{"id":10386,"date":"2024-07-03T09:25:32","date_gmt":"2024-07-03T09:25:32","guid":{"rendered":"https:\/\/smarter-ecommerce.com\/blog\/en\/?p=10386"},"modified":"2024-10-28T13:21:02","modified_gmt":"2024-10-28T13:21:02","slug":"profit-optimization-for-smart-bidding-are-you-ready","status":"publish","type":"post","link":"https:\/\/smarter-ecommerce.com\/blog\/en\/google-ads\/profit-optimization-for-smart-bidding-are-you-ready\/","title":{"rendered":"Profit Optimization for Smart Bidding \u2013 Are you ready?"},"content":{"rendered":"\n<p>Google dropped some \ud83d\udd25 news at <a href=\"https:\/\/support.google.com\/google-ads\/answer\/14835145?hl=en\" target=\"_blank\" rel=\"noreferrer noopener\">GML 2024<\/a> with their new Profit Optimization feature for Smart Bidding. It&#8217;s a game-changer for Performance Max (PMax) and Shopping campaigns, promising to prioritize profit over revenue.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-basics\">\ud83d\udd11 The Basics: <\/h3>\n\n\n\n<p>Instead of just focusing on revenue (hello, ROAS), Google&#8217;s AI now targets profit. It subtracts Cost of Goods Sold (COGS) from the revenue to get gross profit. Smart, right? But, it only works if you feed Google two critical data points:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Conversions with Cart Data (CwCD) \u2013 Think detailed order insights.<\/li>\n\n\n\n<li>COGS Attribute \u2013 The actual cost of the items sold.<\/li>\n<\/ul>\n\n\n\n<p>The good news? No extra learning period! The bad? Only 5% of advertisers are ready. Yep, COGS data submission is that low, mostly because people are <strong>hesitant to share their cost data with Google<\/strong>. \ud83e\udd14<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"428\" src=\"https:\/\/smarter-ecommerce.com\/blog\/en\/wp-content\/uploads\/2024\/10\/adoption-of-cogs-cwcd-2024.jpeg\" alt=\"\" class=\"wp-image-10395\" style=\"width:592px;height:auto\" srcset=\"https:\/\/smarter-ecommerce.com\/blog\/en\/wp-content\/uploads\/2024\/10\/adoption-of-cogs-cwcd-2024.jpeg 800w, https:\/\/smarter-ecommerce.com\/blog\/en\/wp-content\/uploads\/2024\/10\/adoption-of-cogs-cwcd-2024-300x161.jpeg 300w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Adoption of COGS and CwCD in Q1 2024<br>Source: Smarter Ecommerce proprietary data 2024<\/figcaption><\/figure>\n<\/div>\n\n\n<p>Caveat: Our data shows 40% CwCD adoption <strong>but<\/strong> CwCD is part of our standard smec tracking implementation so we&#8217;ve certainly skewed this above market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-why-should-you-care\">\ud83d\udd0d Why Should You Care? <\/h3>\n\n\n\n<p>Early adopters could ride this to serious profit gains. But here&#8217;s the catch: getting your COGS data in order is a hassle and a lot of businesses are\u2026not ready.<\/p>\n\n\n\n<p>So, are you going to embrace profit-driven bidding or let this one pass by? \ud83d\udc40<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-profit-bidding-optimization-at-smec\">Profit Bidding Optimization at smec<\/h3>\n\n\n\n<p>Profit Bidding Optimization at\u00a0<strong>smec<\/strong>\u00a0revolves around <strong>aligning ad spend with profitability<\/strong> rather than just revenue goals. In essence, it&#8217;s about making smarter, profit-focused decisions for Google Shopping or Performance Max (PMax) campaigns by using business-critical data. This shift allows online retailers to overcome challenges like low margins and rising ad costs.<\/p>\n\n\n\n<p>The goal is to not just focus on traditional ROAS (Return on Ad Spend), but to steer campaigns towards products that contribute the most to profitability. Here\u2019s how smec achieves this:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Multi-Dimensional Product Segmentation<\/strong>: By using smec&#8217;s tools, advertisers can segment their products based on profitability, seasonality, or other business-relevant metrics instead of just past sales performance\u200b\u200b.<\/li>\n\n\n\n<li><strong>Profit Data Integration<\/strong>: smec integrates gross profit per transaction into campaign strategies. By calculating profit instead of just revenue (taking costs of goods sold into account), retailers can optimize their bids to focus on high-margin products\u200b\u200b.