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What Is It?
The Smart Product Labeler tool by Optmyzr helps you simplify and enhance product labeling in your shopping campaigns. You can create custom rules to label your products based on performance metrics and feed attributes.
You can also get custom suggestions for performance buckets and labels, to help you segregate your products more efficiently.
Why Should I Use It?
Segmenting products into performance-based buckets is a proven strategy to improve the efficiency and profitability of shopping campaigns. With the Smart Product Labeler, you can:
Segment Products Easily: Group products into categories or buckets based on performance metrics or feed attributes, using customizable rules.
Optimize Campaigns Without Scripts: No coding knowledge is required. Simply set up the rules in the tool and get your supplemental data feed in just a few clicks.
Automate Label Updates: Keep your labels up-to-date with changing performance metrics and new product additions.
Handle Large Product Inventories: The tool is designed to work seamlessly with large merchant center accounts, without the need to create listing or product groups for every Item ID.
Enhance Campaign Strategies: Use these labels to create more targeted Standard Shopping and Performance Max (PMax) campaigns with tailored bids and budgets.
How Does the Tool Give Product Label Suggestions?
The Smart Product Labeler analyzes performance data for the selected Merchant Center account and provides actionable suggestions by segmenting products into five performance-based buckets. The segmentation is based on two key parameters:
Performance: Measured using Return on Ad Spend (ROAS)
Volume: Measured using Cost
Following are the five performance buckets:
Heroes
High-performing products that have yielded strong results, often even without significant investment in advertising. These are the top-performing products where you can increase bids and budgets to further improve returns.
Sidekicks
These are products that perform moderately well and are on the verge of becoming top performers. This category is used to avoid extreme differences in bidding actions for products that are performing just below the level of Heroes or just above the level of Villains. It provides a "middle ground" to ensure that products close to the thresholds of these two categories are not treated with drastic changes (like very high bids for Heroes or very low bids for Villains).
So, you might want to consider a gradual increase in spend for products under sidekicks, to help them move closer to top performance without overspending at once.
Villains
Poor-performing products that incur high costs without delivering adequate returns. Since these products have seen enough traffic, but continue to underperform, it is recommended that you lower bids or budgets for these products, or consider excluding them from campaigns.
Zombies
Low-performing products with low traffic or opportunities and little return. Zombies have not yet had enough opportunities to prove their potential and may require strategies to improve their visibility and performance, such as testing new targeting options, optimizing product listings, or increasing exposure with moderate bids.
Flukes
Flukes, as the name suggests, are products that have unusually high returns despite having limited exposure or opportunity. These can be nurtured with minor bid increases to capitalize on their success.
You can use these categories to create dedicated campaigns or ad groups with tailored strategies for each of them.