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Using Only Target ROAS Bidding for Standard Shopping Campaigns
John Moran shares his strategy of using Target ROAS bidding exclusively for Standard Shopping campaigns. He explains how he does this, how to use it with new accounts, his confidence in applying tROAS, and more.
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0:00 Intro
0:09 Using only Target ROAS Bidding for Standard Shopping Campaigns
3:58 Discussion on market competition, brand protection, and adjusting bidding strategies accordingly
10:20 Confidence in applying tROAS
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Transcript
I only use T ROAS now for standard shopping exclusively.
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:Awesome.
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:I do want to mention the, the standard
shopping bidding strategy for Regina.
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:I only use TROAS now for
standard shopping exclusively.
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:the TROAS target is 100 percent unique to
that campaign and that company and that
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:goal and how aggressive we need to get.
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:what if you got an account that
had no data in it, really high
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:AOV and really low budget, would
you still use TROAS from day one?
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:Like worst case scenario, would you still,
yep, I would start at 40 percent TROAS.
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:Wow.
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:Okay.
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:But the algorithm, how can it get you
a return when it doesn't know anything?
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:40 percent is enough for it
to say, can you at least make
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:me 40 cents on every dollar?
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:It allows it to not spend stupidly
for too long on things that are
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:not working, but remain aggressive.
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:Okay.
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:Sorry.
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:one more, if it was an account
that sold like brand name products?
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:And you saw in the search terms that
the algorithm wasn't bidding on people
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:that are looking for those brand names.
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:It was just bidding on people
looking for the product, but
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:not the brand name, right?
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:So it's like high end
products with brand names.
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:Would you then override your T
ROAS strategy and use MaxCPC to
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:force it to pay more for a click?
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:yeah.
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:So this one, you'll see it's only
50 bucks a day, 80 bucks, 50, 80.
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:And all of a sudden this
thing spikes up to 700 a day.
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:And that's because my two row as I took
it down to 100, the rest is on 200 to
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:allow this to go really expensive and
it's popping a four 30, even though
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:I give it 100, it's giving me a 430.
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:The reason why is because
that is aggressive and these
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:here, that's what I said.
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:It's completely custom.
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:The reason why these bricks Samsonite
and Hartman are barely spending is
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:because that is below what I'm asking.
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:That is below what I'm asking.
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:That is a slightly above what I'm asking.
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:So it's spending more and that is
way overshooting what I'm asking.
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:So it's spending a lot.
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:the algorithm wasn't bidding on the
brand names, even though we did product
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:title rights, we put the brand name in
the first part of every product title.
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:So we thought that would be enough for
the algorithm to know what to bid on.
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:I honestly have done a TRO as a 5
percent before it's launched something.
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:I think what was throwing the
algorithm off is even though you're
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:giving it lots of freedom because
we gave it lots of freedom too.
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:think I did that strategy if not, I
had just had a wide open Maximized
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:conversions set on it for a while And
the problem is that 99 of the market
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:out there is looking for these products
But not looking for the brand name.
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:what was the brand if they sold
like 50 000 chandeliers to like
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:interior designers 1, 500 a month.
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:Yeah, you found it.
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:it's furniture.
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:So people are searching for table lamps
and she sells table lamps that are 4,
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:000, and unless they are searching for
the brand name with the table lamp,
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:so the algorithm doesn't have any data
because her budget is so low and, it's
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:getting all these clicks on people
looking for table lamps, one's the brand.
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:is that one of them?
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:Yeah.
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:Did we see how much our competitors
are bidding for that brand name?
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:I eventually did look up some of
the main brand names, not this one.
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:and it was a wide range,
which confused me.
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:It was anywhere between 90 cents and 15.
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:And I was just like,
it's all over the place.
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:It was a mystery.
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:So I eventually switched to MaxCPC
and I set 5 MaxCPCs to force
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:the algorithm to spend more.
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:But then we had no data because
we weren't getting any clicks.
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:So I was just like, I don't
know what's gonna work.
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:How was the feed though
from a description?
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:So it does say the name here.
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:So it should be okay.
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:It's right in the title.
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:Yeah, maybe this is a million times.
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:Her budget was too low and
that was the main issue.
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:So it was probably just a
doomed account from the start.
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:what I do know is like for, which is,
popular brand name and these people
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:spend a lot of money on their brand.
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:you really rarely.
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:We'll ever see any other competitor.
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:You'll see Monos here, but they
cover the brand name really well.
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:So my cost per click is 2 and 4.
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:Sometimes, I'm paying upwards
of, eight bucks for the brand
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:name and the product name.
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:and that's because this account
here at a hundred percent TROAS.
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:that was aggressive enough for it.
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:but do you see that it's not
necessarily also where majority
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:of my clicks are coming from?
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:I have backpacks, best
backpacks, best one here.
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:So it's still backpacks actually
at a 20 percent conversion rate.
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:The brand did not This one
also had 25 percent conversion
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:rate when the brand did not.
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:a, did we, and should we need to that
brand name, potentially not be, one of
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:the least expensive of the reason why
this one was spiked up 700 a day over
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:the weekend is because there's no one
watching Matt pricing on the weekend cause
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:they're all, at home with their family.
