Google created conversion value rules to give advertisers more control over their ad spend. Essentially, they allow advertisers to tell Google what conversion factors result in the highest value. Conversion value rules enable strategic management to combine advertiser expertise with automation to get the best ROAS possible.
What are Conversion Value Rules?
Conversion value rules allow users to modify the value of conversions based on the category of the conversion action and the following three impression dimensions:
The physical location or location of interest
Advertisers can use the Google Ads API to define conversion value rules, combine them into a conversion value rule set, and apply the rule set to either your whole Google Ads account or to your chosen campaign. The Google Ads API report presents a segmented breakdown of your conversion values' original, unadjusted, and adjusted portions.
Conversion value rules are comprised of two elements:
Conditions that determine when they are applied
The action is taken once they are applied
They are used in real-time to optimize target ROAS and maximize conversion value, utilizing smart bidding. Remember that smart shopping campaigns don’t support tCPA and max conversions.
Conversion value rule conditions
Conversion value rule conditions can be defined in a few fields:
The audience_condition field applies the rule to impressions associated with a particular audience, which can be Google or first-party audiences. You can further specify resource names using the user_lists or user_interests fields. To retrieve the resource names of all available user lists or user interests, issue a search stream or request of GoogleAdsService where the FROM clause of the query is user_list or user_interest.
Audience_conditions containing multiple user lists and user interests will match impressions with any associated user lists or interests.
Device_condiiton applies to impressions that match specified device_types from the following list:
UNSPECIFIED: Not specified
UNKNOWN: Used for return value only. Represents value unknown in this version
MOBILE: Mobile device
DESKTOP: Desktop device
TABLET: Tablet device
This applies to impressions that meet predefined location criteria.
Each conversion value rule can have two conditions. Rules with no conditions apply to impressions that don’t meet the conditions of another rule in the set.
Conversion values created at the campaign level will not impact bidding performance or reported conversions for other campaigns.
Account-level campaign values rules: apply to Search, Display, and Shopping
Campaign-level value rules: apply to Search, Display, Shopping, Smart Shopping, and Pmax for retail
D&E test with value rules: apply to Search and Display only
Benefits of Using the New Conversion Value Rules in Google Ads
Using Conversion Value Rules is a no-brainer if you want to improve your Smart Bidding results. Conversion Value Rules help advertisers accurately portray the value of conversions for Smart Bidding so they can optimize toward the most valuable conversions. This is the most sure-fire way to take control of Smart Bidding results.
When you show Google which conversions hold the most significant value for your brand, ad spending will optimize according to what brings your brand the most revenue, profit, offline conversion value, or lifetime value– all in real-time.
Conversion Value Rules also simplify reporting and optimization by eliminating the need to change tagging code.
How do Conversion Value Rules work?
Here’s a quick rundown on the different elements of Conversion Value Rules and how they work:
Every rule must have an action consisting of an operation and a value. This action shows Google how to adjust the conversion value for the rules that meet your conditions. You can use one of three values:
Add: Adds a value greater than 0 to the original conversion value.
Multiply: Multiplies the original conversion value by a specified value between 0.5 and 10.
Set: Sets the conversion value to a specified value greater than 0. It can only be used under certain conditions.
Creating a rule set
After making at least one Conversion Value Rule, you can create a Conversion Value Rule Set consisting of conversion action categories and Conversion Value Rules.
A conversion action category is the list of conversion actions the rule set applies to. If this list is empty, the rule set applies to all categories. If it isn’t empty, then it must contain a single store visit or sale.
You can only set the conversion action categories when creating the rule set.
The SET action can only be used in one of the following scenarios:
The account is allow-listed, and the conversion action categories of the rule set are empty,
The conversion action categories of the rule set contain a single entry of store visit or store sale, the set's dimensions only contain an entry for no condition, and none of the condition fields of the rule are set.
You can include each conversion value rule in just one conversion value rule set. If the Conversion Value Rules contain a resource name of a rule that is in the Conversion Value Rules of another rule set that is either enabled or paused, the operation will return a data constraint violation error.
The list of value rule set dimension values dictates which conditions the rules in the set can utilize. If dimensions contain geo-location and device, you can’t add rules with audience_condition. This list must contain 1 or 2 entries (it cannot be empty).
If the list contains an entry for NO_CONDITION, then:
NO_CONDITION must be the only entry on the list
The list of conversion action categories of the set can contain only a single entry of STORE_VISIT or STORE_SALE.
The list cannot contain any rule where audience, device, or geolocation conditions are set.
The first entry in the list dictates which value populates for segments.conversion_value_rule_primary_dimension in reports.
The attachment_type can be set to CUSTOMER to create a rule set applying to the entire account or CAMPAIGN to create a rule set that applies only to a specific campaign.
If the attachment_type is set to CAMPAIGN, then set the campaign to whatever resource name the rule set applies to.
