Walmart, America’s largest department store chain continues to move forward with its Walmart Connect media business. This includes your core offerings, such as search capabilities and relevance improvements. Their goal is to deliver improvements in experiences for advertisers and shoppers, according to a June Insights post on the Walmart Connect website.
Among the company’s new features are the launch of the retailer’s advanced second-price auction and a new campaign optimization tool called Item Recommendations.
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The new search performance dashboard tool, item recommendations will identify unadvertised items with the potential to perform well in a search or Walmart sponsored product campaigns. The tool scans an advertiser’s entire Walmart product catalog for items that are not active in an onboard campaign, but are eligible to be advertised and have been previously purchased. Recommendations are updated weekly and can be filtered by brand, category, and department.
Recent enhancements to Walmart Connect
Among the improvements is the search relevance. In April, Walmart simplified its ad serving criteria to make all eligible sponsored product ads eligible for relevant in-network results on search and browse pages. Thus, ads can now qualify based on the contextual relevance of the advertised item, customer intent, and historical item performance, to name a few factors.
On the other hand, it is necessary to take into account the advanced second price auction. It’s combined with recent improvements to Walmart’s search relationship. Its new advanced second-price auction aims to reduce advertisers’ risk of overpaying for cost-per-click bids. Launched in early June, this model allows the most relevant product, combined with the best offer, to win the auction. The winner pays the amount necessary to win based on the relevant competing bids, which may be less than the winner’s maximum bid.
Lastly, the new sponsored product placements. The company expanded its sponsored product inventory so that ads run in locations within the one-four network. For the rest of the search grid, two ads will still appear for every 10 results.
