Good news is coming to Search as advertisers will soon be able to add In-Market audiences to their Search campaigns to target high-purchase-intent consumers.
In-Market audiences are made up of users who are in the market for something specific such as a handbag or a trip to Greece. Google understands users’ interests and intent based on the sites they visit within the Google Display Network and/or on Google owned sites and through videos they watch on YouTube, etc. Based on a user’s activity, Google buckets users into In-Market audiences, allowing advertisers to target categorized high-intent customers.
Currently available for your Display campaigns, In-Market audiences will soon become available for your Search campaigns as well.
So how is this good news for Search?
In-Market for Search can help advertisers reach customers interested in making a specific purchase at potentially higher conversion rates and lower costs per conversions. Adding relevant In-Market audiences to your Search campaigns can help you gather information on which In-Market audiences your target audience falls under and how they convert.
For example, say you are a real estate broker with properties in Houston, but you don’t know if people are interested in renting or buying houses at the moment. You can begin by learning your market through adding “bid only” “In-Market Houses for Sale” and “In-Market Houses for Rent” audiences (with 0% bid modifiers) to your Houston Search ad groups. With time, you will be able to gather information on performance for both audiences to see if one audience performs better than the other.
If users in this case convert better in the “In-Market Houses for Sale” audience, you can increase the bid modifier for this audience if you are willing to pay more per click for a higher converting audience, exclude the “In-Market for Rent” audience to save money altogether, or add the “In-Market Houses for Sale” as a “target and bid” audience in a separate ad group to better reach and measure these high intent customers.
With this two-step, “learning + adjusting” process, you can uncover high converting audiences and capitalize your investment.
How will this work?
Currently, this feature is in a closed beta stage and will open again at the end of Q3.
We opted into the beta for an automotive client, and have seen great initial performance with the addition of In-Market audiences to their Search campaigns.
We started out more general with applying “bid only” In-Market audiences such as “Used Cars” and “New Cars,” with 0% bid modifiers. After just two weeks, we saw CVR was on average 14% higher within the In-Market audiences of their top ad groups. In the upcoming weeks, we plan to increase the bid modifiers of the successful In-Market audiences and add more granular In-Market audiences to relevant ad groups, such as adding “In-Market Honda” to their Honda campaign.
You can expect the same In-Market audiences available to GDN to be available for Search in this beta.
What does this mean for advertisers?
With the addition of In-Market audiences, advertisers can look forward to refining their Search prospecting approach and improving their prospecting performance.
The ability to reach more users who are actively interested in making specific purchases is game-changing! Through machine learning and understanding user intent signals, Google has shifted their Display audience targeting approach from “context,” to “people,” and it is time to get on board this fast-moving train. You can tailor your copy to reflect users who are in the market for purchases or you can simply expect better results.
Through the end of Q3, go check out which In-Market audiences your campaigns fall under in the ‘Dimensions’ tab in DS, and make sure to reach out to your reps to get whitelisted!