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Google Merchant Center Launches New Price Competitiveness Insights

author image Written by: Nicole McCormick           Categories - In The News

New Google Merchant Tools Allows Advertisers to Better Compare Pricing Among Competitors

With so much uncertainty during this unprecedented time, Google Merchant Centre has given us a small treat to tide us over in the form of Price Competitiveness Insights. These insights, which can now be found under the Growth > Price Competitiveness tab in the Google Merchant Centre, will help advertisers better understand how their pricing compares to competitors. The dashboard does this by providing a visual summary of your price competitiveness along with options that allow you to narrow down by product type, brand, category, and product.

Wait, Haven’t We Seen This Before?

You might be wondering, how is this any different from the price benchmarking data you’ve seen before in Google Ads? After all, comparative pricing isn’t exactly a new or revolutionary concept for Google. While advertisers can see how their product pricing compares to competitors using Google ads, there are some key differences and additional benefits to using the new Merchant Center tool that we will dive into below.

Easy to Use

This new tool is both highly interactive and easy to use and allows users to focus in on particular pricing trends and analyze any changes that are driving this change in price competitiveness.

Allows You to Map Trends Over Time

Another great feature is the ability to capture various snapshots in time by looking at illustrations of day-to-day trends using the date filter.

Access to More Comparable Data

The price competitiveness report offers price comparisons using Global Trade Item Numbers (GTIN) to give you a better look at the different prices across various sellers. This is different from Google Ads benchmarking data which includes pricing for all Stock Keeping Units (SKU) that often skews data sets.

Create Thorough Summaries

With the Merchant Center tool, users have access to more meaningful summaries for each segment compared to Google Ads benchmarking data, which only offers the product price and benchmark product price at whatever level they’ve segmented. Users will get to what percentage of their products in a given segment are above, at, or below the benchmark price along with the percentage of products that have no benchmark at all. Users can even narrow down which products fall into each of those buckets. As you can see, this new tool is great news for advertisers, as it provides a bit of clarity regarding the SERP dynamics that sway performance and how they fluctuate over time. Now the question is – will you be taking advantage of these new insights.

Nicole McCormick

Nicole is a wordsmith wizard, passionate about the written word and an avid storyteller who uses creatively crafted prose to help bring your brand’s story to the next level. A former journalist with writing credits in both local and national news publications and a few newspaper awards under her belt, Nicole now enjoys telling your stories and finding new and creative ways to create valuable content that resonates with audiences in the digital landscape.

Google Ads Announces Top 3 Priorities for 2022

02/17/2022

Google Ads is working on a better experience for its users and it shows. They announced their top three priorities for this year, and it’s all about focusing on automation, measurement and privacy.

Shifts in consumer behaviour are a hot topic during the pandemic, and Google knows this. Vice President and General Manager of Google Ads, Jerry Dischler, talked about how these shifts come with both challenges and opportunities, according to Search Engine Journal.

The Privacy

Think about yourself as a user now – you want your privacy, you cherish it and you only want to share it with people and brands you trust. So it does become frustrating to hear about different privacy violations and you do become a bit sceptical about it all. Google knows this and knows how important it is to maintain it. You have to work on your relationship with your users and customers in order to get those first-party data. How? That’s up to you/ But focus on this:

  • Build direct relationships
  • Ensure measurement remains accurate and actionable
  • Keep your ads relevant

 Automation

Performance Max and Discovery campaign types – these are the two focuses in the Automation pillar. They both centre around reaching users at scale from a single campaign. According to Google, these types of campaigns offer the following advantages:

  • More simplicity in management
  • Multi-channel reach
  • Greater ad inventory
  • Incremental conversions

Google recommends using Smart Bidding, responsive search ads, and broad match keywords for campaigns that target single channels such as Search, Display, and YouTube.

Measurement

Measurement will be tough in the upcoming times, especially because of the announced removal of third-party cookies. Without measurement, it’s hard to tailor the strategy to success and without it, it becomes more difficult to prove the value of your marketing. That’s why Google is rolling out new solutions, which will rely on your data and privacy-safe APIs:

  • Enhanced Conversions
  • Conversion Modelling
  • Consent Mode
  • Data-driven attribution
Read The Entire Google’s Blog Post Here

 

 

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Google Ads API Version Is Available

02/10/2022

Google has released a new version of its Google Ads API (application programming interface) – the v10. Using APIs, developers can create and use applications that interact directly with account information on the Google Ads server. APIs like these let advertisers manage large Google Ads accounts and campaigns efficiently.

The new version, which is set to see the light of day on April 27, comes with a bunch of new stuff developers can work with. Smart campaigns, Performance max campaign upgrades, Local service ads changes, Audience resource, and more:

What’s New?

These are some of the novelties that came with version 10:

  1. All Get methods are removed
  2. New Meta parameter
  3. Smart Campaigns are now generally available
  4. Support for Local Service Ads are added
  5. New Status field on Customer and Customer Client resources

 

  • To be able to use the new features, you must upgrade your client library and client code.
  • Also, if you’re still using AdWords, you must migrate to the Google Ads API by April 27 since AdWords is retiring!

Why Is This Important?

Advertisers can use the API to pass account data to other applications they use. It also assists them in managing larger accounts and campaigns. API users will have more flexibility with the tool since it now supports more of Google Ads’ latest products.

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