When Google rolled out Price Extensions last month I was stoked to get them added to my e-commerce accounts, and I’ve been really curious to see how they’d perform. If you’re not familiar with Price Extensions, they are ‘additional information that can show with your mobile text ads, showcasing your services and range of products, and how much they cost.’ Here’s what they look like:
For my account, I added the extensions at the campaign level, I added detailed descriptions and chose to use the Price Qualifier ‘From.’
The price extensions have been running in my account for about 30 days. Unfortunately, this client experiences seasonal dips and spikes due to their product type and they are currently in their low season, so looking at each campaigns’ individual Price Extensions data sets doesn’t yet afford enough information to make any definitive decisions as to where to keep, alter or discard the Price Extensions. However, when looking at the aggregated data we get a little better picture:
One thing to note is that Price Extensions will not show with Sitelink Extensions. In this account, the only other clickable part of the ads is the Headline or a Location extension, so it makes sense then that the ‘Other’ category CTR would be significantly higher. Considering that fact for this account, the conversion rate is more the metric to consider when comparing performance of the Price Extensions to the ‘Others,’ and so far, we’re seeing a higher conversion rate with the Price Extensions. Win!
Price Extensions vs. Sitelink Extensions
Since Sitelink extensions aren’t eligible to show with Price Extensions, I wanted to see and compare the stats of user interaction for each. To do so, I chose each extension type from the Ad extensions tab and segmented by ‘This Extension Vs Other.’ I then pivoted the data for each, then extracted just the info in the ‘This Extension’ line item for each extension type. This is what I got:
Looks like the CTR for the Price Extensions is blowing the CTR for the Sitelink Extensions out of the water. The Sitelink conversion rate is statistically significantly higher than the Price Extension conversion rate so far. However, when comparing their Impression to Conversion rates, the Price Extensions are beating out the Sitelink Extensions at 0.05% vs. 0.01%.
Something to note is that this isn’t an exact apples-to-apples comparison considering that, for now, the Price Extensions only show on mobile devices; so use caution especially when comparing CTRs since Sitelinks show on all devices. Unfortunately, we can’t slice and dice the Sitelink data by both ‘This Extension Vs Other’ AND ‘Device’ simultaneously, so for now we have to settle with a less than perfect comparison.
For this account, I will be writing some new Sitelinks to try to help boost their CTR. Additionally, I’m going to continue letting data accrue and revisit Price Extension performance in another 30 days; the higher conversion rate, CTR and ITC rates so far have lead me to keep these extensions running for now. Ultimately, I am of the opinion that the more real estate you can take up with your ads the better, that is if you’re using effective and compelling language in your extensions’ copy and you are regularly setting up new tests.
What about you? What results have you seen so far with Price Extensions? Let us know in the comments below!