Intro

The process of diving into large data sets may seem intimidating without knowing where to start or how to recognize progress. Fortunately, the procedure of compiling product segments, then applying segment strategies, and finally finding results is not as complex as it may appear.

Basics of Analysis

In Product Insights, successful data querying is a matter of investigating real-time data for patterns that can be employed towards a definitive outcome, like saving budget on bad products or boosting budget on good products.

Discover Insights for Better Budget Management

You can analyze patterns in your spend distribution from two different factors:

Product attributes: Categories, brands, product types, and custom attributes such as margin groups, etc.
Metric buckets: ROAS buckets, revenue buckets, Average Sale Price buckets, et

Budget Distribution Based on Product Attributes

For this analysis, the Product Attribute Breakdown chart will be demonstrated.

Browse to Product Insights, and select the Product Attribute Breakdown tab at the top of the page
In the "Attribute Breakdown" selector above the graph, choose an appropriate attribute type such as brand
1. Default attribute types are Brand, Category level, and Product types
2. Custom attribute types depend on your custom data integration; a common example is margin groups
In the metric selectors, choose two metrics involved with your analysis topic of interest (with one being spend from Meta or Google)

The chart shows an overview of your attribute groups in terms of Amount Spent (blue columns) and the other chosen metric (green line).

Consider the chart in the following example with revenue.

The chart displays the fact that the biggest portion of the spend goes to Nike and Adidas brands, but these are also generating the biggest portion of revenue. Conversely, brands like Casio or RIPNDIP are using quite a lot of spend without generating any revenue.

This analysis result can help you to strategize brand-specific campaigns and find the opportunities that lie within these products.

Budget Distribution Based on Metric Buckets

For this analysis, the Performance Breakdown chart will be demonstrated.

Browse to Product Insights, and select the Performance Breakdown tab at the top of the page
1. This histogram will divide your product inventory into portions according to intervals of the selected metric
In the "Bucket" selector above the graph, choose an appropriate metric such as Product ROAS or Average Sale price (examples of both are below)
In the other selector, choose another metric involved with your analysis topic of interest, such as Amount Spent

ROAS Bucket

Consider the following example below using ROAS:

In this case, the chart displays the fact that approximately 85% of spend goes into the lowest ROAS bucket of 0-1.79. This shows that the remaining products in the other ROAS buckets are very underpromoted, even though their performance is very good.

This analysis result can help you set up an effective definition for your Poor Performers. With this strategy, you can limit promotion of these low ROAS products then move that spend to more successful products instead.

Average Sale Price Bucket

Consider the following example below using ASP:

In this case, the chart displays the fact that approximately 40% of spend goes into the lowest Average Sale Price bucket of 11.99-83.15 EUR. This is a very common issue within product inventories because Meta and Google algorithms prefer lower priced products that are easier to convert.

This analysis result can help you set up a strategy that allows you to focus your budget on higher priced products which represent profitable opportunities.

Discover Insights to Scale Online Sales

To discover insights for scaling revenue you can find two different kinds of good products:

Products that are doing well on their own and are worth investing in
Products that are currently underpromoted but have big potential

How to Discover Products Doing Well

When you want to generate higher revenue with your campaigns, start by filtering products that are compatible with your goals and KPIs.

To find products that are already doing well, consider what measurable impact they have such as high Revenue from Meta, good ROAS, acceptable CTR, etc.
Try narrowing down this segment better using the Performance Breakdown chart.
In this example, we can see CTR buckets and the revenue they generate. The most significant portion of revenue is generated by the 1.26-3.39% CTR bucket. If you want to focus your spend on these specific products, further narrow down your filtration from CTR>=1 to CTR>=1.26:
Now save the segment. After a few minutes, it will appear in your Segments Dashboard. After that the segment is ready for campaign execution.

For more on product strategies focusing on the right products, read here:

Promote Bestsellers

How to Discover Products with Potential

This method is great at finding products for new, additional sources of revenue. These products are often underpromoted by Meta or Google algorithms, but by creating separate segments for them and allocating separate budgets to them, you can push the Meta and Google algorithms to show them to your customers more.

Start by clicking "+New Segment" above the Segment selector at the top of the filtration panel to clear all filtering criteria:
Filter in the products that are underpromoted:
Our results are:
In this case, 4,226 products spent only 70 EUR in the past 30 days. Let's deep dive into what these products are.
Return to the Performance breakdown chart and start your exploration by choosing metrics that interest you which are not tied to spend. A good example is Product Detail Views from your website, which are products that are popular on your website but barely promoted.
Choose the Product Detail Views (All traffic sources) bucket in the Performance breakdown chart and observe where your spend is going:
Here we can see that the majority of spend is invested in the 0-54 views bucket, but other buckets with more views are underpromoted, even though these products are still interesting for your customers.
Now let's explore these products with closer filtration:
Here are our results:
This segment consists of 661 products (4% of all products), with spend of only 5 EUR per month, but revenue from all traffic is 134,668 EUR.

These are your Hidden Gems; products that are performing very well on your website or other channels, but without enough spend from you to fully excel.

If you want to invest more into these products, create a segment out of them, put them in a Product Set or Product Group, and apply them to your campaign with an allocated budget.