If you’re an e-commerce pro in the jewelry segment, you know that competition is high in PLA channels — and it’s not just because Valentine’s Day is around the corner.
Competition around popular queries like “diamond earrings” and “gold necklace” never goes away. Price points range widely among jewelry retailers, making it challenging to ensure your products appear to your target demographic. Purchase cycles tend to be longer for many jewelry retailers.
This can create a lot of complexity when defining and implementing your PLA strategy. So how can you make sure you’re spending the right amount in the right channels? When it comes to Google Shopping in particular, we’ve seen a few best practices emerge.
1. For Complementary Items, Bid More Aggressively on One Item — Not Both.
Within your catalog, there are probably some items that shoppers tend to buy with other items. For example, say your site data shows that customers frequently buy a particular pair of $30 earrings with a certain $60 necklace, raising the AOV by 50 percent. Now you have a potential opportunity: You could bid more aggressively on the earrings because you know that shoppers will tend to buy the $60 necklace, too. Which brings me to point #2 …
2. Educate Shoppers.
The higher the price of an item, the more research shoppers tend to do. Your product pages are key places to provide that education. Once shoppers click a PLA, they should arrive at a page that shows the value of the product so they understand how it’s different from other items they might be viewing from competitors — and other items they’re viewing on your site.
3. Give Shoppers Options.
Shoppers like options and your product pages again play a key role here. Use each product’s page as a means to immerse shoppers in your site overall. For instance, feature that $60 necklace on the product page for the $30 earrings, and vice versa, and highlight why the two pieces go well together.
4. Segment Your Campaigns by Household Income.
This approach is most relevant to retailers that sell higher priced jewelry. Whether to purchase higher-end jewelry and what to buy are usually tied to disposable income. Retailers can capitalize on this simple truth by creating a campaign containing items between, say, $2,500 and $5,000, and then targeting that campaign to areas with high household income. Start by experimenting with a small set of items targeted at a few locations, and determine if conversion rises. It might taking some trial and error, but it can lead you to uncover an opportunity to optimize your campaigns.
5. Map Your Bidding Strategy to Your Seasonal Peaks and Valleys.
Smart marketers know that simply ramping up spend in the weeks or days leading up to peak selling seasons isn’t enough to thrive in such a competitive segment as jewelry. Look at historical data on your site to understand when your customers start buying for various holidays and seasons. Determine when you should bid more aggressively to capitalize on increased search interest, and when you should bid less aggressively due to reduced search interest.
We all know that buying jewelry can be an emotional decision, and there are a lot of factors that can push shoppers over the edge to click “buy” — but these are a few approaches that we’ve seen work better than others. A few other posts on our blog that have insights along these lines are: