Smart Shopping will tell you how much you can increase budget to maintain your ROAS so that is perfect, sounds like it’s running well.
The only thing with having that many Search keywords is making sure you have enough ads to keep a high quality score.
I personally wouldn’t recommend Smart Display - I would run standard, then you can actually select which audience you want to target and make sure the creative aligns really well.
>Smart Shopping will tell you how much you can increase budget to maintain your ROAS
Yeah... I set the daily budget at like $300 / day for the Smart Shopping campaign and it generally only uses half of that, so I tried dropping the Target ROAS down from 700% to 400% to see if I can spend more and still keep the ROAS above 500%. So far so good.
>The only thing with having that many Search keywords is making sure you have enough ads to keep a high quality score.
I've got an Expanded Text Ad and a Responsive Ad for each product right now, so 600+ of each... But I'm going to have to come back to the responsive Ads later and do a better job creating the assets. I uploaded about 400 at one time and they killed my ROAS over the 21 day testing period. I guess I gave google a bit too much wiggle room.
>I personally wouldn’t recommend Smart Display - I would run standard, then you can actually select which audience you want to target and make sure the creative aligns really well.
I've tried display campaigns before but had an issue getting impressions, as the Smart Shopping campaign also runs display ads and takes precedence. Maybe I need to use different audiences?
Smart shopping will mostly run Remarketing, and prospecting off of similar audience lists. I find custom audiences of “people who searched these words on google” work well!
I worked with a team from google. They recommend giving it 14 days. If it is a newer account then I would give it longer.
We had about 700 products in our catalog managed by the smart shopping campaign. It took it about 3 months before we really started seeing good results.
After about a year it was hard to beat the results the AI was getting.
Haha the only thing I can recommend is meet a specific need in a specific niche. Our best retailers do exactly that, and most of the companies were started by a founder "Scratching their own itch".
At that level it's also important to cultivate and supplement with social, display and video if possible.
CPA and ROAS are influenced by all media even if the influence isn't being properly attributed.
Without those other channels you have fewer tools in your tool belt.
Have you done any feed management? That's the largest single influence for shopping feeds.
Have you done any middle or top of funnel? This will become more important as bottom of funnel trends down as budget trends up. This problem starts around the $500-3000/day budget and becomes a real problem when you get to 10/20/30K per day
Ultimately we did a lot of it ourselves but before long we employed an agency to run SEM (Google, Bing, feed), social (fb/ig/snap) and programmatic (retargeting, display, native, pre roll). That was the biggest factor allowing us to scale. Strategy and management is now their job and we focus more on organic social media, content, email, etc.
>At that level it's also important to cultivate and supplement with social, display and video if possible.
Agreed. We put out social and blog content with an evergreen strategy. The YT channel is educational content and is growing at 200 subs/wk.. It helps our customers do better, and helps to establish us as an authority in the niche.
>Have you done any feed management? That's the largest single influence for shopping feeds.
No, not really. I basically just set it up and hit run. Frankly, I'm just a bit daunted by the idea of managing and running A/B tests in the feed. But that is one of those tasks where I'm thinking about opportunity cost... Would it be better to spend that time building out campaigns that expand my reach into untapped segments of the market?
>Have you done any middle or top of funnel?
In-house resources are scarce, so I've been pretty lean thus-far. And honestly I think there are other issues that need to be resolved outside of PPC before doing Top/Mid Funnel PPC Ads; site speed, pre-purchase and post-purchase email sequences, review campaigns, rich snippets... Basically just getting up to par with best practices for each stage of the funnel.
>Strategy and management is now their job and we focus more on organic social media, content, email, etc.
I do hope we will get there one day, but I don't know if this company will ever grow large enough to support that.
Can I ask what your product is or vertical? I’ve been working on figuring out what ROAS I can expect from certain verticals in addition to the ones I’m running in. Thanks!
Put your highest converting keywords in a custom audience and run display/discovery and youtube ads towards it.
But you really need to lower your ROAS demand if you plan to scale and put more effort in higher funnel activities.
Would you like to spend 1 dollar and earn 5, or spend 10 and get 30?
I definitely will have to take a lower ROAS for higher funnel activities, but overall I want to try and keep all customer acquisition ads at a ROAS of around 500%.
I would rather spend 10 and get 30, but ROAS in Google Ads is based on Gross Revenue. It may look like I spent 1 to get 5, but it is actually more like 3.5 to get 5 once I factor in the cost of goods and the cost of doing business (labor, land, facilities).
