May 27, 2019
How To Use Walmart Keyword Bidding To Boost Your Sales
This blog post was originally published by Deliverr, which is now Flexport. The content has been adjusted to fit the Flexport brand voice and tone, but all other information remains unchanged. With the merging of Deliverr’s services (DTC fulfillment, B2B distribution, and Last Mile delivery) into Flexport’s existing international freight and technology services, we’re now able to provide merchants with true end-to-end logistics solutions spanning from the factory floor to the customer’s door.
Walmart recently introduced keyword bidding for the Walmart Sponsored Products program, a CPC advertising platform that allows Walmart Marketplace sellers to get their listings in front of the right shoppers based on search intent.
Under the Walmart Sponsored Products program, sellers can advertise listings under a “sponsored” banner, and only pay when the ad performs.
However, until mid-April, this program could only run on a product level, and your ads would be shown based on Walmart’s relevancy algorithms.
Today, sellers can determine exactly which keywords they want to “bid” for, and their ads will appear based on keyword match.
Keyword match types
- Exact match: The exact words in the exact order you specified (e.g., “Squirrel hat”)
- Phrase match: The exact words you specified, with additional words before or after (e.g., “Best squirrel hat”)
- Broad match: Relevant words to what you specified, with different word order. (e.g., “Hats for squirrels” or “Small pet clothing”)
Automatic vs Manual Sponsored Product Campaigns
This is what sellers already had access to, before keyword bidding was rolled out. Under automatic campaigns, Walmart decides when to display sponsored products based on keywords in your product title, descriptions, other listing sections, category, and related items. Bids can be set and optimized on a per-product level.
Under the automatic campaigns, your ads can show up in grid search, sponsored carousels across the site, and in the buy box on product detail pages.
This is where the glitter and ribbons come in because it means sellers can now manually select keywords they want to bid on. Your listings will then appear to shoppers based on keyword match. Sellers set their bids at the keyword match level.
Walmart’s keyword suggestion tool can determine the most relevant keywords for the items in your campaign, based on historical performance. You will see up to 220 keywords per SKU, ranked in descending order of relevance.
Under manual campaigns, your ads can show up for search in-grid only.
What about budgets?
Your budget needs to include a minimum commitment of $1,000 minimum campaign spend, and $100 per day.
You only pay when someone clicks through to your ad, and the unused budget rolls over.
So for example, if you have a daily budget of $100 and only spend $20, you’ll have a budget of $180 the next day. This budget will continue rolling over and isn’t used unless your ads are clicked on.
How To Run Effective Walmart Ad Campaigns
Structure your campaigns based on your goals. For example, if you want to drive awareness to a new product you launched, use broad match to increase impressions and utilize as many keywords as your budget allows.
If you’re looking for long-term performance, start with a wide net by using broad match. After a few weeks, review your reports, invest more in profitable keywords, and remove non-converting keywords.
Tip: Use keywords that appear in your product title and description.
Analyzing Your Results and ROI
Walmart Sponsored Products come with a self-serve dashboard of reports, so sellers can monitor how different campaigns are performing.
There are a few different dashboards you can see:
- Keyword performance: Shows keywords searched, bids applied, match type, impressions, clicks, how many units sold, click through and conversion rates, total attributed sales revenue, ad spend, and return on ad spend
- Daily performance: Metrics broken down day-to-day so you can track progress
- Page type performance: The pages you’re showing the most ads on and how they are performing per page
- Brand performance: Metrics segmented by brand that your SKUs are associated with
- Item performance: Metrics broken down by SKU
- Platform performance: How shoppers interact with your ads on desktop, mobile, and app
Where To Start
The dashboards can get overwhelming, so if you’re looking for a simple place to start, head to the Keyword Performance section and look at:
Total Attributed Sales Revenue: This number provides insight into how effective your ad was. It shows how many customers followed an ad and made a purchase.
Return on Ad Spend: RoAS is the total attributed sales revenue divided by your ad spend. It essentially shows your ROI.
Attributed related sales revenue: This metric shows how many customers clicked on or saw your ad, then went to purchase a product within your campaign (not necessarily the ad they clicked on).
How To Get Started
The contents of this blog are made available for informational purposes only and should not be relied upon for any legal, business, or financial decisions. We do not guarantee, represent, or warrant the accuracy or reliability of any of the contents of this blog because they are based on Flexport’s current beliefs, expectations, and assumptions, about which there can be no assurance due to various anticipated and unanticipated events that may occur. This blog has been prepared to the best of Flexport’s knowledge and research; however, the information presented in this blog herein may not reflect the most current regulatory or industry developments. Neither Flexport nor its advisors or affiliates shall be liable for any losses that arise in any way due to the reliance on the contents contained in this blog.