See three (3) ways to perform an in-depth Google Shopping Competitor Analysis and get the best results.
Suppose there is no guarantee of success even after doing everything possible to ensure that your google shopping fed is in good form. The traffic that comes from your Google Shopping Campaigns was quite massive.
If, on the other hand, the bounce rate on your site was high and the session duration was relatively low, then it could be because your products appear for the wrong queries or you are aiming at the correct questions. Still, people do not wish to buy what you sell or probably not buy from you.
Google Shopping competitor analysis is a comparative search engine that compares different products and sellers. If people are searching, clicking, but not buying from you, they may be buying from somewhere else.
Here, we want to see what your competitors are doing, making prospects that don’t buy your products buy from them instead, thereby becoming their clients.
We wish to look at a few steps to enlighten you on what you need to do to carry out good competitor analysis on google and stay ahead of your competitors.
3 steps for in-depth Google shopping competitor analysis results:
1. Find out who your competitors are
You may think you have a good grasp of your competitors in the industry, the names you probably think are the stores that offer the same products or target the same customers.
Google shopping competitor analysis is a different ball game for google shopping competitor analysis. Stores that you won’t even consider real competitors are the ones that are trying to take your rank and lure your customers to their side.
Set up campaigns that go according to the products you offer. By so doing, you will know where your competitors have the upper hand and which of them it is that is trying to outshine you.
RELATED ARTICLE: How Can Google Shopping Category Help Your Business.
2. Show up more without having to pay more.
To improve the visibility of your ads, you must know which brands or products are performing well and the ones that are not performing up to expectation.
Quality scores from your search campaigns can increase. One indicator of quality score in search is the click-through rate you get.
3. Researching your competitors
Find out the reason why visitors to your page are not patronizing you. Instead, they take their patronage elsewhere.
Visitors may have compared prices and gone for the ones that suit them. With this, you may want to find out the price your competitors charge. Doing this will help you set your price at a reasonable level, which is neither too high nor too low, with the budget of your visitors in mind.
Google Shopping Competitor analysis tools
Several tools can help evaluate google shopping competitor analysis and keep you in check. These tools are as follows:
1. Google ads keyword planner
This tool helps to estimate keyword search volume and forecast bid range. Here you type in the keyword crucial to your business from which you get data to understand better search trends and what it is you need.
2. Google Ads campaign Target ROAS simulator
This tool helps to evaluate your current campaign ad and the action of competitors to estimate the growth you would see if you were to make changes to your budget.
3. Google Merchant Center’s Price Competitiveness
The price competitiveness tool compares your prices with those of others that sell the same products, separating them by prices above the average in the industry, in line with the standard in the industry, and below the average industry cost.
4. Google merchant center best sellers
You can use this tool to view the top products in your industry, with these best-sellers based on the products in your google shopping feed.
Although there may be unrelated outliers from competitors that sell a more comprehensive range of products, you can use this tool to see which products are performing well and adjust your shopping and search campaigns based on those trends. You can narrow down these products to form your niche.
5. Semrush PPC Toolkit
This tool helps you closely watch your competitors in the area of keywords, their position in the industry, top ads, and keywords.
Although this tool may not tell you the exact amount that your competitors are bidding on ads, you can use the data to reveal trends and strategies that will come in handy.
6. Ahrefs Site Explorer
You can use it to evaluate the paid search efforts of a competitor. It helps to show the keywords that a competitor is ranking for, their top ads, and the pages they have that are pulling most of the traffic.
7. Spyfu PPC Research
As the name implies, it gives the option to spy on competitors by using its PPC Research tool. Note that data on Semrush and Ahrefs are estimates. Therefore, you should use this data in collaboration with other tools and experience.
In conclusion, google shopping competitor analysis helps a seller be abreast with the trends in the market with products that competitors also sell, the price your rivals sell their products, and why your visitors chose to patronize them rather than stay ahead of these competitors.
You may also like to read our latest article, Why Spotify has so many ads – understanding ads in ecommerce.