Your market and every customer in it is unique with their own set of demands and needs. The goal is to identify their individualities and try to adjust to the customer’s specific needs, and if you do it the right way – it will also be very profitable for your business.
How to customize ads in the best possible way
Growing competition and fragmentation are some of the challenges a digital agency meet today. Customers are interacting more than ever with brands and companies, and every company wants to attract attention. This will only continue to grow and it’s becoming more important to personalize and customize your ads to target the right customers. Read more: How to customize your marketing with Google Ads.
Let’s say that you’re working in retail with various brands, around 10 000 products, including top brands like Asics, Under Armour and Nike, and you want to optimize your company for revenue. If you go by the principle of one-size-fits-all and you want to bring in the most revenue you can for those brands so you set the same price for the ads. But the probability that they all perform the same isn’t very likely. A customizable principle means that you’re instead working with those brands but you set different prices on their ads. Maybe one of them is much more profitable than the others, so you set a higher price on that because you know you will get more revenue there.
One important aspect is to look at the relationship between ROAS and pricing. You need to figure out how your pricing affects the outcome of your advertising, how your pricing is compared to your competition and how that affects ROAS.
In this example, Under Armour has a low ROI with pretty high prices, bit if they would lower their prices, they get the bubble to move more to the right. Maybe they’ve set up the pricing the wrong way. You need to not only look at features in Google ads but also to understand the business. If you look at the other example with Nike and Asics, you can tell that the price is also pretty high but the ROI is also much higher.
Learn more about ROAS and how to set ROAS Targets: The ultimate tool for setting your ROAS Target in Google Ads.
A winning example for raincoats
An example of how you can optimize for revenue with a customizable solution is a third-party software Keywordio have developed with an integrated weather solution with API. So let’s say that you are selling raincoats. Our solution takes weather data into account and updates data – on city level – every hour. This means that you will know for sure when it starts to rain in Tokyo – why it would probably be a great idea to increase the bidding on the raincoats at this particular moment. When it rains – you will be number one.
The main thing to remember is that we never do the bidding the same way, and it will prove valuable to your company to customize your Google ads. Think of it like you are being the bouncer at a nightclub. You need to figure out how many visitors you can let in at your club. Obviously, you want to keep the troublemakers out, let the thirsty ones in and create a good vibe inside. You can think of Keywordio as the bouncers of a website. We’re regarding all customers as unique and analyzing them separately, creating the best possible solutions.
It’s more important than ever to appeal to customers in a personalized way. Customized ads are a great way of reaching out in a smoother, more personal way without risking a potential customer feeling pursued or exposed. You create another kind of communication that lets your customers feel that they are being treated as individuals. Some of all the benefits of customized ads are that acquiring new customers cost more than working on keeping your existing ones. Therefore, using customized ads will work better in appealing to the customers you already have and make them return to buy. Customized ads will be more relevant and thereby resulting in more profit since your customers come to prefer them above others.
Keywordio is specialized in online marketing and solutions for customized Google Ads. If you want to start using customized ads or enhance the way your current ads are operating, feel free to contact us. You can also read more about Google Shopping here: 6 Google shopping tips for your e-commerce.
It is possible to combine augmented reality and Google Ads, a powerful mix! If you would like to know more, join us at the Webinar on June 12, 2019 at 12:00 AM : How AR and AI will improve your e-commerce revenue from Google Ads.