When selecting which products to include within the same Instacart Goal, two main factors should be considered.
Group Like Products
We recommend grouping products that share over 70% of the same keywords. Doing so will ensure keyword targeting is tailored towards characteristics specific to the products within each group.
For example, if your brand sells both cookies and crackers, the keywords that lead to high conversion and sales for cookies, aren't necessarily going to be the same as those for crackers. For this reason, you'll want to separate the two product categories into their own goals on Perpetua.
Group Similarly-Priced Products
In addition to grouping products that share a significant volume of keywords, it's a good idea to group together products that fall within a similar price range. This is because the CPC (Cost-Per-Click) you're able to afford to achieve your desired return, directly relates to how products are priced.
For instance, if your target ROAS is 2.0x, the maximum CPC you're willing to pay on any individual keyword will vary significantly depending on price. See below:
For Product A, you're willing to pay up to $5.00 for a click (assuming a 100% conversion rate). In contrast, you can only pay up to $0.50 per click for Product B which has a much lower price.
ROAS and Daily Budget Targets
If you are already advertising on Instacart, Perpetua recommends setting your Target ROAS and budgets consistent with performance over the past 30 day period.
For new products, we recommend setting initial Target ROAS low within all segments. This will allow Perpetua's engine to increase bids and scale spend within your new campaigns.
Please reach out to your Data Strategist or to email@example.com if you have questions or see further guidelines below.
Branded Targeting applies to bidding on keywords directly related to your brand, such as your brand name and other branded product terms. ROAS for branded terms should be higher than unbranded terms, while daily budget should be set relatively low.
Spending on branded targeting should be used primarily as brand defence to ensure top-of-search ranking against other companies also targeting your brand name. That said, you'll want to limit spend as much as possible to avoid cannibalization of organic sales from existing customers who search for your products.
We recommend starting with a ROAS target that is comparable to what you are achieving on other platforms (e.g. Amazon, Google ads).
A good indicator of how aggressively competitors are targeting your brand, is the CPC on branded terms. A low CPC indicates very little players are targeting your brand whereas a high branded CPC means competitor brands are targeting your branded terms aggressively. Remember that the lowest bid is $0.15, so the closer your branded CPC is to $0.15, the less competition there is on your brand.
Unbranded Targeting applies to bidding for both category and competitor keywords. When setting your target ROAS and daily budget, you'll want to be more aggressive in this area in comparison to branded targeting.
We recommend starting with a low ROAS (between 1.5 and 2.0) and slowly scaling over time. This is to ensure your ads actually serve for unbranded terms that are related to your products. By setting ROAS too high, your bids may not be aggressive enough to actually spend on Instacart.
Category and Competitor Targets for Advanced Targeting
If you choose to select "Advanced" targeting for your goal on Perpetua, unbranded targets will be further broken down into competitor and category segments. You may need to start with an even lower ROAS for competitor keywords as keywords tend to be amongst the most expensive on the platform.