Transcription of video:
Hello everyone, Dave Grooms here, and welcome.
The weather is quite gloomy morning here. I’m actually quite excited about today. I’m going to be working on a project for one of our clients. He’s got a large e-commerce store. They got over 60,000 products and the main source of new business traffic is by Google Shopping. I don’t know if you’re aware of Google Shopping, but it’s actually quite powerful. What it does is when you type in say if I search about ABC widget, it will go and show you pictures descriptions and pricing from a number of suppliers for that ABC widget, and it gets displayed right at the top of the Google listings, and it’s really a price comparison sort of website really. Displace at the top and also down the side as well in some situation, and it’s a great source of traffic. If somebody types in ABC widget up, up comes your picture, up comes your pricing. They just click on it, and they go straight to your buying page.
It’s really really good; however, it has some really big problems. Your product will be listed alongside your competitors’ product, and your competitors will also be displaying their price, their picture, and their description. The only thing that sort of varies you really on which one you click on will be mainly the price of all the pictures the same, all of the descriptions are the same, then prices the next thing to look at.
If you’ve got the lowest price, you’re going to get a lot of traffic. Unfortunately, Google doesn’t help you with this, and it’s very very difficult without looking up every single item one at a time to find out what the competitors pricing is, so you could be missing out on lots traffic just for a few quid. Actually, you’re paying to be on Google Shopping, and you’re paying not to get many clicks. if your price is too high and actually if your price was low you actually get quite low cost per click, so it makes real sense to try and be competitive. Now, my job today is to actually write system that we’ll go and look at all 60,000 plus items, find out the prices of all of the competitors, and then put that information into a database.
Once we got it in their database, and tomorrow we’re going to look at a pricing algorithm. We’re going to make some decisions based on the pricing of the item and see whether it would be beneficial for us to lower the price, or we could even decide that we don’t want to reduce our price on that item if we haven’t got a big margin on it, and what we’re going to do is remove it from Google Shopping. There is also some other items where we’re the only people listed. Again, if you type in ABC widget and with the only company that comes up to display that, then we can up that price a little bit. The project can be great.
What we’re going to do is make sure that every single item on Google Shopping is getting a high number of clicks possible, and also at the best price. Today, they have some products that do that. There are other products which actually ran at a loss. This is the whole process really of making sure that we’re not spending money advertising products where we’re not going to get sales, and also when we do advertise the product, we know there’s a high chance that we’re going to win.
Very excited today, I’m really looking forward to it. There’s lots of challenges. Google is not the easiest of platforms to automate. It will stop me at every turn, so it’s going to be a bit of a challenge. When we get this right to this particular company, it’s going to make a huge difference. It’s going to increase the amount of traffic they get, and it’s going to give lower the cost. I click that every item and they say 60,000 items, not something you can do manually. Anyway, I’ll speak to you again soon