A rule set has an owner_customer and a status, but the status is read-only and will show PAUSED or ENABLED, depending on the status of its rules.
How are Rules Applied?
Only one rule per conversion: When more than one rule applies to an impression, Google chooses one rule based on either the most precise location match or the audience hierarchy below.
Remarketing and similar audiences
Affinity and in-market audiences
In the case of a tie, Google defers to MULTIPLY logic over the ADD rule. If the tie remains, Google chooses the highest adjustment.
Additional rule attributes
Owner_customer: the resource name of the customer that owns the rule.
Status: shows whether the rule is paused or enabled.
Reporting in your Google Ads Conversion Value Rules
All Conversion Value Rules output is automatically included in your campaign-level conversion value reporting. You can view the adjusted and unadjusted values via value rule adjustment segmentation.
Removing Conversion Value Rules
Target ROAS and Maximize conversion value bidding account for active rules within your account to drive as much conversion as possible. When you remove a conversion value rule, Google will resume optimization for your current definition of value. This means you will have an obvious disparity between data pre and post-removal.
ConversionValueRuleSets must have at least one PAUSED or ENABLED conversion value rule. Otherwise, the rule set will fail. You can remove a ConversionValueRuleSet without altering the status of the ConversionValueRules referenced by the set. Once the set is removed, search, and searchStream requests for that set resource will stop returning the removed set.
How to estimate conversion value
Below are three equations to help estimate conversion value:
Short-term conversion value: To estimate short-term conversion value, multiply your average deal revenue by the profit margin, then multiply that by the percentage of leads that convert to a deal.
Lifetime customer value: To estimate lifetime profit per customer, add the average deal revenue to the repeat business over a lifetime and multiply that sum by your profit margin.
Word-of-mouth: Multiple the value per lead by the percent gain from word of mouth.
Lifetime value per conversion considering word of mouth: Multiple the lifetime profit per customer by the percent of leads that convert and the gain from word of mouth.
Conversion Value Rule best practices
The conversion value rule strategy is pretty straightforward. Follow these best practices, and you’ll be on your way to a better ROAS:
Look at customer lifetime value and the entire conversion path
To accurately identify conversion value, you have to examine the whole picture. Think about it– if a customer converts on a desktop but finds you on their mobile device, you won’t be able to assess the actual value of that impression unless you consider the full conversion path.
Get accurate data
Wherever you pull the data used to calculate conversion value, ensure it is accurate. Informing Conversion Value Rules with inaccurate data will skew your ad spend and harm your ROAS.
Be creative but conservative
Estimating conversion value can require a bit of creative guesswork, but it’s best to pair that creativity with a conservative mindset when you aren’t 100%. Consider taking a conservative approach to the riskier rules when choosing a rule action.
Don’t be too general
When Conversion Value Rules are too general, they either underestimate the value or catch impressions that shouldn’t apply. The best strategy is a careful balance between getting too specific and generalizing value for a big chunk of your audience.
Conversion Value Rules are designed to give advertisers more control over their Smart Bidding strategy by highlighting high ticket impressions. One of the most important tidbits to remember here is that creating Conversion Value Rules to skew Smart Bidding directions is a waste of time. Conversion Value Rules do not influence the direction Smart Bidding optimizes in– they just prioritize spending on the impressions that will have the best return.
Tracking website visitors' behavior is crucial for gaining insights into their engagement and optimizing digital strategies. One significant aspect of user interaction is downloading files, such as documents, software, or media files. Understanding how users engage with these downloads can provide valuable data for improving content offerings and measuring conversion rates.
As you probably know, Google Analytics released a new, updated version, and in this blog post, we will explore the best practices and insights for tracking downloads using Google Analytics 4 (GA4).
Understanding Downloads in GA4
In Google Analytics 4 (GA4), a download event is triggered when a user clicks a download link or button, signaling their intent to retrieve a particular file. GA4 tracks these download events by capturing relevant data, such as the file's URL, the user's session information, and other event parameters. Website owners can then analyze and measure the engagement levels of their downloadable content, gaining valuable insights into user preferences, content popularity, and conversion rates.
Before we dive into setting up download tracking, we first need to explain two fundamental terms: gated and ungated content. Both are types of downloadable content, but the difference is whether users need to provide personal information first..
Gated and ungated content
Gated content requires users to share their personal information (usually their email) to download the materials. This option is great if your downloadable materials are intended to be lead magnets. For example, every piece of content that benefits people interested in your service or product is a lead magnet.
You can probably guess where this is going - when users leave some information, it’s much easier to track them. Each download will be counted, you’ll be able to see it, and most importantly, you’ll know to whom it belongs. Additionally, you can use those emails for remarketing purposes and put your product or service in front of the eyes of your potential clients.
