As online shopping becomes more popular, getting the most out of your advertising initiatives has never been more important. Using custom labels in your product stream, you may increase the exposure of new products, promote popular items over lower-performing ones, and create different pricing schemes.
Custom labels, when used properly, may enhance your performance and lower your client acquisition expenses. Isn’t it very cool? Let’s look at the unsung hero of shopping advertising in more detail.
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What is custom label?
A custom label is a feed property that you may use to sort goods into groups based on whatever criteria you select, in case you need a reminder. Customers will not see personalised labels because they are exclusively for you.
Almost every marketing channel (including Google, Facebook, Microsoft Ads, Pinterest, Criteo, and others) has a “custom label” characteristic that you may use in your campaigns. You can use five custom labels in a Google Shopping feed, starting with “Custom label 0” and ending with “Custom label 4.” “Custom label 0” may be used to designate 15 of your goods as “best sellers.”
Why us custom labels?
One approach to set yourself up to execute a better marketing plan is to apply unique labels to product groupings in your catalogue. Whether you’re using manual bidding, bid strategies, or Smart Shopping campaigns, you may split goods into different categories based on comparable qualities and modify your bid strategy appropriately with custom labels. This extra segmentation also helps you to dig deeper into performance and find trends and insights.
You may set up various custom labels for different exporters, establish dynamic rules for applying labels to new items, and integrate data from many sources to make data-backed choices with the proper feed management solution.
Use Price point custom labels to highlight the price
Price points, often known as price buckets, are a typical data point for custom labels. Price buckets help you categorise your items according to their price range. For example, a $12.99 product may fall into the “$0-$50” pricing range.
This label is particularly beneficial when there are significant pricing differences within a single brand or product category.
While raising bids on a single brand or product type group may appear to be the best option at times, doing so across the board might be wasteful. By boosting all bids solely on the basis of product category or brand, you risk overpaying for low-value conversions that aren’t worth the money.
Make use of more and more performance custom labels
The Law of the Vital Few asserts that 20% of the causes are responsible for 80% of the outcomes. When applied to eCommerce, this indicates that about 20% of goods generate 80% of sales income. Finding this magical 20% is far from magical; performance custom labels can help you find it.
Typically, Google Ads data may be used to determine the cut-off criteria for poor, good, and top performers. You should ideally dynamically include your Ads performance data so that these metrics may be updated per product on a regular basis.
Flaunt your profitability custom labels
You can simply bring in profitability data on a per-sku basis into your feed since icustomlabel allows you to combine data from different sources into one master feed. This implies you may design profit-generating bespoke labels based on your own standards. You may build a custom label to boost your bid if you know a product has a higher profit margin. A profit-based custom label can help you lower your bids and save money on items with greater profit margins if your profit margins are low.
Depict your sales with the sale custom labels
On-sale products benefit from a personalised label as well. You may raise bids by labelling products as “on sale,” as these items are significantly more likely to convert with a price reduction. This is especially useful on holiday shopping days like Memorial Day, Black Friday, and Cyber Monday. We recommend launching your holiday sales efforts at least two weeks before the Christmas shopping season begins.
Sow your availability with the seasonal custom label
Seasonal labels such as “Fall,” “Winter,” “Spring,” and “Summer” may be used to advertise your inventory at different seasons of the year without having to cycle goods in and out of the feed. You may enable and disable product groupings on the campaign level, as well as change bids, after a season starts or finishes.
Make your customers enjoy personalization
To differentiate items by gender, you might wish to utilise personalised labels. For instance, your company may sell things that are mostly purchased by women, but you may also sell items for males within the same product category. You may utilise your gender specific labels to eliminate items for males from the campaign if they generally don’t perform as well.
You can even alter your bids based on how well your items sell for women versus men if you use gender specific labelling. If, for example, women’s clothing sells better than men’s, you may use custom label segmentation to increase the bidding on only your women’s clothes campaigns.
Make your customers know about featured products
What if you want to advertise a new product collection or featured products? To have your items appear more prominently in the top places of the search results, you may wish to bid more aggressively. You’ll be able to track the success of your highlighted collection more easily if you use a custom label to identify it.
Offer clear quality shipping custom labels
If you provide multiple forms of delivery for your items, segmenting your products by those shipping options might be useful. For example, you could wish to compare the performance of your free shipping items versus those that do not provide free delivery.
Leverage a best seller
What factors contribute to a product’s success? It isn’t always about how innovative it is or how many features it contains. In reality, predicting whether a product will fly off the shelves or remain in storage is nearly impossible. Once a product has established itself in the real world, make sure to capitalise on that success by emphasising it as often as possible.
Add a personalised label to best-selling goods so you can see right away which product combination is the clear winner. This entails more than simply naming a large winner in a broad area. Investigate the specifics and utilise analytics to identify which goods are the most popular
Despite the fact that custom label segmentation may significantly improve performance, profitability, and reporting, it is one of the most underutilised Ads capabilities. You’ll need to employ as many tools as possible to stand out as online competition gets more severe. Icustomlabel allows retailers to create and apply custom labels to their product feeds fast and simply, allowing them to leverage their data to boost ad performance.