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:but those are the things too, it's like
where we have to train the algorithm.
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:So what Google doesn't know right
now is why bid on the brand name.
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:Google's going to say, I don't know, have
we had a bunch of sales in the brand name?
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:No, I'm not going there then.
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:And so that's the part two where.
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:We spiked over the weekend, but my
sales didn't come from, that's okay.
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:I had a great price.
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:So there's a few different things up
there is a, do we have the best price?
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:Probably not.
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:B was there anybody violating map?
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:Probably C is there any history in
that campaign to want to bid for those
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:names or anything else does Google
actually say actually these search terms
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:we think are going to convert better.
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:Was that true?
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:And do we give enough time?
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:through two other agencies for the
past year who were running, like
114
:mostly just PMAX and the whole business
had been dying and dying for a year.
115
:So I treated it like a new
account in that, it didn't know
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:what it was going to convert.
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:The tracking was almost non existent
because what happens in these, it's
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:almost like a B2B where the interior
designer will pick it out and it's
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:But the invoice goes to the end
client and the end client pays it.
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:So it can't track any conversions ever.
121
:other part is that brand name, as an
example, that an Italian gelato dessert,
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:which is going to be really weird as well.
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:So we're going up against a bunch
of random people too, that are
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:trying to sell desserts on shopping.
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:which is funny, black
truffles and truffle zest.
126
:the only thing that did seem to
work was to, switch it to max
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:CBC, set the max CBC, like 5.
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:See that might be where it kill it
though, too, that brand name could
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:have been hit in seven, eight.
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:Yeah, it was risky, but I
didn't know what else to do.
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:It wasn't bidding on brand names at all.
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:And it was just getting literally people
were searching for like Costco mirror.
133
:I excluded the word Costco eventually,
but that's an example of like
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:just the vast market of people out
there who want like a 15 mirror.
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:And they're not willing to pay 4, 000.
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:So it was just, I didn't know what to do.
137
:That part two is it's if the brand name
may not have saved it, I have, a bunch of
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:accounts that the brand name didn't work.
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:I haven't gone in over a
year because it never worked.
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:so the only way it worked is
when I beat their pricing and
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:they show up for cold traffic.
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:that was the secret.
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:so that's, what's interesting.
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:I think that there's more
that I'd have to go through.
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:We don't have access to it anymore.
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:My go to though, for everything right
off the bat it's always TRO as now
147
:if I now know how to train that and
that's where it becomes really odd.
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:But that the other part too, is they have
to understand is when I look in the back
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:end of And this last seven days, for
example, like we pull back a bunch because
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:we're going through a funding thing,
but I spiked it up here over the weekend
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:that spiked up sales, but we have 14
five in last seven days and we spent two.
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:So we're at a seven X in this
last seven days at scale.
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:We never dip below a 6.
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:1.
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:So it worked.
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:It worked really well.
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:But that was because I know where
to set the 100 and 200 T row as in
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:order to give me a back end, five
and sevens and that kind of stuff.
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:so it's a TRO as bidding strategy,
but what you set that to is arbitrary.
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:What does Google know?
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:How much loss of attribution do you
have and what is your back end and
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:then say, what does that need to be on
the front end to then go through that
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:scenario on the back end and time lag and
attribution, enhanced conversions and.
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:Site speed is a slow and firing the
tag and missing a bunch of conversions.
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:And that needs to be
lowered to stay aggressive.
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:So it doesn't die whole bunch of stuff.
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:That's it's completely unique to that.
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:Even that CMS.
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:Okay.
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:you sure that if you were working with an
account that it was a thousand dollars a
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:month, you would still, are you confident?
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:'cause it's been a while since you've
worked on these small accounts.
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:like how confident are you on that t roas
from day one thing, a hundred percent.
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:Really?
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:Yeah.
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:my one account, here's a example.
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:we spend $40 a day for,
we're getting a:
178
:I said it 100 percent T Row OS.
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:Yeah, but it's been running for years, so
it has high quality data and everything.
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:But on PMAX, now we're
on standard shopping.
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:So that's the thing too, is yes, you can.
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:what you're spending per day, if you
need a higher CPC, you load a T Row OS.
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:just talking about a bidding strategy.
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:That's all we're talking about.
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:You can set a manual CPC, but then you
bid that way for everyone setting a
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:really low TRO as means that you said,
and it really aggressive bid strategy,
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:unless it's actually a fairly low chance.
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:Then bids go down.
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:I wish I could have said a
minimum CPC on that account.
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:That's what I wanted.
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:I was like, please stop
spending 50 cents on a click.
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:that's when you have
native keywords daily.
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:Yeah, which she wouldn't let me do.
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:You can have a brand focus
and you have a non brand.
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:so when, in the one you bid at a
higher two row as, and then you
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:negate every single number answer
would have been a genius strategy.
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:Give the client what they
want, but allow you to test.
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:Yeah.
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:And then you find out who wins.
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:I do have to jump.
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:But I didn't think of that.
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:Okay.
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:Bye, John.
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:Thanks everyone.
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:Thanks.
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:Bye.