Unlike gated content, ungated content doesn’t require leaving any information. Users can download the materials by clicking on the download button. For instance, you can download coupons from a discount website by clicking on the corresponding icon. Unlike gated content, ungated content won’t allow you to trace your leads. If you know that a piece of content is an important step in the customer journey, then you can make it easily accessible. Sometimes users get put off having to share their personal information, so using this option has its own benefit.
Moreover, your internal team or a digital marketing agency can utilize gated and ungated content to achieve different objectives and cater to different customer journey stages. Now that you know the basics about downloadable materials let’s see how you can set download tracking in GA4.
When to use gated versus ungated content
Gating content is a common strategy for businesses aiming to build an email list or generate leads. When content is gated, users must provide their contact information, typically an email address, to gain access. The primary benefits of this method include lead generation, segmentation opportunities, and a sense of exclusivity for users. However, this strategy also carries drawbacks like reduced SEO benefits and limitations in audience building. Gated content could include reports with original research, eBooks, whitepapers, live demos, webinars, and newsletter content.
On the other hand, ungated content is freely accessible on the internet and doesn't require users to provide any contact information. While this approach doesn't directly generate leads, it can help build organic awareness, encourage audience engagement, and offer significant SEO benefits. There are also strategic ways to retarget page visitors and capture potential leads later in the funnel when they are more prepared for direct outreach. Examples of ungated content could be blog posts, videos, podcasts, infographics, and ungated PDFs. In deciding whether to gate or ungate content, businesses should consider their resources, marketing and business goals, industry expectations, and plans for managing collected information.
For our purposes today, we’ll go through why you want to track downloads in GA4; and then we’ll dive into the technical setup of tracking gated content.
Insights from Download Tracking in GA4
In a moment, we’ll go through how to get accurate download data, but first, you may be wondering what insights you can get from download tracking. The answer is simple - many.
Understanding user engagement
Understanding user engagement through tracking downloads in GA4 provides valuable insights into how users interact with downloadable content on your website. By analyzing metrics such as download frequency, duration, conversion rates, or sales forecasts, you can identify which files resonate most with your audience, optimize content offerings, and tailor your marketing strategies accordingly.
Identifying popular and underperforming downloads
When tracking downloads in GA4, you can easily identify popular and underperforming downloads by analyzing the metrics and data provided. By examining the number of downloads, engagement metrics such as time spent on the download page, and conversion rates associated with each file, you can gain insights into which downloads resonate well with users and drive desired actions.
Tracking downloads as part of a user journey analysis
Measuring the effectiveness of downloadable content is also very important. This will help you understand certain downloads' impact on further actions in the customer journey, such as starting a free trial, enrolling for a demo session, registering, or buying a product.
Setting Up Download Tracking in GA4
Download tracking happens autoamatically in GA4 if your Data Stream is configured properly. To set it up, go to the Admin section, and under Property, select Data Streams.
Once you click on Data Streams, your next step is to allow Enhanced Measurement.
After you enable the enhanced measurement, you need to visit the Settings section by clicking on the gear icon within the enhanced measurement field.
That will open another window where you need to enable File downloads. As you can see, File downloads are one of the options for the Enhanced measurement. Since you’ll probably be doing this for the first time, you’ll have to wait 24 hours before the results populate in the Analytics.
And that’s it; you’re all set! It’s not difficult at all!
The next logical step is to learn how to analyze the download data and create reports that will enable you to get to the next level when tracking downloads.
Analyzing Download Data in GA4
Once you set the download tracker, the results will automatically populate in the Standard reports once you set them up as events. They are called file_download events.
How can you find file_download? Easily, just click on the Reports - Engagement - Events.
Standard reports have some flaws. If you’re tracking only one downloadable material, there will be no problems. But if you have more than that, Standard reports won’t be able to provide you with information.
First of all, all downloads will be grouped, so you won’t be able to see which file got the most downloads. Secondly, you won’t be able to see where the users are downloading those files either.
That’s why it is important to explain the power of Custom reports, which we’ll get to in a moment.
Adding a Secondary Dimension
The details report table inherently comes with a primary dimension and up to a dozen metrics. The primary dimension is labeled as such. For instance, in the given detailed report when, "Event name" is the primary dimension, metrics such as "Event count" and "Total users" are included. This arrangement allows for the analysis of each metric relative to one dimension:
The report can be appended by adding a secondary dimension, facilitating data analysis across two distinct categories. For instance, the table below showcases the page or screen where each event was initiated:
This secondary dimension is a temporary addition and gets removed once you navigate away from the report.
How to Append a Secondary Dimension Adjacent to the primary dimension, click on Add dimension [Plus].
Scan through the list of dimensions, or input the whole or part of the dimension name in the search box. Select the desired dimension name.
Custom reports will enable you to view each download individually by creating their respective views.
To enable this, go to the Explore section and select Blank - Create new exploration.
Your next step is to name your new report and add the dimensions that you find relevant. Click the + symbol, add the Event name and File name, and finalize this part by clicking Import.
