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TPE #39: new pMax script for product performance and segmentation

Apr 24, 2023

Read time: 3 minutes

Great news, we have a new Performance Max script for you! It was created by our community member Floris de Schrijver.

Let’s look at what you can do with it (link to the script will be shared at the end of this newsletter).

 

New pMax script: Flowbelizer → analyze product performance and create campaign segmentation

This script allows you to do two things:

  1. Analyze product performance
  2. Create labels to segment your campaigns

 

You need to configure the script with your ROAS/CPA targets, average conversion rate, impressions thresholds, and a date range.

Based on this data, products will be put into one of four categories:

  • Index (products that perform on target)
  • Over-index (overperforming products)
  • Near-index (products that perform near target)
  • Under-index (underperforming products)

 

Note: products with low impressions (below your threshold) don’t get a performance label so you’d need to create a Zombies campaign if you want to push them individually.

It works similarly to ProductHero’s Labelizer, but for free.

Let’s take a look inside.

 

1: Analyze product performance

After you configure the script, you can see how your products perform compared to your targets and how many products fall into each category.

It’s nicely formatted into a spreadsheet with tables and graphs:

 

 

Insights we’re getting from this script (client-specific):

  • Google spends the majority of the spend (66%) on under-index products
  • Most of the revenue comes from near-index products (42%)
  • Only 32% of revenue comes from (over-)index products
  • 71% of all product IDs perform under-index

 

Based on these insights, you could optimize your campaigns by dedicating more budget to the best performing (over-)index products.

The only way to control spend on specific product IDs is by creating new campaigns. This script also allows you to do that.

 

2: Create labels to segment your campaigns

The script automatically labels each product ID, which you can use to segment your pMax campaigns:

 

 

This is how to create campaigns based on the automatically applied performance labels:

  1. Export the data and add it as an supplemental feed in Google Merchant Center
  2. Create a campaign for each label (index, over-index, under-index, near-index)
  3. Set up listing groups according to the product types or custom labels:

 

 

And finally: run the script and supplemental feed every day to refresh the data.

Your products will automatically rotate between campaigns once they receive a new label based on recent performance.

 

TLDR: new pMax script → analyze product performance and create campaign segmentation

And there you have it, a new tool you can use for free.

This script allows you to do two things:

  1. Analyze product performance
  2. Create labels to segment your campaigns

 

A huge thanks to community legend Floris de Schrijver, be sure to follow him on LinkedIn. 

You can download the script here.

And for all implementation-related questions, please reach out to Floris and not us :).

See you again next week!

Cheers,

Bob & Miles

 



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