Good morning, Marketers, how’s this for a new approach?
First, Google opened up Shopping to free listings. Now it’s ditching the cost-per-sale Shopping Actions program and will forgo commissions when users checkout from Shopping listings via Buy on Google. Not only that, merchants will be able to use Shopify and PayPal for Buy on Google payments.
This is another very big change to Google’s approach to product search and commerce. Clearly, it sees bigger upside in opening its services up to a much larger universe of sellers and products. Presumably bigger selection and smoother checkout will attract more users — and incentivize sellers to spend more on ads.
And speaking of ads, Google is starting to show more attributes in Shopping ads, so check to make sure your feeds are well optimized.
E-commerce has been a bright spot during the pandemic. Yet many more SMBs are in precarious positions. As of July 10, Yelp said that of the roughly 26,000 restaurants listed as closed in March, 60% were now permanently closed. SMBs spend billions on marketing and advertising and if hundreds of thousands of those businesses disappear, it will further affect the entire digital marketing ecosystem, writes Greg Sterling. Businesses that adapt and pivot are more likely to survive, surveys show.