Author: Laura Davies, Head of Paid Search at Visualsoft
Yesterday (May 23rd, 2023), Google held its annual Google Marketing Live event, which showcases all of the latest ad product innovations coming up.
Google Marketing Live not only allows you to learn about the new innovations Google will be rolling out, but alongside this, you have the opportunity to expand your expertise by joining in the conversation with product managers and other industry experts.
The BIG topic of discussion this year was AI-powered solutions and how they can help you drive growth. For anyone who wasn’t able to attend the event, we at Visualsoft wanted to round up our key takeaways, which you can find below:
Multiply your results with Search & Performance Max
Google is calling this the “ads power pairing” as they will help you find untapped demand whilst driving incremental results from areas such as new search queries, channels, and audiences.
Drive better results in your search campaigns by combining your current knowledge with Google AI. The new Search Generative Experience will soon be rolling out in the US then in the coming months this will be tested and evolved in order to deliver the most effective solution.
View from VS: This rollout is a direct response to the recent SGE announcement. Google is essentially helping you use AI to match user queries as closely as possible to ensure relevance in the new search landscape. You will be having a conversation with Google Ads on how best to tailor your ads to users! Interesting to see how this will work in Ads Editor, though, not one for the bulk upload!
Increase sales with innovations designed specifically for retailers
If you are wanting to drive online sales, which most of us are, new Customer Lifecycle Goals are being introduced.
There will be a new customer acquisition goal in which you can optimise for high lifetime value and a re-engagement goal that allows you to connect to your existing customers who are of the most value to you with the aim of increasing retention.
View from VS: Lifetime Value is a hugely important metric that isn’t always taken advantage of, however, this is something we have been working on implementing into our strategies at Visualsoft for some time now.
These new goals will be key to ensuring you are pushing for performance across all of your audiences, both new and existing.
Enhance YouTube campaigns
With such a wide range of devices and content platforms available, we are seeing a hugely diverse range of viewing habits. That being said, YouTube still sits atop the video content pyramid, with 80% of viewers saying YouTube has the widest variety of content available.
With Google announcing its new Search Generative Experience you will soon be able to create YouTube assets utilising AI-powered tools.
Features of this will be horizontal, square, and vertical video ads - a vertical video can be made based on an existing horizontal video which can be used for mobile shorts. You can also add voiceovers to your videos using text-to-speech technology.
Another great feature coming soon is impact forecasting. This tool will let you view the impact certain ad settings may have on your campaigns - allowing you to make more informed decisions and changes to your account.
View from VS: Youtube has sometimes been an ad type which is a bit of a grey area in terms of how well it performs as you do not always see the direct return you want, and therefore users have shied away from it. However, the new impact forecasting tool sounds like a great way to showcase how a YouTube campaign can add value to your Google Ads account.
Improve your measurement foundation
First-party data is key; by adding this data to your Google Ads account, you are only strengthening the measurement on the account, which in turn should drive results.
There are multiple ways to upload high-quality first-party data, such as a manual upload, linking through a CRM, embedded workflows, and more.
More updates to come from Google on this one, who are currently working on a seamless and secure way for all businesses to be able to onboard and manage their first-party data.
View from VS: First-party data is so important as it is taken directly from the most important users that you want to learn from, these being your actual audience. With the search landscape becoming more competitive, it is becoming even more important to add as many signals as you can to your campaigns. However, as Google will be using this data to influence measurement, it is key to ensure you are only uploading high-quality data.
Accelerate growth with your app
New ways to help customers shop from your app was another feature discussed, with the aim to create a smooth web-to-app experience.
You will be able to turn your app into more of a storefront by attaching your product feeds in order to showcase your product inventory. Use promotion assets to showcase any offers customers may want to apply, and you can also apply seasonality adjustments which will allow you to bid at the right times to the right users.
View from VS: Putting ourselves in the shoes of a potential customer, we would want to see what the products look like, and it's always great to know you can save money on an item you are wanting to purchase.
From a business perspective, by adding any unique information into your ads, you are giving yourself the opportunity to stand out from your competitors.
Activate new features in Display & Video 360
The big topic of conversation this year, in particular, has been privacy, meaning businesses have had to find new privacy-centric ways of reaching their customers.
This is where the new features on Display & Video 360 come in, where optimised targeting has been launched. Optimised targeting uses AI signals to engage with new audiences without relying on third-party cookies.
Google has also shared that users who have already implemented optimised targeting on their Display Ads have already seen, on average, a 50% increase in conversions - and this is seen with a comparable ROI.
Linking back to our earlier point about first-party data, Display & Video 360 are also working on improving flexibility in their Publisher Advertiser Identity Reconciliation (PAIR) which will allow you to better connect with audiences whilst avoiding tracking individuals on the web - keeping in mind the privacy-centric focused way of working.
Some big news, coupled with the recent launch of SGE a lot of changes coming to Google Ads in the not so distant future!
