The price competitiveness report started rolling out in Google Merchant Center (GMC) for eligible dealers last week. This new file can show you the way your fees evaluate to other merchants selling and promoting the identical merchandise in Google Shopping campaigns.
How to get commenced. The file, in beta, is positioned under the Growth phase within the left-hand menu in GMC. To join, you first should decide into the Market Insights program. “Additionally, the account the usage of this system need to meet sure minimal necessities for participation in Shopping ads or Shopping Actions,” says Google. Per the policy, you are not allowed to repackage, promote or embed this records elsewhere.
What the report shows. You can see the rate competitiveness of your products — whilst the information is available, more on that later — via class, u . S . And brand. From there you can drill right down to see person product benchmarks.
The statistics goes back to October 14, 2019.
How to use it. One subtlety to note is that the document displays the proportion of Shopping auctions — rather than the number of product — wherein there was or became no longer a benchmark charge.
Depending on how broadly the products you promote are searched and promoted with the aid of other merchants, you can see a excessive percentage showing “no benchmark rate.” In the instance underneath, 68% of the vendor’s Shopping marketing campaign auctions didn’t have sufficient data to establish benchmarks during the term. You can click on any of the segments to dispose of them from the chart under.
The “above benchmark rate” segment indicates the proportion of auctions wherein your products had been greater than 1% higher than the benchmark. “At benchmark price” shows the proportion of auctions in which your products have been within 1% +/- of the benchmark fee, and “beneath benchmark charge” represents auctions in which your products were at least 1% higher than the benchmark.
You can then dig into the product-degree reporting to peer the range of clicks a product has obtained during the time-frame decided on, your price vs. The modern benchmark charge and each the modern-day and historical differences of your product as compared to the benchmark, as proven below. You can filter, type and download the file as well.
Why we care. Product pricing can play a massive role in both product visibility and site visitors out of your Google Shopping campaigns, as studies by means of Crealytics has proven. And as we mentioned remaining April, Google has been announcing that rate competitiveness and seasonality will “quickly” turn out to be elements in clever bidding for Shopping campaigns.
You might not have the energy to set or exchange product prices (although you may proportion this reporting with the groups that do), but this report can assist add some other measurement in your analysis and tactical decisions in your Shopping campaigns.