With Black Friday and the holiday shopping season just around the corner, Google has announced new metrics, currently in beta, based on ecommerce cart data.
Sellers will be able to see detailed reporting on items sold, information on the revenue and profit generated by Shopping ads, and detailed reports on cart size and average value.
At the product level, information can be gleaned about which products are most likely to convert or drive higher value purchases.
“An ad click on one of the products you feature through Google Ads may lead to sales of other products. See which items are purchased after your ads are clicked, which products are most likely to convert, and which items are your top sellers.”
Google says the information available via conversion cart reporting may be the basis for more informed decisions on ad bidding. For example, based on your cart conversion data you may see that certain products which are not necessarily your top sellers are actually driving a lot of profitable conversion-related traffic.
The new metrics available are:
- Orders: Completed transactions attributed to ad clicks.
- Revenue: Income from all transactions attributed to ad clicks; calculated as the sum of the price of all items in a cart.
- Cost of goods sold (COGS): The sum of business costs attributed to a product.
- Gross profit: Revenue minus COGS
- Average order value: Calculated by dividing the Revenue by the number of Orders.
- Average cart size: the number of items in a cart divided by the number of Orders.
In Report Editor you can additionally see product level metrics about products purchased from Shopping campaigns, to help you understand what people buy when they click on an ad.
The metrics include:
- Units sold: Total number of sales of a product.
- Product revenue: Total income from a product.
- Product gross profit: Total profit from a product.
- Product average COGS: The total business costs attributed to this product, divided by the number of products sold, and weighted by impressions.
Google takes into account cross-device conversions.
To see the new data you need to have Google Ads conversion tracking set up with the Google global site tag. There’s more information on how to set up and test cart conversion reporting on Google’s Help Page.