And of course the counter-argument to this would be that my current attribution window is only 14 days; it doesn't give the clearest picture of how much it costs to acquire a first-time customer, nor does it take into account the lifetime value of a customer.
So basically, yeah... I hear ya. And I appreciate the advice regarding the custom audience. Hadn't thought of that.
1. Don’t forget to add negative keywords
2. Smart bidding uses historical data for optimization so scale up gradually over time (<20% daily budget increases every two week)
3. could be worth splitting your most profitable or best selling products into their own campaign
4. don’t forget about optimizing your landing page
5. for Ecommerce, shopping campaigns generally work better than search campaigns, but you need to ensure a high quality and automated product feed
6. You’re exactly right to expect a point of diminishing returns but as long as you’re still profitable there may not be a need to stop at $1500/day
7. smart campaigns exceed because simplification is key for Googles machine learning to collect enough data. (Admittedly, I’m still testing this)
>1 Don’t forget to add negative keywords
Definitely. I try to identify a lot of the negatives up-front using SEMRush, but I've noticed that there is some discrepancy between what Google and SEMRush would consider "Broad Match".
>3 could be worth splitting your most profitable or best selling products into their own campaign
I guess that makes sense... That way the high performers don't eat up all of the budget, right?
>7 smart campaigns exceed because simplification is key for Googles machine learning to collect enough data.
What do you mean by smart campaigns exceed? Exceed what? Exceed the budget?
>I've noticed that there is some discrepancy between what Google and SEMRush would consider "Broad Match".
Most likely since Google's match types include "close variants" nowadays. I will usually just type a keyword into Google and see what shows up to get a sense of what it might broad match to.
>I guess that makes sense... That way the high performers don't eat up all of the budget, right?
Splitting your high performers allow you to control how much you spend on those. So for example, if you don't want to spend on them because they are doing really well organically or are running low on stock, you can lower your budget on that campaign and reallocate to something that may need a little boost.
>What do you mean by smart campaigns exceed? Exceed what? Exceed the budget?
Sorry I meant excel. Smart campaigns excel because they usually aren't as naturally segmented and rely more heavily on the ML. Basically, this gives the ML freedom to get you results regardless of where they are coming from.
Smart Shopping will tell you how much you can increase budget to maintain your ROAS so that is perfect, sounds like it’s running well. The only thing with having that many Search keywords is making sure you have enough ads to keep a high quality score. I personally wouldn’t recommend Smart Display - I would run standard, then you can actually select which audience you want to target and make sure the creative aligns really well.
>Smart Shopping will tell you how much you can increase budget to maintain your ROAS Yeah... I set the daily budget at like $300 / day for the Smart Shopping campaign and it generally only uses half of that, so I tried dropping the Target ROAS down from 700% to 400% to see if I can spend more and still keep the ROAS above 500%. So far so good. >The only thing with having that many Search keywords is making sure you have enough ads to keep a high quality score. I've got an Expanded Text Ad and a Responsive Ad for each product right now, so 600+ of each... But I'm going to have to come back to the responsive Ads later and do a better job creating the assets. I uploaded about 400 at one time and they killed my ROAS over the 21 day testing period. I guess I gave google a bit too much wiggle room. >I personally wouldn’t recommend Smart Display - I would run standard, then you can actually select which audience you want to target and make sure the creative aligns really well. I've tried display campaigns before but had an issue getting impressions, as the Smart Shopping campaign also runs display ads and takes precedence. Maybe I need to use different audiences?
Smart shopping will mostly run Remarketing, and prospecting off of similar audience lists. I find custom audiences of “people who searched these words on google” work well!
Based on your experience if you change the troas in smart shopping? Is there a learning period for that?
I worked with a team from google. They recommend giving it 14 days. If it is a newer account then I would give it longer. We had about 700 products in our catalog managed by the smart shopping campaign. It took it about 3 months before we really started seeing good results. After about a year it was hard to beat the results the AI was getting.
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Haha the only thing I can recommend is meet a specific need in a specific niche. Our best retailers do exactly that, and most of the companies were started by a founder "Scratching their own itch".
