How often should I make changes to campaigns that are using LM?
There are some principles each Label Manager user should keep in mind for the long-term gains from the tool.
1. Campaign optimization with Label Manager is ongoing and overall no different than without it. It only becomes easier and at the same time more efficient.
2. Label Manager is a data-driven solution so it depends on data coming from Performance Max or Shopping campaigns. If the campaigns were inactive for a week or two, it may cause more products to slide down to lower-performance segments, such as Wasters or Sleepers.
3. Label Manager takes into account past product performance, but it can't account for everything - any significant product changes (such as >20% price adjustments), seasonality, or availability may have a small time lag before appearing in the analysis results.
Given all of the above, we recommend using the following optimization workflow with specific situations altering it:
1. Check the campaign under Label Manager every week, ideally on the day after the latest analysis is conducted. This would guarantee that you’re seeing the latest segmentation results. In case of uncertainty, check the last analysis date on the Label Manager dashboard and click “Fetch now” on the corresponding supplemental feed in Google Merchant Center, then wait for approximately 2 hours for results to appear in Google Ads.
2. After checking the performance, adjust budgets based on the campaign’s goal where Winners and Prospects should have all the room they need while Sleepers may need to be further restricted.
Other situations, that may require immediate action:
3. Large assortment inflow - The new products are likely to appear in the No-index segment for the first couple of weeks. To give them more breathing room, increase the budget of this segment accordingly to account for the new items in it.
4. High season coming on the market or the niche - Right after it ends, be sure to adjust break-even ROAS accordingly for a week or two in Label Manager settings. This would prevent fake Winners from appearing and stealing from the budget based on performance that is no longer there. However, please keep in mind that it should still be about 75% points lower than the actual Target ROAS you expect from your Google Ads campaign (eg. 425% from 500%).}
Typical scenarios for routine management of Label Manager campaigns
Besides all the settings and workflows suggested, here are the three most common scenarios that Label Manager users should follow to reach the desired goals. Please be advised that these are just general recommendations and they can’t be applied universally to every store or even campaign.
In case of difficulties with Label Manager usage or optimization, we encourage you to report your specific cases and needs to our support team white we will improve our data integration to account for more factors over time.
Goal: Increase ROAS while keeping the conversions volume
Goal: Increase Sales volume w/o increasing budget
Goal: Decrease Cost spending while keeping ROAS and Sales Volume stable
3. Why should I use Cobiro Label Manager instead of similar, open-source scripts?
Indeed, there are similar, open-source scripts for Google Ads that could produce results similar to what Cobiro Label Manager does, such as Flowbelizer from PPC Mastery.
It could be a better option for certain stores, especially if they’re okay with the absence of essential features, which make Cobiro Label Manager stand out:
1. Easy plug-and-play setup, no need to hire a freelancer to install and debug the script, which could cost a few hundred $ just in their fees, not including administering the process.
2. Continuous updates and feature improvements based on the latest Google Ads practices. As of Premier Partner of Google, Cobiro stays sharp and in close contact with Google Ads development team to get early access to new features and deliver them to our users ahead of others.
3. Customer Support and tailored recommendations on the tool usage. As every store is different, we offer a consultation with our E-commerce and Google Ads experts, who will audit your store and suggest the best Label Manager setup for your goals.