2021 has been a year of resilience and relearning as we watch how the pandemic continues to evolve. Everyone has got used to the new norm, working from home, e-learning, turning to online shopping, and socializing virtually. With that, consumer behavior and patterns have and will continue to change; therefore, this time around, it is more crucial to be data and insights led to stay at the forefront of all these shifts.
Luckily, Google has launched new features to help us optimize digital presence and adapt to consumer behavior shifts.
This tool identifies trends and insights in your market. It also helps you understand your performance. You’ll know the current and upcoming interest in the products or services most relevant to your business.
Demand Forecast (Beta)
This feature signals predicted upcoming trends that are relevant to your business. It references historical data to forecast the products and services that may start to experience increased search interest within the next three months.
For example, RV dealers might expect a spike in people looking to rent or buy recreational vehicles in the winter. Historically, people may be looking to travel south to avoid the snow and colder temperatures. So your PPC marketing team could use these insights to plan and allocate budgets strategically.
You can use demand forecasts to identify upcoming trends, understand increased demand, how much of it to expect, and for how long. You can also speculate on what is likely to drive demand to plan your Google Ads campaigns.
- Business running readiness
- Identify new events relevant to your business
- Spot upcoming expansion opportunities
- Budget planning and forecasting
Consumer interest insights (beta)
As opposed to the demand forecast feature, this report will look back on historical data, specifically search terms where your ads have appeared in the last 56 days, grouping them into intent-based themes and subthemes to provide you with KPIs for each.
For example, if you are a dumpster rental business, you might see that themes for your leading service are “local” and “hourly rates” and that overall traffic volume increased by 20%. You will be able to find these themes in the search themes section and can help you upgrade your targeting strategy and product feed copy to include similar words and phrases.
- Better understand your target audience’s search intent without going through every search term in the search terms report.
- Quickly optimize your PPC marketing strategy based on what your target is searching for in their queries. You can tailor creatives, landing pages, product feeds, and more to this.
- Use consumer reports to identify which of your campaigns and ad groups capture the most demand and which tweaks will maximize results.
Audience Insights (beta)
This feature summarizes the unique characteristics, interests, and behaviors of those who see your ads. Yes, it helps you pinpoint your target audience.
You’ll be able to identify converting segments, the percentage they make up, and how represented they are compared to your targeted population. For example, if you sell flowers, you might learn that a portion of users, 15% of your conversions, are from the dating services in-market audience.
- Leverage these insights to refine your current audience targeting strategy.
- Tailor your creatives based on your target audience’s affinities.
- Based on learnings, make small, incremental changes to your campaigns to improve overall performance.
Historical data can help you understand how changes you made to your account have positively or negatively affected performance. Quickly detect what works and double down. Separately, remove elements that jeopardize your campaigns as soon as the data reveals poor performance.
The features mentioned above can be a great help for any advertisers but most SMBs. They allow them to be at the forefront of industry shifts, seasonalities, and basic market economics to allocate their budgets strategically while keeping up with what’s going on in their target market.
Talk to one of our experts to learn how we leverage these features to maximize performance on Google Ads campaigns.