Similar to setting up your Campaign Groups in Opteo, entering a target profit margin percentage or a target ROAS will help you get the best performance from Opteo Shopping improvements. Our algorithm can then make recommendations based on your specific goals.
How do I organise my Shopping Conversion Settings?
From your Account Centre, select the account you would like to import your shopping settings for. Then, head to Settings (at the top right of the page) and choose Shopping Conversion Settings from the ''Jump to'' dropdown menu.
Click Import Shopping Campaigns, and Opteo will pull through all your standard shopping campaigns. You can then select your preferred bidding strategy, set your targets (Target ROAS or profit margin), and choose the conversion actions that you want Opteo to consider.
All of these can be set at the campaign level. For example, if you have your campaigns split out by profit level, Opteo allows you to set different profit margins per campaign.
Once Opteo has this information, we’ll then start to generate ‘Resync Product Group’ and ‘Adjust Product Group Bid’ improvements.
Which bidding strategy should I choose?
The bid strategy you set in Shopping Conversion Settings is important as this is what Opteo will use to analyse whether a campaign is under or over performing.
For example, if you choose target ROAS, and set a 200% target, Opteo will find campaigns that are performing below this level and suggest optimisations designed to bring them back in line with your target. Similarly, Opteo will also find campaigns that are performing much better than the target and may suggest bid adjustments to capitalise on these.
On the other hand, Maximise Profit isn’t concerned with hitting a particular ROAS; it is concerned with making the maximum profit for the advertiser. Choosing Maximise Profits and entering the profit margin of a campaign means that Opteo can take this information into account when assessing performance.
For example, imagine our profit margin is 50%. If we spend $40 on advertising to generate a sale worth $100, our actual profit is only $10 (50% of $100, minus the $40 advertising cost). Opteo will use this logic when analysing performance to suggest bid adjustments to maximise profits.
Opteo can only generate improvements for standard shopping campaigns.
Shopping campaigns must have at least one impression before Opteo can analyse them.