On Wednesday, 22nd May 2024, some of our team
virtually attended the Google Marketing Live 2024 EMEA event. Google ran this
event to discuss its latest innovations, particularly those related to
Artificial Intelligence (AI). “Good AI requires good data”—that’s what we were
taught.
Google and AI go hand in
hand. The company has been investing in AI for over a decade, developing
world-leading models such as Gemini. With six of Google’s products having over
two billion monthly users and another fifteen products reaching over half a
billion monthly users, we cannot deny Google’s ability to provide effective AI
solutions on a global scale. Due to their continued innovation, 30 new AI
features were announced during this event, designed to enhance user experience
and business operations.
In the speakers’ keynotes, Google employees gave us an
overview of the next steps in their AI journey, emphasising the importance of
driving higher-quality clicks and increased user engagement. For example,
Google Lens is already reporting an incredible 12 billion monthly searches, so
one step further, Google has announced upcoming capabilities for video search.
Speakers highlighted the significant benefits of AI
integration with Google Ads, such as real-time ad optimisation, allowing
marketers to see the impact of their strategic changes quickly. Fortunately, they
also stressed that AI has been designed to work WITH, not against, human
marketers, as AI cannot replace or replicate the expertise, emotions, and
experience of human beings.
The ”Power Pair” combination of Search and Performance Max
was a frequently recurring topic during this event. The recommended approach from
Google that we are implementing into our clients’ accounts is starting with
Broad Match keywords and Smart Bidding in a Search campaign and then adding a
complementary Performance Max campaign—this shows an average increase of 27%
more conversions! Furthermore, by using Gross Profit Optimisation in Smart
Bidding for Performance Max, you could see a 15% profit uplift compared to traditional
revenue-based bidding.
Research has shown that when AI is used to tailor ads to
individual users, there has been an average 6% increase in conversions (when ad
strength is Excellent). Other recent AI enhancements include improved reporting
in Performance Max and YouTube and new features in Product Studio that can
create brand-aligned imagery and videos. We have also begun to see more
proactive recommendations and improved data security measures.
Looking ahead, we know that Google intends to expand its AI
generative features to six European languages by Q3 of this year, after only
being available in English until now.
Since starting Demand Gen’s rollout last year, Google has promised
a more visually rich inventory with greater creative control and ad placement
options to drive higher conversion rates. AI-generated ad images can create an
immersive virtual storytelling experience for targeted audiences.
Most importantly, Google’s ongoing commitment to data
privacy in the wake of the new regulations remains its top priority. Since the
new restrictions on third-party cookies came into effect earlier this year,
Google has focused on using first-party data.
In fact, with the complete removal of third-party cookies
predicted by early 2025, Google has implemented several strategies to stay
ahead of the curve, including using Consent Mode, enabling Conversion
Modelling, and setting up Enhanced Conversions. Investments in the Measurement
Diagnostics Hub and the introduction of the Gemini search query bar in GA4 are just
two ways that Google supports marketers during this transition period.
When listening to the Google Product Experts, our team
recognised the emphasis on growth strategies such as building profitability
through value-based bidding and targeting long-term customers. They recommended
tools like the Performance Planner which has already become an integral part of
our team’s processes, especially when following the best practices for target
ROAS strategy.
Rounding off the session was a brief interview with Steven
Bartlett, known from the TV show “Dragons Den” and his podcast “Diary of a
CEO”. His invaluable insights on marketing and leadership, particularly
regarding AI, have made him a popular figure to follow amongst marketers. He
describes the possibilities for AI, including removing biases in the hiring
process due to its objective decision-making compared to humans with natural
subconscious bias. Another point that he touched on that we already implement
is frequent experimentation and A/B testing to learn and improve continuously.
