Custom labels are a way to create smarter Google Shopping campaigns.
Adding custom labels will help you to organise the campaigns by the various attributes that are important to you as a retailer. The custom labels are only visible internally, and are for your own use in campaign optimisation activities.
Custom labels will vary based on industry characteristics or your specific business type. Some common examples of custom labels are ‘seasonal’, ‘selling rate’, and ‘margin’ . The labels you choose can play an important role in helping you to monitor and bid in your campaigns.
Google has retired Smart Shopping campaigns and has replaced them with Performance Max campaigns. Get up-to-date information on Performance Max here.
You can apply custom labels to your product groups regardless of whether you’re using manual bidding, automated bid management, or even Smart Shopping. However, the main purpose of adding custom labels is to enable you to review your performance at a more granular level, with more detailed insights. Those utilising Smart Shopping campaigns should be wary of the data “blackbox” – removing insights to your own valuable data.
Custom labels are a great tool to use when optimising campaigns manually, and using them correctly can significantly improve your returns from Google Shopping.
However, the most successful retailers are able to move beyond optimising campaigns within just five labels or categories. This involves being able to optimise bids on not just five, but dozens of variables, and being able to do so at the product or SKU level. For most campaigns this is impossible to do manually: it requires a machine learning platform to analyse, predict and automatically optimise bids and search terms for often thousands, or tens of thousands of SKUs, and being able to do so 24/7.
Bidnamic’s platform is able to simultaneously compare 108 variables to get an accurate bid price for every single SKU, down to each individual item’s profit margin. To find out if it can work for your campaign, book a demo with one of our specialist advisers, or check out how Bidnamic outperforms Google Smart Shopping.