Another thing that you need to select is the metrics. You’ll do that by again clicking on the + symbol and adding Event count and Total users, and again, finalize it by clicking on Import.
Once all of this is set, you need to add all these elements into your report by doing a simple drag-and-drop or a double click on them.
After this, there’s only one little thing to be done. You’ll need to apply a filter to exclude all the other events and limit this report to tracking downloads.
There you have it - only these steps are necessary to keep track of your downloadable materials.
Advanced Techniques for Download Tracking in GA4
Let's cover a couple of more advanced situations for those of you who are always interested in learning more.
Link attribution for tracking downloads from external sources
Once you have enabled Enhanced Measurements, GA4 will “fire” an event called click whenever someone clicks on the link on your website that leads them to another website. Such external links are called outbound links.
You’ll see all the link URLs and their respective clicks if you click on Click.
How to set outbound link tracking? Visit the Admin panel - Configuration - Data Streams and choose the web data for this configuration. Check that the Enhanced Measurement is on, and in its Settings section, ensure the Outbound option is enabled. Once all clicks are set, just save the changes.
Creating the reports works in the completely same way as we explained above. The standard report is the one that will show once you go to the Reports - Engagement - Events - Clicks, while the creation of Customized reports will require you to select again the metrics that you would like to include.
Tracking outbound links is important if you, for example, have two websites that link each other and want to know how many people navigated between those two.
Cross-domain tracking for downloads on multiple websites
If you, for example, have a website and a blog with separate domains, consider using cross-domain tracking. Cross-domain tracking allows you to identify users across different domains. This means that the system will be able to recognize the same user activity regardless of the domain they’re visiting.
When you set this option, and when you, for example, have an outbound link that leads to your other domain, the option for tracking outbound links will be automatically ignored. If this weren’t the case, you couldn’t follow the same user across your two domains because it would be recognized as a completely new user.
Let’s see how to set this up.
Again, go to Admin - Data Streams and select a website property you want to enable cross-domains.
After the new window appears, click on the Tagging Settings.
This will lead you to the next window, where you must select Configure your domains.
In the next window, click on the Add condition.
Here you will be offered many conditions, but in this case, you can select contains and add the domain link of the second website and click Save.
Now you’re halfway there. You will need to follow the same steps, and when you again come to the last one where you’re adding conditions, this time, you will need to insert the domain link of the first website.
To check if everything is set up correctly, just visit any of those two websites, and if in the URL you see a new parameter _gl just after the website link, it means that you’re good to go!
Tracking downloads with Google Analytics 4 (GA4) provides invaluable insights into user engagement and behavior on your website. By implementing the best practices discussed in this blog post, you can harness the power of GA4 to accurately measure and analyze downloads, optimize your content target strategy, and make data-driven decisions.
We hope this article will help you start tracking downloads more easily and understand your customer journey a bit more. To optimize your omnichannel advertising reporting, meet with a MarinOne consultant today.
Tanja Adamovic is a guest contributor to the Marin Software blog.
It’s safe to say a lot has changed in the digital marketing space over the last year. We entered an AI renaissance, gained not one but two new social media platforms (hello Lemon8 and Threads), and while personalization is trending, third-party cookies are on their way out. For good.
Keeping up with the latest trends and best practices with so many drastic changes on the table can be tough, which is why we love marketing conferences. They condense wisdom, experience, and research from industry experts into keynote presentations and breakout sessions that help marketers regroup and re-evaluate their strategies according to top-tier insights.
Without further ado, here are the best marketing conferences to attend in 2023 and 2024:
Ideal for: Digital marketers, marketing managers, SEO specialists, and professionals interested in overall digital marketing strategies and trends.
DigiMarCon is a comprehensive digital marketing conference series that takes place in 40 cities across 18 countries (and one international cruise), making it arguably the largest digital marketing conference in the world.
Attendees can expect to learn about social media marketing, SEO, content marketing, data analytics, and customer experience via the event’s expert insights, best practices, real-world case studies, interactive workshops, panel discussions, and networking sessions.
Date: August 7 & 8, 2023
Location: Seattle Convention Center Summit in Seattle, Washington (two livestream pass options available)
Ideal for: SEO specialists and digital marketers
MozCon is a hub for SEO enthusiasts. The conference features presentations from leading SEO experts. Attendees can expect the latest on search engine optimization and ranking strategies, complete with guidance on how to make data-driven marketing decisions and future-proof your business. This year’s conference is all about the future of search, with a special focus on ChatGPT, E-E-A-T, and TikTok.
Date: August 16-17, 2023
Location: Minneapolis, Minnesota
Ideal for: All digital marketers
Digital Summit is a series of conferences held throughout the United States. The conferences cover digital marketing, content marketing, and social media topics. Dates and locations vary per conference. View the full schedule for 2023 here.
