever they end up buying. And if you're looking to drive traffic into your local stores, Performance Max campaigns can help. They can reach high-value customers across Google, and then send them to your physical locations to complete the purchase.
Performance Max uses the power of Google's AI to help you multiply conversions across Google Ads channels like Search, YouTube, Gmail, and more. You can easily connect your Google Merchant Center feed to your Performance Max campaign. If you want to see the benefit of cross-channel automation for yourself, use Experiments in Google Ads to run a head-to-head test with your Standard Shopping campaign and a Performance Max campaign.
And if you have omnichannel goals, you can measure and optimize both online and offline conversions in your Search, Shopping, and Video action campaigns. Danish retailer ILVA has a great example of how that works. Their team was looking for ways to include offline sales goals within existing online sales-focused campaigns.
They decided to use omnichannel bidding by applying conversion value rules to their store visits. This enabled them to more accurately attribute the value of each store visit for each product category. As a result, ILVA saw a 30% increase in return on ad spend for the categories where omnichannel bidding was activated.
The retail landscape might be constantly evolving, but Google is here to help you evolve along with it. Try these new insights and tools to Uunderstand what's working, so you can get more customers in the door - literally and digitally. And that's your Retail TLDR.
