Using Google Tools to Understand Audiences & Drive Performance Part 2
Data & Analytics
Aug 27 2019
What In-Market Audiences Are And How To Use Them
Search advertisers have an array of audience targeting options at their disposal. They can remarket with RLSA, reach current customers with Customer Match, prospect with Similar Audiences, or narrow their reach with demographic targeting. Google Ads also offers a newer targeting tool, In-Market Audiences for Search, that allows advertisers to reach users at the bottom of the sales funnel.
Google classifies searchers as in-market for a variety of products and services ranging from “Motor Vehicles By Brand” to “Gyms & Athletic Clubs” to “Strollers & Baby Carriages” to “Moving & Relocation” – over 170 audiences overall. In-Market audiences allow you to target users whose search & browsing behavior indicate they are actively researching & considering buying, or “in-market” for, your products or services. Targeting audiences with a high purchase intent can drive conversions & help reduce wasted spend. In-Market audiences, which are also available in Microsoft Ads, can be added at the campaign or ad group level.
If you’re unsure which In-Market audiences are most valuable to your business, use Google Ad’s Audience Insights or Google Analytics to find valuable, data-based information on who your customers are and how they compare to the average searcher. Insights are available in Google Ads when at least one of your audience lists includes 1000+ people. An auto dealer client, for example, can reach an audience of 25 to 30 million searchers in-market for “Vans & Minivans” who are 18.6x more likely to convert than the average searcher. This makes sense, however some highly indexed audiences for the same account are less straightforward: those In-Market for “Camping & Hiking Equipment” are 11.6x more likely & those In-Market for “Fireplaces” are 14.2x more likely to convert than the average user.
After deciding which In-Market audiences to test, apply them across your campaigns or ad groups on Observation (Bid-Only) mode. Applying your audiences on Observation mode ensures you can gather data on the In-Market audiences you’ve applied without restricting your campaign targeting. Once your In-Market audiences have gathered enough data in Observation mode, you should have a good idea of which In-Market audiences are driving conversions relative to your account’s overall audience, and can adjust bids up or down based on performance. You can leverage your findings across the Google Display Network, YouTube, Gmail, and Search. Bid these audiences up on search, or create a video or display campaign targeting only the users in your top In-Market audiences. Continue to monitor & analyze audience performance, as it may vary across campaigns & channels. In-Market audiences are a powerful targeting tool that every search marketer should be testing.