Digital Summit is also holding an online conference titled “Deep Dive into Social 2023” on September 7, 2023. The one-day virtual conference is jam-packed with a masterclass, breakout sessions, and how-tos with actionable resources.
2023 AMA Summer Academic Conference
Date: August 4-6, 2023
Location: San Francisco, CA
Ideal for: Digital marketers, business leaders, and content creators
The 2023 AMA Summer Academic Conference features research that highlights the role of marketing in the broader business ecosystem.
Location: Boston Convention and Exhibition Center, Boston, MA
Ideal for: Marketers, sales professionals, and business leaders
Inbound 2023 by HubSpot offers three curated agendas to help attendees maximize their experience– one for marketing, one for sales and business development, and one for growth acquisition marketing. The conference features inspiring keynote speakers, educational breakout sessions, networking opportunities, and hands-on workshops.
Digital Marketing World Forum Global
Date: September 14-15, 2023
Location: Miami, FL
Ideal for: Digital marketers, marketing managers, content creators, and professionals interested in the latest digital marketing trends and best practices.
The Digital Marketing World Forum Global is an international event series that explores the future of digital marketing technologies through keynote presentations and interactive sessions. The conference features the following content tracks:
Content and digital brand strategy
Data and insights
Digital experience and e-commerce strategy
Influencer marketing world
Social media and community marketing
AdExchanger's Programmatic I/O
Date: September 26-27, 2023
Location: Hilton Midtown, New York, NY
Ideal for: Programmatic, data-driven professionals from brands, marketing agencies, publishers, and technology companies.
AdExchanger's Programmatic I/O is a conference centered around advertising and ad tech. Attendees can look forward to educational discussions on programmatic buying, data-driven marketing, and the future of advertising technology.
MarTech (Marketing Technology Conference)
Date: September 26-27, 2023
Ideal for: Digital marketers and business leaders interested in MarTech.
If you’re interested in learning more about the intersection of marketing and technology, the MarTech conference will be right up your alley. Attendees will explore the latest tools, technologies, and techniques in marketing strategy, including advertising automation. It’s also completely free to register.
Content Marketing World
Date: September 26-28, 2023
Location: Washington, D.C.
Ideal for: Content marketers, writers, editors, and marketing managers
Content Marketing World is the place to go for all things content. Event attendees will learn the newest best practices for content marketing strategy, creation, distribution, and measurement.
LavaCon covers all things content. Attendees can expect in-depth sessions on content planning, storytelling, content SEO, and best practices for delivering valuable content to target audiences. The conference also explores emerging content marketing trends like interactive content, visual storytelling, and AI.
Advertising Week New York
Date: October 16-19 2023
Location: New York, NY
Ideal for: Advertising professionals, brand marketers, media buyers, and marketing executives
Advertising Week New York hosts a hefty lineup of 12,000+ industry peers, 600+ speakers, 400+ sessions, and 20+ content tracks. The event unites the brightest minds in marketing, advertising, media, and tech. Attendees will learn from industry leaders, uncover new trends, and network with peers from all over the world. Virtual sessions are available online for 30 days post-event.
Social Media Strategies Summit
Date: October 25-27, 2023
Ideal for: Social media managers, content creators, digital marketers, and business owners interested in optimizing their social media presence and campaigns.
The Social Media Strategies Summit is a virtual conference designed to help senior-level social media marketers audit and revitalize their social media strategies to promote brand awareness and customer loyalty. Pre-summit workshops take place on October 25, 2023, and the General Summit will happen in the days that follow.
Attendees can expect keynote presentations, panel discussions, case studies, and interactive workshops on subjects like content creation, influencer marketing, community building, and social media advertising.
SMX (Search Marketing Expo)
Date: November 14-15, 2023
Ideal for: Search marketing professionals, SEO specialists, PPC managers, and digital marketers.
SMX is a conference on all things search engine marketing, both SEO and PPC. Attendees can expect in-depth sessions on search engine marketing with valuable insights into top advertising platforms.
Traffic & Conversion Summit
Date: January 9 - 11, 2024
Location: Caesars Forum, Las Vegas, NV
Ideal for: Digital marketers, growth hackers, and e-commerce pros
Known for its emphasis on digital advertising and conversion optimization, the Traffic and Conversion Summit teaches digital marketing strategies specifically designed to drive traffic and convert.
Expect sessions covering new traffic channels, customer-centric marketing, new conversion breakthroughs, and ultra-current breakout sessions.
Social Media Marketing World
Date: February 18-20, 2024
Location: San Diego, CA
Ideal for: social media marketers, content creators, community managers, and business owners
Social Media Marketing World features top-notch social media marketing strategies, expert-led sessions, case studies, and networking with fellow social media professionals. Attendees can expect to learn the latest on creating successful social media advertising campaigns.
