The digital marketing has a lot of happenings in terms of updates. From media buying into Google Feeds, updates are storming into the E-commerce world. As an e-retailer, you should know these changes during a good time to ensure blockbuster sales in the upcoming Christmas season.
We have one from the Google Merchant Center and another from the Google Ads, which can define the success of any E-commerce strategies. Let’s start with a big announcement for the Google Merchant Center account holders that have become a recent trend in this world.
No Need of UPI
Those who are on-the-board of the Google Merchant Center have a moment to cheer. From September this year, the E-commerce retailers would have an option, i.e. to have or not to have the UPI for selling products in the global marketplace. The center would not disapprove your request to sell through shopping ads. However, those with the correct UPIs now appear in the foremost place amongst all ads. Simply say, they have gained a priority in the lane of shopping ads.
Here is a list of countries that are undergoing the changes- Australia, Austria, Belgium, Brazil, Canada, Czechia, India, Denmark, France, Germany, Italy, Japan, Mexico, the Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, Turkey, the United Kingdom, and the United States.
It is a short for ‘Unique Product Identifier’. The common UPIs comprise Global Trade Item Numbers (GTINs), Manufacturer Part Number (MPNs) and brand names. These vital details support this center to let your products stand apart from the crowd in the global marketplace, where N numbers of similar goods are on-sale. With this identity number, the merchant center achieves transparency to assign correct offers to distinguish manufacturers.
- Enforcement Updates
Earlier, it was mandatory to provide a correct UPI so that it can facilitate the best experience for the customers. This unique number is handy for Google also to recognise that the particular products belong to your brand. The merchant center used to abandon retailers who were deprived of this identifier number.
The non-availability of this unique number has constrained the performance of the items. It clarifies that your ads would occupy place after the competitors who have successfully attributed UPIs to “true”. So, prefer to share the correct identifier number, if you really want to maximize the performance of your products online.
On the flip side, those who have the identifier number & the center has evidence, but they have incorrectly set it to “false”, their ads would be disapproved. According to another standard, the sharing of same GTIN across multiple different products is considered ambiguous and hence, disapproved.
The e-Commerce retailers can improvise the relevancy of their ads for the prospective customers by submitting correct GTIN and MPNs. If you want to get it, place a request to the manufacturer.
- Why is it significant?
The sale is a play of visibility and exposure in the E-commerce marketing era. Google shopping ads offer its shopping ads space to occupy and display your products. The foremost search engine processes over 40,000 search queries every second on an average, which measures over 3.45 billion searches per day and 1.2 trillion searches per year across the globe, as per Internet Live Stats.
These statistics are enough to explain that no other than this platform can create a buzz about your brand, which now does not need UPIs to share with. Moreover, the UPIs-supported ads are incentivized with the correct data in feeds. These feeds are crucial to stay ahead of your curve, where multiple sellers advertise for the same products.
Cart Metrics in Google Ads:
The E-commerce retailers are likely to achieve a breakthrough in the form of the “cart conversions columns” in Google Ads. These paid ads are going to let you catch up with the E-commerce cart data, which enriches you with its insights. Besides, you can derive profitable ideas through the cart transaction data.
- Cart Data
The cart data is the collective information generated from the number of transactions, revenue and profit from the shopping ads. How many items have been sold-it requires no assumptions, but the sheer facts through the cart data. The revenue and profitability via ad metrics could be apparently known. Besides, the cart size can help you to evaluate an average order value. Generally, the Google Ads Conversion Tracking (GACT) can show purchase/ sale conversions.
- Why is it required?
The cart data can let you interact with orders, average cart size, average order value, cost of goods sold, gross profit and revenue. These datasets collectively help you to sense of the profitability driven through the shopping campaigns. Besides, you have an opportunity to work on the optimization of those campaigns for triggering more profit.
The product-level columns provide insights, which bear the idea of which products are most likely to convert and drive higher order values. Even, you can easily assume when the click can convert upon being clicked. Also, analyzing the effect of geographic location and an access through cross-devices can let you define the cart size, profitability and an average order value.
The changes in the Google Ads conversion tracking are undergoing the beta-testing. These are found in the cart data columns as:
- Orders: Sales via ad clicks.
- Average cart size: Sum of items in-cart by number of orders.
- Average order value: Revenue from clicks on ads by the number of orders attributed to ad clicks.
- Cost of goods sold (COGS): Total costs pertaining to a product.
- Revenue: Income from transactions pertaining to ad clicks. It can be calculated by summing up the price of items in a cart pertaining to the clicks.
- Gross profit: Total profit from transactions attributed to an ad click. Calculated as Revenue minus COGS.
The Report Editor will show these metrics of the products purchased from the ad campaigns:
- Units sold: Total number of sales of a product
- Product revenue: Total income from a product
- Product gross profit: Total profit from a product
- Product average COGS: Costs pertaining to the product by the number of products sold, and weighted by product impressions