I was blind, and now I can see!
That is the type of response I am hoping to get from you once you are done reading this article.
It might not be quite as dramatic as that, but there is a possibility that the 3 tools I’ll be talking today are going to do handling your Google Ads campaigns much easier, improving your results on the way.
Let us begin;
While Google is generous with a number of tools it provides to assist you to plan & manage campaigns, with regards to evaluating your competition, there are not many tools readily available, and evaluating your competition is a must.
Auction Insights is among the few tools at your disposal here, and once examined and acted upon frequently, can go a considerable way in assisting you to get more from your ad spend. Basically, it enables you to compare your campaigns with that of your competition and show you where you are doing better and at which you aren’t. It may also highlight new and untapped opportunities for you to explore. (Click here to expand the below Image)
You’ve got six KPIs to evaluate campaign against your competitors:
1)Impression Share: A measure of how frequently your brand Ad shows up at the auction.
2)Average Position: The average rank of your ad.
3)Overlap Rate: How frequently another advertiser’s ad received an impression at the same bid as your ad received an impression.
4)Position Above Cost: How frequently another advertiser’s ad from the same auction is in a higher position than you very own when both your advertisements have been shown at the same time.
5)Top of Page Rate: your ad was shown on top of the page in the search results.
6)Outranking Share: How frequently your ad ranked higher at the auction than another advertiser’s ad, or if your ad showed when theirs did not.
Making sense of the Auction Insights data
Below are a few ways you can Auction Insights can give you insight into your campaign, help you identify areas for improvement as well as give you a picture of the competitive landscape;
- Determine how much your competitors may be spending based on impression share. By way of example, if you know your display quota is 50 percent and another competitor is 75%, you can estimate they’re spending than you. Yes, there’ll be other factors like Quality Score, maximum bids etc., however, it may be a useful indicator nevertheless.
- Get a quick summary of how nicely you have got your campaign set up by looking at the typical positions – from the screenshot above, you have obtained an average position of 1.2 which informs you that your campaign is performing a lot better than most of your competitors.
- See who your most important competitors are by looking at the overlap rate. For instance, amazon.com seem to be showing more frequently at the exact same time our advertisements show which will be an indicator they’re most commonly bidding on the very same auctions.
- Identify competitor campaigns doing better than yours by looking at the Position Above Rate. In the above example, amazon.com advertisements are showing higher than ours just over half the time for searches where both advertisements were shown at the exact same time.
Note: Auction Insights is only available for the Google Search Network and Shopping campaigns. For Shopping campaigns, it only provides 3 metrics which are Impression Share, Outranking Share, and Overlap Rate.
2.Drafts & Experiments
This is the least used but most valuable tool at your disposal at Google Ads, and it has the potential to elevate your Return on Investment (ROI) quite appreciably.
To put it simply, the Drafts & Experiments attribute of Google Ads allows you to run divide tests of advertisements to test significant factors like the following, to name only a few;
- Bid strategies
- Landing pages
- Keyword matching options
- Ad copy
- New keywords
Why utilize Drafts & Experiments?
Though there are lots of advantages of conducting split tests, the two I have found to be valuable are these;
- You may create and run new test campaigns without affecting the performance of your main campaigns.
- You can easily test new components like Landing pages that could make or break your campaign at minimal risk by devoting only a small percentage of your overall ad traffic.
The below screenshot will illustrate the power of Drafts & Experiments (Click here to expand the below image);
A test for a brand new Landing page revealed that it had a rate of 500% higher conversion and delivered a reduced (75%) cost per conversion! Extrapolate that information over a 6-month period plus a small experiment like this could have saved you thousands!
A few limitations of Experiments & Drafts to be aware of;
- It’s accessible for Google Search and Display campaigns only.
- It cannot be used for Shopping campaigns, App install and YouTube
- You cannot utilize shared budgets
- Changes you make to the first campaign will not reflect on your Experiments
- You cannot use automated bidding plans
- You cannot pause a working experimentation – only stop it!
- You cannot reactivate a past experimentation – you’ve to set one up again
Ready to take the plunge?
Hopefully, you are itching to run an experiment of your own – but wait, there is more. Here are a few further guidelines to bear in mind;
- In case your spending budget is limited, there is a smart idea to divide the traffic 50/50 as opposed to devote a smaller share to the experimentation to avoid having to wait a protracted amount of time before you see statistical significance results.
- Start with testing the most crucial elements first – Landing page and bidding plan (over two distinct campaigns) is generally a fantastic option for many small to medium-sized campaigns.
- Each campaign should only concentrate on testing one variable at a time – it is not exactly built for multivariate testing.
- In case your target KPI is something aside from conversion associated decide on what that’s before you begin the campaign.
3.Google Ads Scripts
For our final piece, we’ve yet another tool that may seriously lower your workload, but is underused; Scripts.
Here are a few common use cases for Scripts in Google Ads;
- Accomplish one-time, time-heavy jobs easily like renaming campaigns on all your accounts or upgrading the bids on all of your keywords.
- Save yourself time copying and pasting – readily output info from the Google Ads accounts into Google Sheets or even Excel spreadsheets.
- Create significant alarms like to check daily that your Landing pages are working or to inform you of keyword conflict.
- Automate tasks – on a limited spending budget and wish to pause your campaigns once your spending budget threshold is reached? No problem.