Date: April 8 – 10, 2024
Location: Paris Hotel & Casino, Las Vegas, NV
Ideal for: Lead generation specialists, digital marketers, sales professionals, and business development managers interested in improving their lead acquisition strategies
LeadsCon is a conference for marketers interested in improving their lead generation and customer acquisition strategies. The event bundles the latest trends, tools, and techniques for converting leads into expert-led sessions, case studies, and interactive workshops.
Los Angeles eCommerce Summit
Date: May 16, 2024
Location: JW Marriott LA LIVE, Los Angeles, CA
Ideal for: e-commerce marketers, online retailers, and digital marketing professionals in the e-commerce industry
The Los Angeles eCommerce Summit is a local gathering of LA’s top ecom experts and decision-makers. It focuses on e-commerce strategies, digital advertising, user experience, and customer retention for online retailers. Attendees can expect to hear industry experts share insights into website optimization, digital advertising campaign implementation, and data analytics.
Gartner Marketing Symposium/Xpo
Date: June 3-5, 2024
Location: Denver, CO
Ideal for: Marketing leaders, CMOs, marketing strategists, and professionals responsible for marketing technology decisions and customer experience optimization
The Gartner Marketing Symposium/Xpo features new research and actionable insights on topics like AI, marketing strategy, multichannel marketing, and brand strategy. Attendees can expect keynotes from Gartner analysts, expert-led sessions, workshops, and networking opportunities.
Gartner Data & Analytics Summit
Date: March 11-13, 2024
Location: Orlando, FL
Ideal for: Data analysts, marketing analysts, data-driven marketers, and marketing strategists
The Gartner Data and Analytics Summit is a conference tailored to challenges faced by data and analytics professionals. It covers topics like data management, predictive analytics, customer segmentation, and data visualization. Attendees will learn from Gartner analysts, industry leaders, and case studies. The most recent summit prioritized the following topics:
Delivering digital business success
Attracting the right talent and skills
Dispel the myths of AI
Understanding data ecosystems
Optimizing intelligent decisions with competitive differentiators
The marketing conferences above are great opportunities for learning and networking, but they aren’t the only way to learn about new advertising technologies. MarinOne’s experts can help you supercharge your paid search, social, and e-commerce advertising efforts. Book a personalized demo to get started.
Today, one of the biggest technological advancements is Artificial intelligence (AI), which has immense B2B sales and marketing potential. That's why enterprises have transformed their marketing strategies by adopting full automation via smart AI technology.
Around 87% of businesses plan to use AI for sales forecasting. Whether it's engaging more website visitors or managing predictive analytic campaigns, AI is quickly becoming an integral part of the success of B2B marketers. In this article, we'll take an elaborative look at the impact of Artificial Intelligence on B2B sales and marketing and the challenges and opportunities that come with it.
Impact of AI on B2B Sales & Marketing
With AI technology, B2B sales and marketing have witnessed significant and transformative growth, revolutionizing various aspects of the industry by enabling businesses to enhance their whole business process.
AI helps businesses and encourages customers to have a more personalized experience. Through this, marketers use their software to get insights and provide the customer with smart purchase decisions.
AI has made predicting customers' future purchase choices and shopping patterns easier using predictive analytics blended with the natural language process.
We have all seen how Amazon uses AI-powered product recommendations using tags like 'recommended for you' or 'customers also bought' while purchasing or adding something to your cart. This works amazingly for the brand by encouraging customers to increase the value of their carts.
With automation tools, it has become quite easy to facilitate repetitive and time-consuming tasks in AI-driven B2B marketing. Automating email outreach, lead nurturing, and follow-up activities can be managed by robots so that high-value activities, such as building relationships, could be prioritized by real human beings.
AI in B2B sales and marketing has also influenced competition in business. It has worked to many organizations' advantage by enabling them to deliver optimized marketing campaigns, provide a superior customer experience, and generate more qualified leads.
5 Ways How AI will transform B2B Sales and Marketing
Enhanced Lead Generation and Scoring
AI in B2B marketing has started overcoming some of the biggest challenges marketers face, including generating high-quality leads and increasing leads. The labor intensity of data collection, analysis, and management plays quite a significant role in marketing problems. That's why data collection and analysis can be automated by incorporating AI into lead generation processes. This results in an increased number of quality-generated leads. Lead generation is a time-consuming manual task, so when automation came into this area, it became a powerful business process optimizer and a strong IT business strategy.
Pro tip: Focus on the call to action. Ensure your call to action button requests the user's details and stands out from the background. The button text must be clear; for instance, 'Download Free eBook' tells users the result of a click. The button's location should be eye-catching.
Your content can be amazing and optimized, but it will only succeed if you publish it right. And that's where the implementation of AI in the B2B space works the best. It helps drive maximum engagement by providing the right content at the right time and in the right manner.
