Since Google Shopping first launched in 2012, consumers have been able to browse the internet for the product that they want without ever having to leave the Google Search results page. This shortens the customer journey and makes Google Shopping Ads more likely to draw in conversions than any other type of advertisement on Google.
But, what does it take to achieve success with Google Shopping? Is there some kind of secret strategy that marketers have been hush-hush about? Let’s find out today in this interview with Fredrik Lindros, an expert authority in all things lead-generation, marketing, and new technology.
Thank you for taking the time to answer our questions for the day! Now, why don’t we start with a short introduction? What do you do for a living?
Fredrik Lindros: Of course, you’re welcome! I’m the current CEO of Speqta, a company that we founded to simplify consumer decisions and enable e-retailers to succeed in the digital space via innovation. In school, I studied finance and marketing, but my passion has always been on discovering new technology — like our newly-released AI-based growth automation and bidding tool for Google Shopping, Bidbrain™.
As a bit of an ice breaker, can you tell us something about yourself that not many people would know? Or, at least, would be surprised to know?
Fredrik Lindros: This ties back to my love for new technology, so it might not be all that shocking, but it is something that I usually do not openly discuss. That is, that I was completely obsessed with sci-fi shows as a kid (and even now, to be completely honest!) Star Trek, Battlestar Galactica, and everything in between. You name it. I’ve probably watched it a couple of times, and then some!
Also, would you believe that I was a professional magician once upon a time? I did professional shows and everything. And, while it may sound like it’s completely out of the leftfield considering my career now, my time as a magician actually helps me out plenty these days. At least, in terms of presentation, communication, and marketing. All of which the shy, pre-magician version of myself had struggled with all my life.
Now, before we dive straight into our main subject. How would you describe the value of Google Shopping Ads for those that are just starting out?
Fredrik Lindros: Even though Google Shopping has been around for a while, for many, it’s very much akin to a new frontier — unknown but filled with plenty of opportunities for growth and expansion. This is true even though it now makes up almost 80% of retailer search ad spend and wins over 85% of all clicks.
In all, there are three major benefits that Google Shopping ads have over other alternatives:
- High-Intent: Consumers don’t just stumble upon Google Shopping ads accidentally; they appear only when someone is purposefully making high-intent queries on Google Search.
- Image-Based: When compared to regular search ads, shopping ads appear with rich images that are more enticing to the eye, and thus, more likely to earn a click.
- Increased Visibility: By nature, Shopping ads are also able to draw more attention because they appear at the very top of search results — and thus, on top of regular search ads.
So, altogether? If we’re talking about value-added, Shopping Ads are definitely able to back up their play. This is, in large part, why we developed Bidbrain™ — to support e-retailers that are looking to optimize their sales and profits through Google Shopping Ads. We wanted to make this space easier to conquer, allowing our customers to reap all the benefits without worry.
Please explain further, what is Bidbrain™?
Fredrik Lindros: As mentioned earlier, Bidbrain™ is our newest product. It’s a marketing platform that we developed with Artificial Intelligence (AI) to help merchants and agencies bid smarter and generate new business through Google Shopping ads.
And, how can e-retailers use Bidbrain™ to, as you say, optimize their sales and profits through Google Shopping?
Fredrik Lindros: If I were to break down Bidbrain’s value (like I did earlier with Google Shopping Ads), I think it would also come down to three main factors:
- Increase in Conversions and Sales: When using Bidbrain™, there is a detectable increase, averaging at +20-50%, in sales at your desired Cos-% (Cost of Sales) or ROAS (Return on Ad Spend).
- Full Transparency: When it comes to bidding, Bidbrain™ works on your side. Everything happens on deck, it works transparently, and you have access to full insights — like on your highest and lowest performing clusters and how you can improve them.
- AI at your fingertips: As an AI-based system, Bidbrain’s algorithms are always on and always learning. It’s capable of granular bidding on 5,000 to 10,000 different clusters and simulations that will allow you to outperform your existing account and your competitors!
Altogether? It’s almost unfair how big of an advantage a tool like Bidbrain™ can give you when it comes to Google Shopping Ads. That might sound self-serving, but the truth lies in the numbers and our early testing has shown only results that are more than positive.
Now, to wrap up this interview! Please tell us, once and for all, what does it take to achieve success with Google Shopping Ads?
Fredrik Lindros: We at Speqta saw the rise in popularity of Google Shopping as an opportunity to expand on the available options as far as bid-optimization goes. We wanted to do it as smart as possible. So, my advice? Utilize the transaction data you have, in a way that will gain advantage against your competitors. And while it may sound self-serving to say, if you haven’t already, pick up an AI tool that will be able to help you bid for traffic smarter. Sometimes, it really is just as simple as that. Don’t make it unnecessarily complicated for yourself by trying to tackle it all on your own.
It doesn’t even necessarily have to be Bidbrain™ either. Google’s black box bidding strategies have been known to work for some, although if you want an extra advantage against competitors, you’ll probably want something else. There are also plenty of other automated bidding tools out there from third-party alternatives like Bidding Lab, Optmyzr, or Acquisio. It’s just a matter of opening yourself up to what AI can do for you. And trust me, it can do a lot.