Mastering Keyword Bidding: A Guide to Walmart Sponsored Products
Want To Compare The Best Express, Air Freight, Sea Freight, Rail Freight & Trucking Rates So As To Have Better Control On Cost?
Introduction to Keyword Bidding on Walmart
In the ever-evolving world of e-commerce, staying ahead of the competition requires leveraging every available tool. For sellers on the Walmart Marketplace, a game-changing feature has recently been introduced: keyword bidding for Walmart Sponsored Products. This addition to Walmart’s advertising arsenal allows sellers to fine-tune their marketing strategies and reach their target audience with unprecedented precision.
At FreightAmigo, we understand the importance of staying informed about the latest developments in e-commerce and digital logistics. As a full-service, one-stop digital supply chain finance platform, we’re committed to helping our clients navigate the complexities of online selling. In this comprehensive guide, we’ll explore the ins and outs of keyword bidding on Walmart, providing you with the knowledge you need to boost your product visibility and sales.
Understanding Walmart Sponsored Products
Before diving into the specifics of keyword bidding, let’s first understand what Walmart Sponsored Products are and how they function.
Walmart Sponsored Products is a cost-per-click (CPC) advertising platform designed for Walmart Marketplace sellers. This program allows sellers to promote their listings under a “sponsored” banner, ensuring their products appear prominently in search results and other strategic locations on the Walmart website. The beauty of this system lies in its performance-based model: sellers only pay when their ad generates a click.
Until recently, the Sponsored Products program operated solely on a product level, with Walmart’s algorithms determining ad placement based on relevancy. However, the introduction of keyword bidding has revolutionized this system, giving sellers more control over their advertising strategies.
The Power of Keyword Bidding
Keyword bidding empowers sellers to specify exactly which search terms they want to target. This level of control allows for more precise targeting of potential customers based on their search intent. By bidding on relevant keywords, sellers can ensure their products appear in front of shoppers who are actively looking for items like theirs.
Understanding Keyword Match Types
To effectively use keyword bidding, it’s crucial to understand the different match types available. Walmart offers three match types:
1. Exact Match
This match type displays your ad when a shopper’s search query matches your chosen keyword exactly, word for word. For example, if you bid on “squirrel hat,” your ad will only appear when someone searches for that exact phrase.
2. Phrase Match
Phrase match is more flexible, allowing your ad to appear when the search query includes your chosen keywords in the same order, with additional words before or after. For instance, if you bid on “squirrel hat,” your ad might show up for searches like “best squirrel hat” or “squirrel hat for kids.”
3. Broad Match
This is the most inclusive match type. Your ad can appear for searches that include variations of your keywords, including synonyms and related terms. For example, a broad match for “squirrel hat” might trigger your ad for searches like “hats for squirrels” or “small pet clothing.”
Automatic vs. Manual Sponsored Product Campaigns
Walmart offers two types of Sponsored Product campaigns: automatic and manual. Understanding the differences between these campaign types is crucial for developing an effective advertising strategy.
Automatic Campaigns
Automatic campaigns are the original form of Walmart Sponsored Products. In these campaigns:
- Walmart’s algorithms determine when to display your sponsored products.
- Ad placement is based on keywords from your product title, descriptions, category, and related items.
- Bids are set and optimized at the product level.
- Ads can appear in grid search results, sponsored carousels across the site, and in the buy box on product detail pages.
Manual Campaigns
Manual campaigns introduce the power of keyword bidding. With this new feature:
- Sellers can manually select and bid on specific keywords.
- Ad placement is based on keyword match types (exact, phrase, or broad).
- Bids are set at the keyword match level.
- Ads appear in search in-grid results only.
Walmart provides a keyword suggestion tool to help sellers identify the most relevant keywords for their products. This tool offers up to 220 keywords per SKU, ranked by relevance based on historical performance data.
Budget Considerations for Walmart Sponsored Products
When planning your Walmart Sponsored Products campaign, it’s important to consider your budget allocation. Here are some key points to keep in mind:
- Minimum campaign spend: $1,000
- Minimum daily budget: $100
- Pay-per-click model: You only pay when someone clicks on your ad
- Budget rollover: Unused daily budget rolls over to the next day
For example, if your daily budget is $100 and you only spend $20, you’ll have $180 available the following day. This rollover feature ensures that your budget is used efficiently and only when your ads generate interest.
Strategies for Effective Walmart Ad Campaigns
To maximize the impact of your Walmart Sponsored Products campaigns, consider the following strategies:
1. Align Campaign Structure with Goals
Tailor your campaign structure to your specific objectives. For instance, if you’re launching a new product and want to drive awareness, use broad match keywords to increase impressions and visibility.