Simply put, the best time to publish any written or social media content is in the evening or afternoon. Similarly, the best time for sending marketing emails is in the morning, when your audience wakes with a fresh mind. AI monitors your customer's behavior to determine the optimal publishing times. This way, it schedules your content and publishes it accordingly on its own.
Optimized Website Functionality
Usually, in B2B businesses, marketers miss out on scrutinizing their website performance data to identify any issues or improvement areas. But with AI-powered analytics tools, machine intelligence can shorten complex data into easy and actionable insights.
And the best part is that if there is any sudden or unauthorized data transfer, AI can immediately notify the marketers about it. The same goes for when there is an abrupt spike in a critical metric, like the percentage of the audience that leaves your website just after a single page session. This way, businesses can improve their website's functioning and performance.
The main problem with SEO optimization manually isn't just the time consumption; it's far more than that. And AI recognizes that and helps inform the new content by identifying trendy content, making keyword predictions, and discovering competitive gaps. Moreover, AI optimizes your website's old content for SERPs using dynamic keywords strategy and link updates. This way, your old content stays fresh, and the new one stays ahead of the curve.
Although AI cannot be that reliable when it comes to actually creating engaging content, with its marketing tools, writers can surely use it to enhance and optimize their content according to SEO best practices. AI-powered tools will help you make more optimized, professional, and error-free content.
Pro tip: Remember, SEO isn't just about keywords anymore; it's about providing valuable content. Research Google's recent "Helpful Content Update" to ensure your content is on the right track. This update emphasizes a people-first strategy and encourages SEO experts to focus on search intent, relevant subtopics, and content demonstrating expertise and depth. SEO is a lot more than just adding keywords; you need to deliver substantive value.
Improved Customer Insights
To keep your business at a competitive advantage, it's essential to conduct personalized targeting from the minute a customer enters your sales funnel. This is essential to developing accurate buyer personas and ideal customer profiles (ICP). And this is where AI benefits most through social listening and analysis tools that help businesses achieve their goals.
Challenges and Opportunities in AI Implementation
AI has played a significant and transformative role in strengthening the B2B sales and marketing industry. By improving business-customer relationships and streamlining sales processes, AI has enhanced the multi-segment marketing strategies of B2B businesses. However, the new technology also comes with certain challenges as well as opportunities, which we have discussed below:
Data Quantity and Quality: One of the biggest challenges B2B marketers face with AI implementation is data quantity and quality. The thing with AI algorithms is that they require large amounts of data to make more accurate predictions.
Skepticism: Another major challenge with AI implementation is skepticism in people's minds about its capabilities. Customers often hesitate to interact with the AI-powered system, making it quite difficult for businesses to adapt to AI usage.
Incorporation into existing systems: Incorporation of AI into the existing sales and marketing methods can also be challenging for businesses, as they have already invested in implementing these systems. So, incorporating AI would become more difficult and time-consuming as well.
Outmoded Infrastructure: As AI delivers the desired results, it also requires much information to process within seconds. And that becomes quite difficult with the outdated infrastructure many companies still use. To learn and develop methods with machine learning, one needs to be prepared to invest in its tools, infrastructure, and application, which becomes very challenging for marketers.
Requires Good Investment: Implementing AI in your business takes time to come cost-efficiently. You need to collaborate with an AI expert and launch an ongoing AI training program for your employees to get comfortable with AI and the requirement for machine learning tools. And all of this requires a good investment.
With the help of AI-powered tools and insights, businesses are boosting their sales by meeting the demand and needs of customers, generating more leads, and giving them a personalized experience. And as marketing is known to have the best usage of AI thus far, in the coming years, the B2B sales and marketing industry will be revolutionized on a whole new level.
When it comes to advertising on Amazon, two key metrics that sellers and advertisers need to pay attention to are advertising cost of sales (ACOS) and return on ad spend (ROAS). Understanding and optimizing these metrics can be crucial in maximizing profits and achieving business goals. In this blog post, we'll take a closer look at Amazon ACOS and ROAS, how they’re calculated, and how to improve them to drive success on the Amazon platform.
Understanding Amazon ACOS and ROAS: key metrics for success on the platform
As one of the largest online marketplaces in the world, Amazon has become a crucial platform for businesses of all sizes to reach and engage with customers. One of the most important aspects of success on Amazon is the ability to advertise products and services effectively. That's where metrics like ACOS and ROAS come in:
ACOS represents the percentage of ad spend compared to the total sales generated from that spend.
ROAS measures the revenue generated for every dollar spent on advertising.
Both ACOS and ROAS metrics play a critical role in helping businesses understand the effectiveness of their advertising efforts and make informed decisions to optimize their advertising strategies. A lower ACOS indicates that a seller is spending less on advertising to generate a sale, which is generally a positive sign for the success of the campaign. In contrast, a higher ROAS indicates that the seller is generating more sales revenue for every dollar spent on advertising, which is also generally a positive sign for the success of the campaign.
