Google has been exceptionally busy! They've just concluded their Google Marketing Live 2024 event, and I must say, it's quite exciting for Google Ads advertisers. They have unveiled a wealth of new features coming to Google Ads, Performance Max, YouTube Ads and more over the course of this year.
I've carefully analysed the announcements to bring you the most exciting and relevant information that will help you stay ahead of the curve and potentially scale your revenues with Google Ads this year.
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1. Accelerate With Google
Google is promoting their "Accelerate with Google" programme, which is essentially a roadmap for leveraging AI in your marketing efforts. It's broken down into three core steps:
Get your data collection sorted (the foundation).
Use AI-powered campaigns like Performance Max and Broad Match.
Shift your mindset around AI (this is crucial).
This programme could be a suitable starting point for busy business owners looking to begin incorporating AI into their marketing strategies.
2. AI Overviews in Search Listings
Here's where things become particularly interesting. Google is testing ad placements INSIDE their new AI-powered search results, called AI Overviews.
Imagine this scenario: someone searches for "how to get wrinkles out of my suit while travelling". The AI Overview provides some helpful tips… BUT then it suggests "Products to unwrinkle your clothes" with Shopping Ads integrated right there. I cannot overemphasise how mindblowing this is.
Optimising your Shopping Feeds is going to be more crucial than ever. Google will be using that data to serve ads inside these AI placements, so ensure your feed is optimised to its fullest potential.
3. Visual Search Enhancements
Speaking of Shopping Ads, they're also being integrated into visual search results. Google is revamping the visual search interface and incorporating more Shopping Ads. Once again, the importance of a well-optimised feed for Ecommerce advertisers continues to increase.
4. Google Ads Conversation Experience
Google is rolling out a "conversational experience" (a chat interface) when launching Google Ads. You provide your website URL, and it auto-generates your ad copy and keywords. They're stating that people who use this are "63% more likely to publish campaigns with an excellent ad strength".
Just a caveat: In tests we’ve run at Big Flare, we've actually observed 70% higher conversions by creating ads with deliberately lower ad strength. So, while this feature might be useful if you're just starting out, I would recommend interpreting the "excellent ad strength" claim with caution. I would be more impressed if they demonstrated how it improved actual sales or revenue.
5. The Power Pair: Search Ads and Performance Max
Google is now branding Search Ads plus Performance Max as their "Power Pair". They recommend running both campaign types simultaneously. This actually aligns with what I usually suggest - use Performance Max, but don't rely on it for your Search campaigns. Take control of your own Search campaigns for better results.
They're also claiming that Broad Match has improved by 10% recently thanks to AI advancements. My recommendation? Still launch with Phrase and Exact Match first, unless you have large budgets and speed is your priority.
6. Gross Profit Optimisation
This is the update that I found most exciting - Google is bringing Gross Profit Optimisation to Performance Max and Standard Shopping.
You can input your COGS data, and Google will optimise your bids for Gross Profit. Apparently, early adopters saw a 15% increase in profit.
This could be a game-changer for small businesses who need to prioritise profitability.
7. Performance Max & Demand Gen AI Asset Generation Tool
Google is enhancing their AI asset generation tool for Performance Max and Demand Gen. You can now customise the generated assets to match your brand colours and fonts. There are also new image editing tools within the platform.
8. Enhanced Reporting and Controls in Performance Max
There was a spontaneous round of applause when Google announced more reporting and controls for Performance Max campaigns. New features include placement reporting and exclusions for YouTube videos, plus conversion metrics per creative asset. They didn't mention channel-level stats, but we have scripts available for that purpose.
9. AI Powered Campaigns For YouTube
Google is introducing AI-powered Video View and Video Reach campaigns for YouTube. Honestly, I'm not particularly excited about this one. It's more geared towards big brands pushing awareness campaigns rather than driving real-world conversions.
10. Demand Gen Campaign Updates
Demand Gen campaigns are receiving some updates as well. The threshold for lookalike segments has been lowered to 100 users, making it more accessible. They're also introducing a feature that turns product feed images into animated ad units for YouTube Shorts.
Speaking of YouTube Shorts, I believe we're in the early stages of this platform as an advertising opportunity. If you're investing in short-form video content, now is an opportune time to test out these YouTube Shorts Ads options.
11. YouTube Partnership Ads, Powered by Brand Connect
For those involved in influencer marketing, Google is launching YouTube Partnership Ads, powered by Brand Connect. You'll be able to find creators already promoting your brand and easily publish their videos as your own ads.
They're also expanding their affiliate programme, partnering with Shopify to allow creators to tag products in their videos and earn commissions.
12. YouTube Shopping & Affiliate Program
Google has expanded its YouTube affiliate program, partnering with Shopify to allow creators to tag products in their videos and earn commissions on sales. This program offers detailed insights into which creators are driving sales, providing a valuable tool for influencer marketing.
13. Product Studio For Shopping Ads
Two interesting new features are coming to Product Studio:
Style-Aligned Assets: Mix your product image with any scene or style image for more engaging visuals.
Image to Video: Transform a single product image into a simple animated video.
Both of these could help improve your CTR in Shopping Ads.
14. Brand Profile in Search
Google is rolling out a new "Brand Profile" in Search, allowing brands to showcase images, videos, reviews, and additional information. This feature will appear alongside ads, increasing visibility for brand-specific searches.
15. Shopping Ads - Automated Product Highlights
Google's new Automated Product Highlights feature will pull key information from product descriptions and reviews to display in Shopping Ads. This update might make product descriptions more important in your feed optimisation strategy. It also underscores the importance of having a review aggregator connected to your website and Google Merchant Center.
In the past, I’ve advised clients and others that product descriptions are one of the lower priority fields to optimise in your feed. Do it if you have time. If not, focus on titles, images, reviews and price. I would even rank GTIN and Product Type above product description in the feed in terms of their importance. With this new update we’ll have to see — maybe product descriptions should rank a little higher on the priority list.
16. 3D Shopping Ad Formats and Virtual Try-On
Google is introducing 3D spinning views for products and a virtual try-on feature for apparel, allowing users to see how products look on different models. These features aim to enhance the shopping experience and drive conversions.
17. Video Highlights in Shopping Ads
Coming to beauty and apparel advertisers first, "Video Highlights" will allow users to watch short videos directly from Shopping Ads, which is kinda neat. This could be a good reason to integrate with Google Pay if you haven't already done so.
18. Google Ads Data Manager
The new Google Ads Data Manager connects to various data sources like Shopify, Hubspot, and Salesforce, centralising your business data. An upcoming "measurement diagnostics" feature will provide automated suggestions for improving data capture.
19. AI Report Generator
The AI report generator for Google Ads and Google Merchant Center will allow you to ask AI any question and receive a relevant report, along with pro-active recommendations based on those reports.
On paper this sounds super useful, but we’ll actually have to see how it performs when it’s released.
20. Marketing Mix Models (MMM)
Google's new MMM solution, Meridian, will be available later this year. This tool helps marketers evaluate their marketing mix and optimise their campaigns.
For a more detailed look at all the announcements and their release dates, Google has provided a summary document.
And that’s a wrap on the key updates from Google Marketing Live 2024. Stay ahead of the curve and leverage these new tools and features to optimise your Google Ads campaigns and boost your ecommerce store’s performance.
Conclusion
In summary, the key updates from Google Marketing Live 2024 provide exciting opportunities for ecommerce store owners to enhance their Google Ads campaigns. From leveraging AI tools and new ad placements to optimising product feeds and utilising enhanced reporting features, these updates are designed to help you stay competitive and drive profitability.