Predictive Technology Hopes to Improve Revenue on Google Shopping Ads
Consumers love little more than a good deal.
Google Shopping is often used to find and compare deals because its mulitple listing for the same product on a single page. For merchants, advertising your product on Google is one of, if not the most, important thing you can do (after building a quality product of course).
Kenshoo, a supplier of predictive media optimization technology, has announced full support for Google Shopping campaigns which includes a patent-pending bid policy constructed specifically for the search engines shopping platform.
By leveraging their predictive capabilities, Kenshoo’s new bid policy will analyze and predict revenue per click in order to help generate the best return on investment (ROI) for Google Product Listing Ads (PLAs). Kenshoo hopes to improve ROI by eliminating money spent on underperforming ads and producing relevant negative keyword suggestions as well as product level reporting.
“PLAs have proven to be an immensely successful ad format for retailers with global retail PLA spend increasing 138 percent year-over-year this past holiday season,” said Will Martin-Gill SVP, Product for Kenshoo. “As Google transitions PLAs into Google Shopping, our advertisers want more PLA control and flexibility from Kenshoo. We’re not only the first major third-party bid management platform to offer support; our proprietary algorithm and functionality maintains the same high standards that has earned us recognition throughout the industry.”
An added bonus is that merchants using both Google PLAs and Facebook ads will be able to activate Facebook ads. Merchants can do this through Kenshoo Demand Driven Campaigns (DDC).