<\/li>\n<\/ul>\n\n\n\n<p>This approach helps e-commerce advertisers focus their resources on the most profitable parts of their inventory, ensuring that campaigns drive more sustainable and long-term growth\u200b\u200b.<\/p>\n\n\n\n<p><a href=\"https:\/\/smarter-ecommerce.com\/en\/demo\/\">Get in touch<\/a> with us to learn more about our solution.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google dropped some \ud83d\udd25 news at GML 2024 with their new Profit Optimization feature for Smart Bidding. It&#8217;s a game-changer for Performance Max (PMax) and Shopping campaigns, promising to prioritize profit over revenue. \ud83d\udd11 The Basics: Instead of just focusing on revenue (hello, ROAS), Google&#8217;s AI now targets profit. It &#8230;<\/p>\n","protected":false},"author":91,"featured_media":10391,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[479],"tags":[704],"class_list":["post-10386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-google-ads","tag-microblog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.7 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Profit Optimization for Smart Bidding \u2013 Are you ready?<\/title>\n<meta name=\"description\" content=\"Early adopters could ride this to serious profit gains. Here&#039;s the catch: getting your COGS data in order is a hassle. Are businesses ready?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/smarter-ecommerce.com\/blog\/en\/google-ads\/profit-optimization-for-smart-bidding-are-you-ready\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Profit Optimization for Smart Bidding \u2013 Are you ready?\" \/>\n<meta property=\"og:description\" content=\"Early adopters could ride this to serious profit gains. Here&#039;s the catch: getting your COGS data in order is a hassle. Are businesses ready?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/smarter-ecommerce.com\/blog\/en\/google-ads\/profit-optimization-for-smart-bidding-are-you-ready\/\" \/>\n<meta property=\"og:site_name\" content=\"smec Blog | Follow current Ecommerce News, Trends &amp; Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SmarterEcommerce\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-03T09:25:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-28T13:21:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/smarter-ecommerce.com\/blog\/en\/wp-content\/uploads\/2024\/10\/profit-optimization-smart-bidding.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1120\" \/>\n\t<meta property=\"og:image:height\" content=\"440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Manuel Baudisch\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@smec\" \/>\n<meta name=\"twitter:site\" content=\"@smec\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Manuel Baudisch\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/\"},\"author\":{\"name\":\"Manuel Baudisch\",\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/#\\\/schema\\\/person\\\/38eb8d206c5edd0853ed71b5dc268d43\"},\"headline\":\"Profit Optimization for Smart Bidding \u2013 Are you ready?\",\"datePublished\":\"2024-07-03T09:25:32+00:00\",\"dateModified\":\"2024-10-28T13:21:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/\"},\"wordCount\":409,\"publisher\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/profit-optimization-smart-bidding.jpg\",\"keywords\":[\"microblog\"],\"articleSection\":[\"Google Ads\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/\",\"url\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/\",\"name\":\"Profit Optimization for Smart Bidding \u2013 Are you ready?\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/google-ads\\\/profit-optimization-for-smart-bidding-are-you-ready\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/smarter-ecommerce.com\\\/blog\\\/en\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/profit-optimization-smart-bidding.jpg\",\"datePublished\":\"2024-07-03T09:25:32+00:00\",\"dateModified\":\"2024-10-28T13:21:02+00:00\",\"description\":\"Early adopters could ride this to serious profit gains. 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