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Google Price Extensions display below your main ad, but only when it is in position one. Displaying ad related products or services (a minimum of three) with prices of each, a headline, brief description and link to the specific product or category allows businesses to communicate more information to shoppers and broadcast exclusive deals or unique selling points.
Google Price Extensions do exactly what they say: extend your ad with relevant price information, providing substantial benefits to advertisers, and customers.
As price extensions mean your ad takes up considerably more space on Google, especially on mobile devices, customers are less likely to scroll past your ad. Instead, they will see your ad as different from the abundance of ads on the page, hence, increasing the chances of them clicking your ad over a competitor’s.
Given that these particular extensions offer more details on products and their prices, consumers are better informed. Because of this, according to Google’s research, price extensions can significantly increase Click Through Rate and result in higher conversions, a win-win for advertisers.
For retailers, price extensions can be used to demonstrate a price advantage for certain brands or products, display a better range of products or advertise a highly sought-after product, again creating extra reasons for consumers to click your ad over a competitor’s.
Despite adding a surprising amount of information to your Google advertisement, Price Extensions can be added at no extra cost. With this in mind, it is worth trialing them and evaluating any changes in Click Through Rate, Bounce Rate and, most importantly, Conversion Rate.
If your products change price regularly, or product price varies drastically, Price Extensions may not be suitable for you. Advertising a price that is different to your website could result in displeased customers, cause a poor brand reputation and increase bounce rate. Adjusting your Price Extensions if you have frequent price changes is likely to cause more work than necessary.
If your prices are higher than competitors it may also deter customers from clicking your ad, resulting in a decline in traffic. However, this could also work in your favour, by decreasing irrelevant traffic that is unlikely to convert.
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