6 July, London – Google is updating its Smart Shopping this month to Performance Max which has advanced capabilities in closing big-data gaps, boosting in-ad performance. Good news? Not according to certain segments of the PPC community (brands and agencies alike), who’ve created a misleading picture for retail businesses with negative articles and opinions on the new technology.
Upp, co-founded in 2019 by veteran tech’ disruptor Ben White and e-commerce innovator Drew Smith, is on a mission to quash these fears and support the agencies and retailers that may be nervous about the new upgrade – or fear it encroaches on their territory.
Upp, the world’s first connected retail performance platform, has seen that online brands and retailers performance issues aren’t simply limited to ad spend (for example 40% of products are also incorrectly priced) and is determined to create a world where online brands and retailers can thrive. By building strategic software connected to business goals, Upp is leading retail businesses to truly understand the impact of marketing spend, reduce unnecessary costs, and improve profit.
Upp can see that harnessing Performance Max’ new capabilities will help online retailers and brands. Drew Smith, CEO commented:
“Google’s technology is best in class and agencies, brands and retailers should not shy away from the change to Performance Max. In fact, the way to win is to control ad spend and product performance using AI-powered technology that can take Google’s data and connect it with product and inventory data – so you’re not left in the dark or relying on Google to optimise your performance for you.”
“We can certainly support both retailers and agencies in turning this mandatory transition into an opportunity to increase both ad performance and ultimately revenue.”
“Agencies and in-house teams structure campaigns based on a category split, with a limited focus on SKUs within a product range – because it’s simply impossible for them to address mass amounts of data to a usable degree. By connecting first-party inventory data with Google’s live consumer data, Upp automatically optimises product ad performance to match supply with demand and maximise profits in real-time. Human teams simply cannot keep up. Especially when you factor in the limitations of a working day and a finite capacity of resources for manual intervention.”
Upp was built to unlock the power of data and use it to take action (24/7) to drive retailers’ success. The facts speak for themselves:
Upp’s data-led audits and analyses of retailers’ performance, across multiple industries, found that growth is limited because 88% of products advertised received minimal visibility, top 15% of SKUs received negligible visibility, ROAS threshold prevents 42% of SKUs from being advertised, on average only 55% of available paid marketing investment is spent and as much as 40% of Ad Spend generated zero revenue.
Contrastingly, Upp clients are achieving on average a 62% increase in the rate of transactions, a 48% increase in available budget spend, and a 27% increase in growth of revenues.
As a market-leading force, Upp is disrupting traditional models, manual tasks, and PPC agency roles. Replacing ambiguous marketing budgets with a seamlessly connected retail performance platform – giving transparency and control to retailers whilst boosting their online ad performance.
For retailers and brands who want to get Performance Max ready, Upp has published a (free) e-book which can be downloaded here.
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