Hello and welcome to Digital Minute. This week, we’re taking a closer look at Google’s new AdWords tool - ‘Price Extensions’.
Google’s ‘price extensions’ feature allows advertisers to showcase their services, products and prices within their Google ads.
The update will be an advertiser’s first opportunity to show prices for multiple products, and could be a very effective tool for promoting sales and discounts.
The update is rolling out to mobile ads to begin with, and AdWords users will start to see the option appear in their ‘Ad Extensions’ tab shortly.
What is clear so far is that the new ad extensions take up a lot of mobile screen space, so competition is likely to be extremely fierce – particularly during peak sales periods.
Now, here’s the important bit - only the ad in the top position will actually be eligible for these price extensions.
That is bound to increase competition for that top ad slot and of course, that means that CPAs could increase quite dramatically. How much will advertisers be prepared to pay for this new feature? We’ll soon find out.
We’ve summarised the changes over on our blog and also produced a free guide on Programmatic Advertising, which you can download by clicking here.
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