Trading Depot: Google Shopping & Performance Max Case Study
Overview
Partnered with Onefeed since Q1 2021; Trading Depot is one of the UK’s leading retailers for the DIY and trade markets, selling over 60,000 products online across Google and Bing. The COVID pandemic had seen the business grow in the previous 18 months and with ambitions to continue that trend, Trading Depot wanted to team with a new marketing agency to help drive further growth. With pandemic spending online seem exceptional growth it was always going to be very hard to show growth year on year after such an exceptional period. We not only improved, we nailed it.
The Challenge
Confident in their competitive product pricing, Onefeed were tasked with growing Trading Depot’s online reach and bringing their inventory to a wider audience. While online revenue grew by 10% during the pandemic the percentage of revenue being generated by paid search marketing showed nominal growth. The biggest challenge was to grow top line sales at a profitable level without impacting the bottom line.
Our Approach
Upon launch in early 2021, Onefeed looked to drive an increase in PPC revenue by creating a more granular account structure of Shopping campaigns focused on key brands as well as themed campaigns around product types. By optimising the product feed using Onefeed’s propitiatory Client Centre system we were able to improve the quality of the feed’s data which in turn drove greater marketing efficiencies.
As early adopters of Performance Max in 2022, Onefeed quickly migrated over to using Google’s latest technology. Having integrated product level cost of goods data into the product feed, Performance Max campaigns were structured around clustered product margins creating a quickly scalable account structure. This could easily integrate new brands and ranges when Trading Depot agreed new commercial partnerships.
During early 2023 it became clear that relying on PMax to deliver growth wasn’t quite being achieved. It was decided a blended approach to PMax and Standard Shopping was the best course of action. As can be seen below; using a sophisticated blend of Performance Max and Shopping we showed exceptional growth in 2023. We currently manage a blended PMax and Shopping approach utilising the power of Google’s AI as well as exercising a level of manual control for key products and ranges through the increasingly powerful Onefeed Client Centre bid management system. Having control over the broader catalogue adds massive value to sales growth.
Key Performance Stats
- +23% Q3 2022 on Q3 2023 increase in revenue
- +21% Year on year PPC revenue increase
- +75% increase in PPC Impression share
- Revenue: 56% Shopping / 44% PMax
- Conversion rate: Shopping 50% higher than PMax
- CPA: PMax 65% higher
- AOV: PMax 50% higher
