Innovation Led by AI
The realm of marketing is experiencing a revolutionary shift with the advent of AI technology. At Google Marketing Live 2023, it became evident that this is an optimal time to be in the market, as understanding and leveraging AI will be able to boost success in ways we have never seen before. Google is taking the lead by providing actionable AI recommendations that can be immediately implemented to enhance your business strategies. The theme of this event was right on point when they stated, “Your marketing multiplied by Google AI”.
Conversational Experience In Google Ads
The first of many enticing product releases at Google Marketing Live was the conversational experience integrated within Google Ads. This in-platform feature is taking a leap forward in creating a more natural and engaging experience for marketers. By leveraging natural language conversations, marketers can develop keywords and ad copy seamlessly. Think of it as ChatGPT, but specific to data-driven marketing recommendations. This exciting feature will become available in July. Additionally, later this year, generative AI will be utilized to create assets by extracting text from landing pages and other account data. With your expertise combined with Google AI, you can achieve the best results for your campaigns. Just remember, “AI output is only as good as human input”.
For retailers, Google introduced Product Studio, an innovative tool that simplifies the creation, management, and uploading of products to their feed. Harnessing the power of AI, Product Studio enables dynamic backgrounds for product photos, allowing for easy customization for seasonal changes and other relevant updates. This feature can even sharpen low resolution product images, getting them ready for the eyes of the consumer. The results speak for themselves, with an impressive increase of 76% in impressions and 32% in clicks when leveraging this feature.
Performance Max Features
Performance Max has continuously evolved to deliver remarkable results for marketers. Since its release three years ago, it has achieved a 13% increase in conversions. Now, Performance Max has raised the bar even higher, boasting an 18% increase in conversions. Additionally, the introduction of high-value new customer acquisition through value-based bidding further enhances its capabilities. In the near future, Performance Max will also suggest new images, while still giving you full control of your brand story. Furthermore, it will offer insights on asset performance and recommend new assets, enabling you to stay ahead of the game.
Google Ads Additions
Google Marketing Live 2023 introduced a handful of new features and campaign types to Google Ads, enhancing the advertising experience for marketers. To list a few:
- Brand Restrictions in Broad Match: Gain better control over brand messaging by guiding Google’s understanding of brand-related terms within the broad match keyword setting.
- AI in Smart Bidding: Leverage artificial intelligence and machine learning algorithms to automate bidding strategies, optimize performance, and gain valuable insights.
- Video View Campaigns: Combine skippable in-stream ads, in-feed ads, and Shorts ads to maximize video views on YouTube.
- Demand Generation Campaigns: Display ads across various Google platforms to drive conversions, utilizing a lookalike segment builder to expand audience reach.
These additions offer marketers more diverse advertising options and improved campaign performance insights. Google Ads continues to provide valuable tools and features, ensuring advertisers can optimize their strategies and achieve exceptional results.
To establish a strong basis for AI implementation, Google emphasized the importance of several key aspects:
- Foundation: Begin by establishing site-wide tagging with the Google tag and set up enhanced conversions. Assign values to your conversions to enable better tracking and analysis. Upgrade to GA4 (Google Analytics 4) to provide deeper insights into user behavior and performance.
- Customer Connections: Uncover new pockets of demand by marketing at the speed of unpredictable consumers. Harness the power of AI to identify emerging trends and adapt your strategies accordingly.
- Creative: With AI, you can create high-quality ads in an instant. Leverage AI-powered tools to streamline the ad creation process and deliver compelling content to your audience. Use these tools to deliver dynamic creatives of all orientations.
- Confidence: Under the pressure to make quick decisions, it is essential to spend every dollar effectively. Google’s AI-powered solutions equip you with the confidence to optimize your campaigns and ensure efficient resource allocation.
Til Next Year!
There were so many impactful releases, product updates, and strategy recommendations, that we couldn’t even fit all the details into our blog (such as Merchant Center Next and Search Ad Integration). Bottom line is that Google Marketing Live 2023 showcased the immense potential of AI in revolutionizing the marketing landscape. By embracing AI-driven tools and strategies, marketers can unlock new possibilities, enhance campaign performance, and deliver exceptional results. With Google’s actionable AI recommendations, marketers now have the opportunity to leverage their expertise in conjunction with AI capabilities to create impactful campaigns and thrive in the dynamic world of marketing.
Google is testing out additional AI tools, which you can check out at g.co/labs.