Target also leads the pack when it comes to paid search spending, a new report finds.
A new paid search management tool helps kick up conversion rates.
PriceGrabber.com, a comparison shopping site that features products from more than 13,000 online merchants, relies on paid search programs to draw traffic, bidding on more than 16 million keywords. But until recently it struggled with an in-house campaign management system that proved incapable of handling its volume of keywords and left the company with a large number of keywords that received no clicks.
Deploying a new search marketing campaign management system from Marin Software, however, enabled PriceGrabber to better filter and organize its large set of keywords, postpone or delete millions of keywords that fail to attract shoppers, and change other keywords in attempts to increase click-through rates—all from a single computer screen, Marin says. The Marin system also provides for automated bidding on keywords.
Case study data on PriceGrabber compiled by Marin shows that, over the past year, the comparison shopping site increased its conversion rate in paid search campaigns by 18%, resulting in a 20% drop in the cost per conversion and a 121% increase in profits from search marketing campaigns.
In addition, PriceGrabber was able to cut in half the amount of time it spend managing paid search. “Our team spends half the time they previously would have spent managing activities,” says Graham Jones, PriceGrabber, general manager. “This time savings has allowed PriceGrabber to reallocate time to much more strategic activities like increasing volume and profit for our already high-volume business.”
PriceGrabber is a unit of Experian Information Solutions Inc., a provider of consumer data and marketing services.