The giant Google is once again offering a new tool within Google shopping : the price comparison. Anxious to constantly improve the performance of its platform to offer advertisers using Google Shopping technology all the features necessary to optimize their ads, the giant recently launched its new price monitoring tool on Google Shopping. Explanations and demonstration. Price watch on Google Shopping – ORIXA MEDIA About the new Google Belarus Email List price watch tool Now, through its new price watch tool, Google allows advertisers to see how the competition is positioned in terms of price.
Thanks to this new feature, Google helps professionals to estimate more accurately and reliably the price at which they should sell their product (s) in order to increase their click-through rate thanks to a more relevant offer, which will attract customers. fine more qualified prospects. This therefore results in an optimization of CPCs based on product prices. Zoom on the advantages of the price comparison for shopping ads Still with the objective of allowing advertisers to optimize their performance on their shopping ads as much as possible, the new price monitoring tool launched by Google helps you make first-rate decisions on key elements of your Google Shopping strategy.
About The New Google Shopping Price Watch Tool
Auctions : you now have the possibility to identify the bids of competing prices. The goal? Make an offer as a result of this analysis by adjusting your CPC up or down, depending on the competitive price seen through the comparison. Price : thanks to the price comparison, you can precisely analyze the competition and adjust your price according to the current market and the habits of consumers and prospects interested in your products in order to “match” their expectations as closely as possible. Diagnosis : following a change in your price for a product, you can study the performance variations caused by this change and / or analyze changes in the competitive environment.
Once this has been observed, you can adapt your pricing strategy in real time in order to optimize your performance. Concretely, how does it work? Here is how to access the new price monitoring tool offered by Google within Google Shopping: Go to the “Products” tab of your shopping campaign Then, click on “Modify the columns” then on “Add columns” In “Competitor data”, select the following fields: Reference product prices Difference from the reference price of the product Then, in “Shopping”, select the field: Average product price Price watch on Google Shopping – ORIXA MEDIA You thus obtain the following columns.
Concretely, How Does It Work?
Price watch on Google Shopping – ORIXA MEDIA As you can see, the price comparison offers you the following KPIs in order to optimize your current price: The average price of the products : that is, the average price of a typical product when the ad is broadcast. The price of the benchmark products : this is the click-weighted average price for this product in Shopping. Note : each price will have a different impact on the reference price. For example, and logically, the one who obtained the most clicks will have a stronger impact than the one who obtained fewer clicks.
The difference in your price compared to the reference price of other products This new pricing watch feature recently launched on Google Shopping represents an exceptional business opportunity for advertisers wishing to compare their marketing strategy with that of their competitors, and thus optimize their positioning. To date, the data provided by the price comparison is not available in shopping goal optimized campaigns. We will of course keep you posted when the time comes. Do you want to benefit from the expertise of our teams on your Google Shopping campaigns as part of your SEA strategy ? Do not hesitate to contact our agency to support you in your project.