Share of Voice (SOV)
Attributed and total sales
Bids and CPC
Metric 1️⃣ - Organic Rank and Share of Voice (SOV)
The Search Insights tab in Perpetua allows you to look at your Organic Rank and Share of Voice (i.e. the % of search results real estate occupied by your products) for any tracked search term. This is available for a diverse set of organic and paid product listing placements (i.e. Sponsored Products Top of Search, Sponsored Brands Product Collections, Organic, and more).
For example, an exercise supplements company can look at the Sponsored Product Top of Search results for the term ‘protein powder’ over the last 30 days. Upon seeing they take up less than 5% of the results, they can choose to increase their aggression for that term or even target a competitor who has a higher SOV percentage.
Metric 2️⃣ - Sales Volume
Identify which times of the day and days of the week the sales volume is the highest. When looking at hourly sales volume, advertisers can see when CPC is the lowest and bid more aggressively on those time intervals.
For example, if you see that sales are the highest and CPCs are the lowest Tuesday, Thursday, and Friday from 11:00 am to 2:00 pm, we recommend multiplying your bids by ~1.5x during these times and on these days to take advantage of the low CPCs to both capture incremental sales and increase total sales.
It’s important to note that doing so may result in trading off efficiency as the times when CPCs are the lowest do not necessarily equate to the times when CVRs are the highest and ACOS are the lowest.
Metric 3️⃣ - Impressions and Click-Through Rate (CTR)
Review impressions and click-through rates in Stream. They provide you with a great starting point to identify times when you get the highest traffic and greater than normal clicks on your ads. High CTR indicates the level of engagement. This represents a strong potential for conversions. Pairing this data with CVR and CPC, determine whether you want to bid more aggressively to see if you can gain more traffic and sales.
Metric 4️⃣ - Conversion Rate and Cost-per-Click (CPC)
Because all advertisers have their daily budgets replenished at 12 am PST each day, these early hours of the day commonly see the highest CPCs. But are your customers most likely to purchase during these times? Use the Stream tab to identify the times of the day / days of the week when CPCs are less competitive, but customer conversion rates are highest. You can reallocate your advertising aggression and bid during these times to increase the shopper's footprint on your page.
For example, the morning and weekend spike in CVR is significant, with conversion rates around 2x higher than late evening. You can see CVR is about 16-20% in those periods compared to 8-11% as we get closer to the evening hours. If we layer the CVR data with ACoS data, we can find the sweet spot of below-average ACoS along with high CVR.
We recommend starting with a 150% multiplier. Ideally, we want to see more sales driven during these high CVR hours so evaluate performance by measuring attributed sales and total sales volume during these times after implementing your Stream schedule.
Article last updated December 2023. If you find this information to be out of date, please contact firstname.lastname@example.org