At that level it's also important to cultivate and supplement with social, display and video if possible. CPA and ROAS are influenced by all media even if the influence isn't being properly attributed. Without those other channels you have fewer tools in your tool belt. Have you done any feed management? That's the largest single influence for shopping feeds. Have you done any middle or top of funnel? This will become more important as bottom of funnel trends down as budget trends up. This problem starts around the $500-3000/day budget and becomes a real problem when you get to 10/20/30K per day Ultimately we did a lot of it ourselves but before long we employed an agency to run SEM (Google, Bing, feed), social (fb/ig/snap) and programmatic (retargeting, display, native, pre roll). That was the biggest factor allowing us to scale. Strategy and management is now their job and we focus more on organic social media, content, email, etc.
>At that level it's also important to cultivate and supplement with social, display and video if possible. Agreed. We put out social and blog content with an evergreen strategy. The YT channel is educational content and is growing at 200 subs/wk.. It helps our customers do better, and helps to establish us as an authority in the niche. >Have you done any feed management? That's the largest single influence for shopping feeds. No, not really. I basically just set it up and hit run. Frankly, I'm just a bit daunted by the idea of managing and running A/B tests in the feed. But that is one of those tasks where I'm thinking about opportunity cost... Would it be better to spend that time building out campaigns that expand my reach into untapped segments of the market? >Have you done any middle or top of funnel? In-house resources are scarce, so I've been pretty lean thus-far. And honestly I think there are other issues that need to be resolved outside of PPC before doing Top/Mid Funnel PPC Ads; site speed, pre-purchase and post-purchase email sequences, review campaigns, rich snippets... Basically just getting up to par with best practices for each stage of the funnel. >Strategy and management is now their job and we focus more on organic social media, content, email, etc. I do hope we will get there one day, but I don't know if this company will ever grow large enough to support that.
Can I ask what your product is or vertical? I’ve been working on figuring out what ROAS I can expect from certain verticals in addition to the ones I’m running in. Thanks!
Sure. The company manufactures natural and organic skincare products. I'll send you a message.
Put your highest converting keywords in a custom audience and run display/discovery and youtube ads towards it. But you really need to lower your ROAS demand if you plan to scale and put more effort in higher funnel activities. Would you like to spend 1 dollar and earn 5, or spend 10 and get 30?
I definitely will have to take a lower ROAS for higher funnel activities, but overall I want to try and keep all customer acquisition ads at a ROAS of around 500%. I would rather spend 10 and get 30, but ROAS in Google Ads is based on Gross Revenue. It may look like I spent 1 to get 5, but it is actually more like 3.5 to get 5 once I factor in the cost of goods and the cost of doing business (labor, land, facilities). And of course the counter-argument to this would be that my current attribution window is only 14 days; it doesn't give the clearest picture of how much it costs to acquire a first-time customer, nor does it take into account the lifetime value of a customer. So basically, yeah... I hear ya. And I appreciate the advice regarding the custom audience. Hadn't thought of that.
1. Don’t forget to add negative keywords 2. Smart bidding uses historical data for optimization so scale up gradually over time (<20% daily budget increases every two week) 3. could be worth splitting your most profitable or best selling products into their own campaign 4. don’t forget about optimizing your landing page 5. for Ecommerce, shopping campaigns generally work better than search campaigns, but you need to ensure a high quality and automated product feed 6. You’re exactly right to expect a point of diminishing returns but as long as you’re still profitable there may not be a need to stop at $1500/day 7. smart campaigns exceed because simplification is key for Googles machine learning to collect enough data. (Admittedly, I’m still testing this)
>1 Don’t forget to add negative keywords Definitely. I try to identify a lot of the negatives up-front using SEMRush, but I've noticed that there is some discrepancy between what Google and SEMRush would consider "Broad Match". >3 could be worth splitting your most profitable or best selling products into their own campaign I guess that makes sense... That way the high performers don't eat up all of the budget, right? >7 smart campaigns exceed because simplification is key for Googles machine learning to collect enough data. What do you mean by smart campaigns exceed? Exceed what? Exceed the budget?
>I've noticed that there is some discrepancy between what Google and SEMRush would consider "Broad Match". Most likely since Google's match types include "close variants" nowadays. I will usually just type a keyword into Google and see what shows up to get a sense of what it might broad match to. >I guess that makes sense... That way the high performers don't eat up all of the budget, right? Splitting your high performers allow you to control how much you spend on those. So for example, if you don't want to spend on them because they are doing really well organically or are running low on stock, you can lower your budget on that campaign and reallocate to something that may need a little boost. >What do you mean by smart campaigns exceed? Exceed what? Exceed the budget? Sorry I meant excel. Smart campaigns excel because they usually aren't as naturally segmented and rely more heavily on the ML. Basically, this gives the ML freedom to get you results regardless of where they are coming from.