Leading Hidden AdWords Features Part 1: Household Income Tier
Google has released many iterations of their flagship product, providing additional advanced targeting options. With so many features, many can easily be overlooked including targeting features that are crucial for in-depth data analysis, testing and automating. We’ve decided to share some of our favorites with you, in our new AdWords Hidden Features series.
Targeting by Household Income Level
This feature allows you to target your ads based on the user’s household income and even apply positive or negative multipliers. The household income data used for this targeting capability is not based on user-specific data, such as cookies or pixels, but rather on average household income by zip code. Here’s how to set it up:
Access and Implementation:
- Select a campaign from your AdWords dashboard.
- Click on Settings>All Settings
- Under the Locations section click on Edit>Advanced Search
- Select Location Groups then choose the Demographics option from the Choose Location Group Type drop down.
- To enable household income targeting, you’ll need to first select the specific geographic location you’re interested in targeting.
- This feature does not apply any multiplier by default. You can focus your targeting further by applying positive or negative increments to the average household income data by selecting one of these options from the “Select household income tier” dropdown. You will have 6 options with 10% increments with the exception of the lower 50% bucketed into one tier.
- Click on the Add button to apply this advanced household income tiered targeting to your AdWords campaign.
That’s it, you’ve successfully added a household income tier to this campaign’s targeting. You can always view each campaign’s full targeting by selecting the campaign from your dashboard and clicking on Settings>All Settings.
We recommend running this feature without any increments for a test, then applying a multiplier based on campaign’s performance. You can do this by selecting your campaign and then clicking on Set Bid Adjustment.
This advanced targeting option is worth testing for certain verticals and KPIs, including:.
Financial Services – If your AdWords KPI involved credit approval (for credit card applications for example), targeting different household income tiers at the campaign level would be an excellent test. Top tier household incomes might indicate that these individuals have higher credit approval rates than the national average. Remember, this targeting option includes a bid multiplier option, so you can optimize your bids by removing under-performing tiers and boosting well performing tiers.
Ecommerce – If your AdWords KPI includes high-end products or services you should definitely run a similar test, with the assumption that higher household incomes have more expendable cash.
Bottom line: Don’t limit yourself to your comfortable repertoire of AdWords features and tools. To succeed in digital marketing you need to constantly push the limits and test. We’ll continue to share the hidden AdWords features that make our list, so stay tuned!