Last October, Google Product Search officially became Google Shopping – shifting from a free feature to a pay-per-use service. This change has caused substantial confusion among online retailers, creating a unique opportunity for your business to get ahead of the competition.
Is Google’s new pay-per-use shopping model right for your online retail business? When executed correctly, yes.
Google Shopping Benefits for Online Retailers
According to the 2012 Holiday Online Retail shopping report released in January by digital marketing group Kenshoo, Google Product Listing Ads (PLAs) outperform traditional text-only ads:
- Google Product Listing Ads (PLAs) capture about one and a half times the click-thru rate of regular text ads (2.73% vs. 1.86%)
- PLAs convert 23% better, generating a 31% higher ROI
Since PLAs are relatively new, we are currently in a period where competition for PLAs is low, which is leading to inflated ROI and click-thru rates. Retailers that move quickly are rewarded with big gains and minimal risk exposure. Your business cannot afford to sit on the sidelines. Early adopters have theopportunity to establish themselves as major Google Shopping players.
Google Shopping success is dependent primarily on two key metrics:
- Maximizing conversion rates
- Maximizing cart value
If your business currently succeeds with paid search, then your business is well positioned to succeed with PLAs. When used correctly, Google Shopping naturally complements your existing AdWords campaigns and online marketing efforts.
Google recently integrated Google+ with PLAs. Now shoppers can read their friends’ user reviews and share feedback with Google+ connections. This enhanced social media integration adds an important feedback loop and increases the significance of user-generated product reviews. Managing online reputation and customer service will be increasingly important for Google Shopping success in 2013.
The online marketing experts at Wakefly can help you get started with Google Shopping. We’ll show you how to maximize the conversion rates and cart values for your PLAs. We’ll even spend an hour of your time walking you through the process – all for free.
Don’t let the competition beat you to Google Shopping. Contact us today to get started.