Product labelling is a feature within Billy Grace to label your products in Google Ads based on Billy Grace attribution data. These insights/ labels can be used in your ad manager to use specific products in specific campaigns. We use a categorization matrix which is structured around two metrics, where each quadrant represents a unique category based on the combination of these metrics. An example of the categorization matrix:
The x-axis represents a specific volume (e.g., spend > 10 euros per week), while the y-axis represents a performance goal (e.g., ROAS > 1 per week).
The quadrants are typically defined as follows:
Top left quadrant: low spend (in this example; < 10 euros) + high performance (ROAS > 1). In this quadrant are products with low spend and good performance. This is why we label them Hidden Gems.
Bottom left quadrant: low spend + low performance. In this quadrant are products with low spend and also low performance. This is why we label them Idle Stars
Top right quadrant: high spend + high performance. In this quadrant are the most important products for your sales, as they represent high ROAS and high spend. This is why we label the products in this quadrant Top Performers.
Bottom right quadrant: high spend + low performance. In this quadrant are the products with low performance relative to the spend. Therefore, they are labelled Under Performers.
How do you create a categorization matrix?
First, navigate to the product labelling dashboard in the left menu. (the product labelling functionality is only available when you use the Channable add-on).
Click on ‘Create New Product Labelling Strategy’ to create a new categorization matrix.
First, provide your strategy with a name. Switch on the ‘Export labels to Channable’ toggle to activate the strategy.
Secondly, set the volume for the x-axis. This variable will determine how the group is split, based on metrics like clicks, impressions, or spend. For the volume, set the condition, value and time period, for example, ‘spend’, with a condition greater than or equal to 10 over a one-week time period.
Thirdly, configure the y-axis variables. Choose the goal metric, condition, value, attribution model, and attribution window from the options on the right side.
Goal: the name of the custom event to be tracked.
Condition: set the condition (greater than, less than, or equal to) for evaluating the metric.
Metric: select the metric associated with the custom event.
Value: enter the value required for the condition check.
Attribution model: choose the attribution model applied to the condition.
Attribution window: the attribution window that is used for the attribution model in the condition check.
The x-axis time period is used as the basis for defining the y-axis.
The name of the quadrants can be changed by clicking on the edit function in the top right corner of each quadrant.
Top right, you can see which products are underneath each label. In which the coloring of the labels are connected to the quadrants:
If you are happy with your strategy, you can click Launch Strategy
The next day, the Channable URL will be available. Follow the steps below to implement your strategy.
Channable
1) Import The Channable URL will be available in the product labelling overview as a button copy to clickboard. This will copy the URL to easily paste it. In Channable you will import the BillyGrace labels together with the product ID so they can send with your feed to Google Ads.
Go to Channable and click on setup. Click Combine Import.
You will see this screen:
Search for the CSV option:
Enter a name for the import, paste the CSV URL from the clipboard, and press save. Now the Billy Grace import is complete. Ensure that the mapping is valid. For the project fields, specify the field where you want the billyGraceLabel to be mapped.
The billyGraceLabel is the field used to categorize the quadrant, while product_id is the field that connects each product ID to your Channable feed. Typically, billyGraceLabel is mapped to a custom_label in Google Ads, which helps organize products into specific campaigns. Ensure the ‘Combine’ option is set to Combine on field to align the field with your current workflow. Finally, select ID (or product_id) as the field for combining items with the same value. A correct setup might resemble the example shown below:
2) Setup
Navigate to Feeds:
Finalize the mapping:
Now you can map your billyGraceLabel with one of the custom labels for Google Ads. This is to specify which products with a label should correspond to what campaign, see below:
You can now create your Google Ads campaigns based on the 4 quadrants: hidden gems, idle stars, top performers, and low performers.