Google Marketing Live (GML) is an annual event where Google announces its latest product releases and updates in the advertising industry. However, this year’s event left marketers wanting more, especially in terms of B2B-focused updates. In this article, we will explore what was missing from GML, as well as some exciting updates that were announced.
One of the major disappointments for B2B advertisers was the lack of control over match types. Google emphasized the use of broad match for long-tail keywords, which doesn’t align with the needs of B2B advertisers who want to serve users exactly what they are looking for. This shift from exact-match control to broad match puts the placement of ads in the hands of Google, leading to poor Quality Scores and increased bidding costs for advertisers.
B2B advertisers also expressed a desire for more ways to train Google’s algorithm for B2B campaigns. While offline conversion tracking and Enhanced Conversions provide some control, advertisers would benefit from the ability to provide negative signals to fine-tune lead quality. This would allow advertisers to target leads that have sufficient budgets and come from qualifying companies.
Despite these disappointments, there were some updates at GML that sparked excitement. One such update is the ability to use AI to produce videos. This feature, available in Product Studio, allows companies without the resources to create video content to generate AI-generated videos for demand generation campaigns. However, the lack of reporting nuance from Google makes it difficult to understand which creative and messaging strategies are effective.
Another positive update for B2B advertisers is the lowering of seed list requirements for lookalike audiences from 1,000 to 100. This change allows companies in earlier growth stages to test the lookalike functionality and potentially boost pipeline traction.
One intriguing update is Google’s “optimize for profit” bidding option. This feature allows companies to prioritize their bottom line and adjust bidding strategies based on business goals. While there may be some resistance to trusting Google with business data, it is worth testing for relevant clients.
Looking back, May 2024 will likely be seen as a significant month for Google due to the release of AI Overviews and the algorithm leak. These events overshadowed the product releases at GML and left B2B advertisers feeling uncertain about future updates.
In conclusion, while Google Marketing Live provided some updates and features that sparked excitement, B2B advertisers were left wanting more. The lack of match type control and training options for the algorithm limited advertisers’ ability to serve users exactly what they want. However, updates such as AI-generated videos and lowered seed list requirements show promise for the future of B2B advertising on Google’s platform.
