crealytics' PPC Blog


The place to be for paid search and Google Shopping

3 Reports to Optimize Your Procurement Strategy

Are you buying too much stock, stuck with deadstock, purchasing the wrong products, or pricing products ineffectively? In order to refine your procurement strategy, you should be tracking all of these aspects.

TradeGecko recommends these three reports (Yield Management, Inventory Turnover, and Merchandising Strategies) to help you increase efficiency and profitability, whilst allowing you to optimize your procurement strategy:

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Get the product price right for Google Shopping

New Crealytics feature: Price Advisor

Google Shopping takes product price transparency to a new level. Unsurprisingly, people tend to click on the cheaper product when the same product is sold by multiple retailers. This human tendency, means that Google’s learning algorithms will often surface the cheapest products first even if they don’t have the highest bid.

The result, is that if you sell the same brands or products as someone else, where your product price falls in relation to your competitors, heavily influences your traffic and conversion volumes. Product price becomes, next to the bid, the most important factor to attract shoppers on Google Shopping.

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Which product variant is a shopper more likely to click?

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How to determine price competitiveness in product advertising

As we covered previously, how your price compares to that of your competitors has a huge impact on the success of your Shopping campaigns. Price your products too high and Google will display them lower in the paid results or refuse to show them at all. Price too low, and you lose margins – a race to the bottom is never fun.

The key to a good pricing strategy is to identify a few high-impact products and make sure that they are priced correctly within the competitive landscape. To do this, you’ll need a way of measuring how pricing affects your Product Advertising efforts on Google Shopping.

Focus on products with a lot of impressions, since these products play a huge role in acquiring new shoppers, a few key price adjustments can have a dramatic effect. Sounds simple in principle, but the reality is slightly more complicated.

Here’s how you can identify which products you should be monitoring, how to do that monitoring at scale and how to derive actionable insights from the data you collect.

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The role of price on Google Shopping performance

Naturally, product price has an impact on everything in eCommerce, but when it comes to Google Shopping this impact is incredibly severe. A simple 5% increase in price produced a whopping 60% drop in clicks while keeping the bid stable. It certainly appears as though impressions and clicks in Shopping are very sensitive to pricing, more specifically how your price compares to all the similar products on Google Shopping.

For a deeper insight into what is actually going on inside Google Shopping, we analyzed a dataset of more than 15,000 Google Shopping client conversions across the German, UK and US markets covering several international retailers from the fashion, sports, outdoor and luxury sectors.

What we found shed a lot of light on how price affects Shopping performance and why. It also gave us some insights into what retailers can do to turn this phenomenon into a positive for their business.

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