VersaFeed's FeedBack system now integrates Google Shopping campaign key performance indicators (KPIs, like ROAS and CPC) into the VersaFeed system. Clients can now view KPIs at the Item, Brand, and Category level — and create Custom Labels based on these new stats.
FeedBack provides metrics like Cost, Clicks, Impression Share, ROAS, and more right inside the VersaFeed dashboard. You can view these metrics across many time ranges (e.g., Last Week, Last 30 Days, etc.) and you can aggregate these metrics across any feed attribute (Individual SKU, Style ID, Brand, Category, etc.).
This new technology enables two exciting usage scenarios:
Setting Dynamic Custom Labels
For example, you can now set a Custom Label in the Google feed based on the ROAS of the item. You might set custom label 4 to "ROAS 20+" for items with an ROAS of 20 or more. In your Google Shopping campaigns you could use a Custom Label to bid up high ROAS items. Or vice-versa, where you tag low ROAS items and bid those items down.
You might also use a Custom Label to move items to a higher priority campaign, or, use them as a campaign level filter — both which could enable you to change not only the bids, but the budgets as well.
You can base the ROAS KPI on metrics over any time period. If you're looking for longer term trends, you can set date range to Last 90 Days to create the metric. Looking for short term trends? Set the date range to Last 7 Days (enabling you to find short term profit boosters).
You can also set up Custom Labels based on multiple KPI's like Impression Share, Cost, CPC, etc. A common use case by VersaFeed has been experimenting with low impression share items that also have high ROAS (i.e., lost opportunities); these types of items can easily justify an increase in bid.
The KPI's can also be aggregated. Merchants looking for larger trends might aggregate ROAS across Brand and Categories vs. Individual SKU's or Style ID's. Using metrics across these large product sets can provide reliable indicators on ad performance.
Lastly, when creating Custom Labels based on KPIs, that metric is re-evaluated every time we create the Google feed. So it will always be up-to-date and relevant. If you set bids or budgets based on these KPI's, you can be confident that they will adjust as the metrics shift over time. In this fashion you could automatically bid up items that are only profitable during the holidays, and the items will automatically bid back down as profitability drops post-holiday (with no work on your end!)
Reviewing KPI's in the VersaFeed Dashboard
Via the new Google Ads Performance link in the dashboard (FeedBack > Google Ads Performance), we have created 9 example searches that highlight various KPI's in actionable ways — right on VersaFeed.com.
These searches showcase many of the concepts noted above:
- Finding high and low ROAS items
- Aggregating performance metrics across things like Brand, Category, Item Goups, and Individual SKU's
- Viewing KPI's over various date ranges
- Looking at other metrics like impression share and how they can identify opportunities
Beyond these example searches, you can also access the KPI data via a Google feed search by clicking "Options" then "Merge Google Ads Performance Data".
Gotchas: Please note that when viewing performance data in VersaFeed you will see rows tagged as "(Not in feed)". These can be safely ignored. They exist because Google could not properly attribute the data, or the item/brand/category is no longer in the current Google feed.
Google Ads Performance enables clients to quickly find items that may need attention for reasons both good and bad:
- Sorting to find high "Conversion Value" allows clients to quickly review their high-value items and ensure critical product attributes like title, product_type, and images look appropriate.
- Sorting on low ROAS enables clients to see Items, Categories, or Brands that are weak performers. Do these items need a feed tune up, pricing adjustment, or maybe just a penny bid to lower spend?
By sorting on specific performance indicators clients can gain insight into their catalogs and adjust where needed.
Interested in setting up VersaFeed's KPI FeedBack system? Check out this other post for more technical details on setup, or, contact your account manager at support@versafeed.com.
Note: VersaFeed's KPI FeedBack system is not available for all accounts and may require additional fees in some cases.