No matter which channel is used for advertising, everyone wants to know which products are the most profitable. Analytics gives you insight in a number of sold products and revenue, but there is one more option for increasing profit.
To access best selling-products data you need to set up proper E-commerce tracking. Product data performance is available in Analytics Conversions report – E-commerce – Product Performance as can be seen in the image below. For a larger amount of data select websites best-performing products for a longer time period (at least 6 months).
To find out for ourselves how profitable is to advertise specific products, we decided to advertise 100 best selling product in the last 6 months. Products were divided in separate ad groups with specific features of each product ads. Ads performance analysis showed which features create the greatest response. During the first month of advertising, campaign indicated extremely positive results.
With 16.58% CTR (click through rate) campaign was on the second place. For only €0.22 CPC (cost per click), ads were at great 1.3 position. There is a pretty big chance that competition will also advertise for some of best selling products which could result in higher CPC. We strongly recommend to control your ads performance on a daily basis and raise bids to keep ads positioned higher. The campaign had 5 conversions and 808% ROI in the first month of advertising from €52 investment and €10 cost per conversion. The campaign had € 471 revenue of total € 7 700 revenue.
Return on advertising spend (ROAS) was 1 389.51%.
Products advertising example:
The above image shows the perfect example of specific product advertising and which ads are optimized for that type of advertising.
Customers search products by name if they want to know more about the product, or if they already decided to buy a specific product. Customers don’t always see the difference between organic search results and paid ads so it is important to have your ads above organic search results.
Campaign performance showed that customers search for products by their name. For that reason it is necessary to advertise for the specific product and not only for general terms. Don’t forget to advertise for misspellings and typos. Familiarize yourself with product features and highlight them in your ads. Create different ads for one ad group and test their performance. That is the only way to find out which product feature result in sales.