Let’s talk about Walmart self-serve advertising, shall we?
Believe it or not, Walmart was one of the later companies to enter the self-serve advertising market. They actually released it on Jan. 3 this year! However, they couldn’t just let other company supergiants (like Amazon) take the lead in the advertising industry. Self service is a rapidly growing concept, and more advertisers and agencies are holding on quite tightly.
Walmart is a store that has had a long credible history of serving their customers by offering convenience items and grocery products. Not only that, but they are able to do so with the consistent messaging to keep their pricing low. Walmart also caters to such a large demographic, so advertisers for the products that are sold there would yield great results for the different brands.
When we looked at Walmart ads, we found there are actually five ways to improve your advertising campaigns. With all of the different features involved, it can be difficult to know what will work best, especially when it’s tailored to your specific brand and situation. Together, we’ll break down each one and share how they can be best implemented.
Now let’s get started!
1. You Need to be Intentional With your Campaign Budgets
There are too many times where a budget becomes a guess, and then an agency is either left with too little results or too much money spent. We don’t want that for you!
Oftentimes when an intentional budget is set, then great results are sure to follow.
By utilizing the “set total budget” option that’s available on the Walmart platform, it’s fantastic for when you want the technology to automatically use the budget without having to monitor it. But be careful! When nothing is monitored an advertiser may not see the additional options for a budget to be allocated elsewhere for a better result. The budget won’t be proportional to the entire duration of the campaign.
Also, don’t fall into the trap of making large bid increases. Walmart advertising is based on an auction bid system, so it’s easy to beat out competition, but it may result in overpaying with too little results.
2. Run More Than Manual Campaigns
Sometimes the automatic ad campaigns can make great suggestions for your business, so it shouldn’t be overlooked. With manual ad campaigns, you may not see all of the possibilities, so it’s nice to see another opinion even if it’s based on artificial intelligence.
Automatic campaigns also aren’t limited to search in-grid ad placement in the way that manual ads are. Automatic campaigns will allow your listings to show up in the sponsored carousels and in the buy box on product details.
You’ll also be able to determine what keywords you place In your listing, title, description and other listing section. Walmart will use these keywords to choose where to place the ads and then it will reach a large number of consumers as a result.
3. Don’t Only Use Match Keywords
Walmart actually has three types of keywords that they offer, and the company plans to use them based on your business goals.
For instance, if you want to launch a recurring product, then it might be best to target new target markets in order to drive up your sales and market share. You can also use broad match keywords to increase impressions. Utilize as many keywords as your budget allows.
Pro tip: Do a little research beforehand. That way, you won’t play the guessing game on which keywords will cost too much money for too little of a return on investment. Look at past campaigns and analyze what did well at the time.
Look at the reason why. When an advertiser does the background research on why one campaign may have done better than the other with keywords, he’ll then know what will work better via the product or messaging that’s being communicated.
4. Fully Utilize Performance Data
When performance data is available, always make sure to use it for a better understanding of the results and how well your investments are churning out real revenue.
It’s important to know that your products and ASPs have the ability to vary depending on what page they show up and where they’re ultimately placed for shoppers to view.
Not only is it important, but it’s also vital to test the different pages and ad placements. Advertisers can then better determine the combinations that will drive the best performances for the specific brand involved.
The results from the data will help give the brand their next course of action too. Whether it was well-received by shoppers or poorly seen, it will give brands a better idea on how to truly pivot for better results down the line.
5. Don’t Include All Your SKUs in Your Campaigns
Did you know that for a manual campaign to run it needs to rank in the top 128 organic results to be eligible for advertising? Manual campaigns can definitely be a bit tricky! Save yourself the trouble and identify the SKUs you used before creating your campaigns.
Your product will not only be accepted in the advertising, you can also plan for the advertisement differently outside of the top 128. Let’s say you have an automatic campaign. You can then use that campaign to create brand awareness, increase sales and increase the organic rating.
Our Final Thoughts
So what do we think? Walmart has quite a few features in their campaign. It’s more of a matter on how to use them proactively to drive the best results. Ultimately, each brand and product attached to that brand will need to have a personal marketing touch to each one in order to get the right engagement and is best managed by a Walmart ads agency.
These five steps are a great way to get advertisers jump-started on their campaigns, especially if they haven’t used the platform before.
Have you used this type of platform before or plan to in the future? If so, let us know what you think about the Walmart self-serve advertising platform.