Advertising goals play a fundamental role in defining your campaign strategy. They help you identify the performance metrics to track and provide actionable insights on the levers to pull to achieve long-term success. Advertising goals should coincide with where your products fall in their life-cycle.
Action: Choose Advertising Goals for your Products
Set a goal for each product. Goals set at parent product level will transfer down to all associated SKUs. If products have varying objectives, you can customize these at the product level. Product lines with multiple goals will show as ‘combination’ at the parent product level.
Strategy: How to Determine Product Goals
Consider where your product is in its life-cycle when determining the correct advertising goal to set. You can choose from: Launch, Growth, Profit or Liquidation
Products in different stages of their life-cycle require different strategies in order to accomplish their goals:
For example, in the image above you’ll see Men’s Workout Orange Tank Top is new to advertising. That means it’s in the launch stage, and product awareness is your focus. You’ll see high spend/ACoS, but it’s in service of driving traffic to your listing and generating reviews!
Whereas for more seasoned or mature products, in the profit stage, such as the Dark night blue T-shirt, you may be focused on driving incremental revenue at the most efficient spend. These products typically have medium level of sales and low spend/ACoS. These tend to be my best sellers, where I'm looking to maintain metrics.
*Most sellers will find themselves in the launch or growth stage.
Learn more about Advertising Goals and Associated Metrics.
Additional Functionality: Use Product Metrics to Make Decisions
Custom sorting and filtering provides valuable insights on when setting goals. Here are some examples:
- Sort ad sales from low to high or add a custom filter "less than $500" to identify products with low sales. Set a goal of 'launch' for these products.
- Sort by ACoS. Identify products with lower ACoS and high sales, set a goal of 'profit'.
- If you’re setting goals for a large catalog, use the filter ‘missing goal’ to quickly identify products that still need goals set.
How do we use goals?
Goals set here will influence the suggested starting MACS for each ad group and will allow the AI-powered bidding algorithm to make smarter bid adjustments.
Goals set here will be transferred to the new column on the Product Metrics page.
Next: Step 3: Set Target Audiences for your Campaigns