Maximizing your advertising budget: how to improve Amazon ROAS
Improving your Amazon ROAS is key to maximizing your advertising budget. Here are some strategies to consider:
Focus on high-converting and long-tail keywords
By targeting high-converting keywords, you can maximize your chances of generating sales from your advertising spend. In addition, long-tail keywords are more specific and less competitive than broad keywords, which means they can be more cost-effective to target. By focusing on long-tail keywords that are relevant to your products, you can attract more qualified traffic to your listings and improve your ACOS.
Optimize product listings
A well-optimized product listing can improve click-through rates and conversion rates, leading to higher ROAS. For example, if you have a product with a low conversion rate, improving the product listing by adding better images or a more detailed description can lead to more sales without increasing your ad spend.
Monitor and adjust bids regularly
Regularly monitoring and adjusting bids for your ads can help you optimize your budget and improve ROAS over time. When you identify areas for improvement, you’ll achieve better results. For instance, if you notice that a certain campaign is consistently generating a high ACOS, you may need to adjust your targeting or bidding strategy to improve the efficiency of your spend. Tools like MarinOne have AI-driven features that automatically update bids and take away the manual work for paid media managers.
Leverage Amazon's targeting options
Amazon offers a range of targeting options, including keyword targeting, product targeting, and interest targeting. Trying different targeting options can help you find the best approach for your business.
Pro tip: Prioritize profitability at the product level. Delve into detailed data to understand the profit margins of individual SKUs before introducing paid advertising. This will spotlight the products that could gain the most from advertising, thereby mitigating risk.
Amazon ACOS: how to optimize your ad spend
Optimizing your Amazon ACOS is crucial to maximizing the effectiveness of your ad spend and driving profitability on the platform. Here are some tips to help you optimize your ACOS:
Set realistic goals
Before you start optimizing your ACOS, it's important to set realistic goals based on your business objectives and industry benchmarks. An optimal ACoS is not universally applicable, as it depends on numerous factors like product category, profit margins, competition, and product price. Therefore, sellers should aim for an ACoS tailored to their specific circumstances, generally between 15-20%. While a low ACoS might seem ideal, striving for as low as 1% is nearly impossible and may not be desirable depending on the business's advertising goals and product specifics. Understanding the break-even ACoS, where ad spend equals profit, is also essential in campaign planning.
Experiment with different ad formats
Amazon offers a range of ad formats, including sponsored products, sponsored brands, and sponsored display ads. To discover which one is right for your business, experiment with all of them and see which one yields the best results.
Continuously monitor and adjust your campaigns
Regularly monitoring and adjusting your campaigns can help you optimize your ad spend and improve your ACOS over time. When you consistently watch your campaigns’ performance, you can determine which patterns are working, and which ones aren’t.
Pro tip: Focus on enhancing product convenience. This significantly impacts Amazon usage. Factors like lengthy shipping times or unexplained higher costs can reduce convenience, leading to fewer sales and conversions. Remember, pricing and shipping are key for customers.
Use negative keywords
Negative keywords are keywords that you don't want your ads to show for. By adding negative keywords to your campaigns, you can prevent irrelevant or low-converting traffic from clicking on your ads, which can improve your ROAS.
For example, if you sell high-end products and don't want your ads to show for searches related to "cheap" or "discount," you could add these keywords as negative keywords to your campaigns.
How to calculate Amazon ACOS or ROAS targets
To calculate your Amazon ACOS, you'll need to have access to your Amazon Advertising account and the following information:
Total ad spend
Total sales generated from ad spend
Once you have this information, you can use the following formula to calculate your ACOS:
ACOS = (Total ad spend ÷ Total sales generated from ad spend) x 100
For example, if your total ad spend is $500 and your total sales generated from ad spend are $2,000, your ACOS would be:
ACOS = ($500 ÷ $2,000) x 100 = 25%
This means that you're spending $0.25 on advertising to generate each dollar of sales.
Calculating ROAS is simple, you can use this formula to calculate your ROAS:
ROAS = (Total sales generated from ad spend ÷ total ad spend)
For example, if your total ad spend is $600 and your total sales generated from ad spend are $2,200, your ROAS would be:
ROAS = ($2,200 ÷ $600) = 3.6
This means that you're getting a ratio of 3.6 return on ad spend.
Navigating the world of ACOS and ROAS with MarinOne
ROAS and ACOS determine the efficiency of your PPC campaigns. Knowing these formulas is helpful — but only if you truly understand how they can be applied to different scenarios. When you do, you’ll be able to achieve your business goals and scale to greater heights.
By following our tips and strategies outlined above, you can maximize the effectiveness of your ad spend, drive profitability, and achieve your business goals and objectives on Amazon.
Need help navigating the world of Amazon ACOS and ROAS metrics? The MarinOne team is here to guide you. Contact us for more information or to schedule your demo today.