2. Start Broad, Then Refine
For long-term performance, begin with a wide net using broad match keywords. After a few weeks, analyze your reports to identify profitable keywords and remove underperforming ones.
3. Optimize Product Listings
Use keywords that appear in your product title and description to improve ad relevance and performance.
4. Regularly Review and Adjust
Continuously monitor your campaign performance and make data-driven adjustments to optimize your return on ad spend (ROAS).
Analyzing Campaign Performance and ROI
Walmart provides a comprehensive self-serve dashboard that allows sellers to monitor the performance of their Sponsored Products campaigns. Here are the key dashboards and metrics to focus on:
Keyword Performance Dashboard
This dashboard provides detailed insights into how your chosen keywords are performing, including:
- Search terms
- Applied bids
- Match types
- Impressions
- Clicks
- Units sold
- Click-through rates
- Conversion rates
- Total attributed sales revenue
- Ad spend
- Return on ad spend (ROAS)
Other Important Dashboards
- Daily Performance: Track progress on a day-to-day basis
- Page Type Performance: Analyze which pages are generating the most ad impressions and conversions
- Brand Performance: Review metrics segmented by brand
- Item Performance: Examine metrics broken down by SKU
- Platform Performance: Understand how shoppers interact with your ads across desktop, mobile, and app platforms
Key Metrics to Monitor
While the wealth of data available can be overwhelming, focus on these critical metrics to gauge the success of your campaigns:
- Total Attributed Sales Revenue: This metric provides insight into the effectiveness of your ads by showing how many customers made a purchase after clicking on your ad.
- Return on Ad Spend (ROAS): Calculate this by dividing your total attributed sales revenue by your ad spend. It’s essentially your ROI for the campaign.
- Attributed Related Sales Revenue: This shows how many customers clicked on or saw your ad, then purchased a product within your campaign (not necessarily the exact product in the ad they clicked).
Getting Started with Walmart Sponsored Products
For sellers looking to leverage the power of Walmart Sponsored Products and keyword bidding, there are a few steps to follow:
- Ensure you’re an approved Walmart Marketplace seller.
- Set up your Walmart Seller Center account if you haven’t already.
- Navigate to the Walmart Advertising dashboard within your Seller Center account.
- Create your first campaign by selecting products, setting your budget, and choosing your targeting options (automatic or manual).
- If opting for manual campaigns, select your keywords and set your bids.
- Launch your campaign and monitor its performance regularly.
How FreightAmigo Can Support Your Walmart Selling Journey
As a full-service digital supply chain finance platform, FreightAmigo is uniquely positioned to support sellers on the Walmart Marketplace. Our comprehensive logistics solutions can help streamline your operations, allowing you to focus on optimizing your advertising strategies. Here’s how we can assist:
- Efficient Order Fulfillment: Our digital logistics platform ensures timely and accurate order processing and shipping, helping you maintain high seller ratings on Walmart.
- International Shipping Solutions: If you’re sourcing products globally or selling to international customers, our door-to-door freight quotes for various shipping methods can help you optimize your logistics costs.
- Real-Time Tracking: Our advanced tracking system allows you to monitor your shipments 24/7, ensuring you can provide accurate delivery information to your customers.
- Customs Clearance and Insurance: We offer seamless customs clearance services and cargo insurance options, reducing potential delays and risks in your supply chain.
- Trade Finance Solutions: Our integrated trade finance services can help you manage cash flow more effectively, allowing you to invest more in your Walmart advertising campaigns.
Conclusion
Keyword bidding for Walmart Sponsored Products represents a significant opportunity for sellers to enhance their visibility and drive sales on the Walmart Marketplace. By understanding the nuances of keyword match types, campaign structures, and performance metrics, you can create highly targeted and effective advertising campaigns.
Remember, success in e-commerce isn’t just about smart advertising—it’s also about efficient logistics. That’s where FreightAmigo comes in. Our comprehensive digital logistics solutions can help you streamline your supply chain, reduce costs, and improve customer satisfaction. By combining strategic advertising with robust logistics support, you’ll be well-positioned to thrive in the competitive world of online retail.
As you embark on your keyword bidding journey, don’t hesitate to reach out to our team of logistics experts. We’re here to support you 24/7, ensuring that as your sales grow, your logistics capabilities grow with them. Together, we can help your business reach new heights on the Walmart Marketplace and beyond.
