How do you approach the use of Price Extensions in your campaigns?

Price Extensions in Bing Ads are a great way to provide users with quick, valuable information about your products or services directly in your ads. They allow you to display specific prices for products or services, making your ads more compelling and potentially driving higher engagement and conversions.

Here's how you can approach the use of Price Extensions effectively in your campaigns:

1. Display Clear and Relevant Price Information
The primary goal of Price Extensions is to showcase pricing information that is relevant and appealing to your audience. Price Extensions allow you to present a breakdown of your offerings, whether you're selling a range of products, services, or packages.

How to Approach:
Focus on Best-Selling Products or Services: Use Price Extensions to highlight your most popular or best-selling items. This is especially helpful if you have multiple products or services, as users can easily compare options directly in your ad.

Include a Range of Prices: If your products or services come in different variants or pricing tiers (e.g., basic, premium, deluxe), you can display these variations in the Price Extensions to cater to different user preferences.

Highlight Discounts or Promotions: If your products or services are on sale, you can use Price Extensions to display the discounted price alongside the regular price. This creates urgency and attracts more clicks.

2. Ensure Price Information is Accurate and Up-to-Date
Accuracy in Price Extensions is crucial. Users rely on this information to make quick decisions, so you need to ensure that the prices shown in the ad match what is on your website or landing page.

How to Approach:
Regularly Update Prices: If your pricing changes or you run promotions (e.g., sales), make sure to update your Price Extensions to reflect those changes. Outdated prices can lead to confusion and frustration for users.

Ensure Consistency: The prices in your Price Extensions should match those on your landing pages. If there's a significant difference between the two, it can negatively impact user trust and conversion rates.

3. Tailor Price Extensions Based on User Intent
Price Extensions can be more effective if you tailor them to the specific intent and needs of your target audience. For example, if you're targeting users who are in the research phase, you might want to highlight affordable options. For users looking for premium offerings, highlight your higher-end products or services.

How to Approach:
Segment by Product Type: Create separate ad groups or campaigns that focus on specific products or services, then use Price Extensions to tailor the prices shown in the ad for each segment.

Use Location-Based Pricing: If you operate in multiple regions with different pricing models, use location targeting to show location-specific prices in your Price Extensions.

Adjust Based on User Behavior: If you know that certain types of users (e.g., returning customers, high-intent users) are more likely to convert, tailor your Price Extensions to show higher-priced products or services that may drive more revenue.

4. Use Price Extensions in Combination with Other Extensions
To maximize the effectiveness of your Price Extensions, combine them with other types of extensions, such as Sitelink Extensions and Callout Extensions. This can help provide additional value and increase the likelihood of user engagement.

How to Approach:
Sitelink Extensions: Pair Price Extensions with Sitelink Extensions to provide users with easy access to specific product pages, categories, or promotional offers. For example, a Price Extension might show the price for a product, while a Sitelink Extension directs users to a page with more detailed information or related products.

Callout Extensions: Use Callout Extensions to highlight unique selling points (e.g., "Free Shipping" or "30-Day Return Policy") alongside your price information to make your ad even more compelling.

Promotion Extensions: If you have a limited-time offer or seasonal discount, use Promotion Extensions along with Price Extensions to create a sense of urgency and entice users to click through.

5. A/B Test Different Price Ranges and Messaging
Like other types of ad extensions, Price Extensions can benefit from A/B testing. Testing various price points, messaging, and combinations of products or services in your Price Extensions can help you find the best-performing options.

How to Approach:
Test Price Variations: If you offer multiple price tiers, test different ranges of prices (e.g., low, mid-range, high) to see which resonates most with your audience.

Test Ad Copy with Price Information: Experiment with different messaging in your ad copy that complements the price information. For example, try variations like "Best Value Starting at $X" vs. "Affordable Options for Every Budget."

Measure Performance: Use conversion tracking and metrics like CTR, conversion rate, and ROAS to determine which price points and product offerings perform best. Optimize based on the data.

6. Ensure Price Extensions Are Mobile-Friendly
Since Price Extensions are often more relevant to mobile users, it's important to ensure that the information is displayed correctly and is mobile-friendly. Mobile users tend to have shorter attention spans and may appreciate a clear, concise price listing.

How to Approach:
Focus on Simplicity: On mobile devices, it's essential to keep the Price Extensions simple and easy to read. Avoid showing long price ranges or excessive text. Instead, highlight just the core products or services.

Check Formatting: Ensure that the formatting of your Price Extensions looks good across devices, especially on smaller mobile screens. Make sure that the pricing is easy to read and that the user can quickly understand the offer.

7. Highlight Value, Not Just Price
In many cases, price alone might not be enough to convince users to click on your ad. Make sure to pair your Price Extensions with messaging that emphasizes the value they get at each price point.

How to Approach:
Show the Benefits: Use the description section of your Price Extensions to mention key features or benefits. For example, instead of just listing the price, you could include: "$29 – Includes Free Shipping and 24/7 Customer Support."

Focus on Value Propositions: Whether it's a discount, bundle, or special feature, make sure the price you're displaying reflects the value customers will receive. This makes your offering more attractive and can lead to better conversion rates.

8. Monitor and Optimize Based on Performance
Constantly monitor the performance of your Price Extensions and make adjustments as needed to improve results. Keep track of key metrics like CTR, conversion rate, CPC, and ROAS.

How to Approach:
Use Reports and Analytics: Bing Ads provides detailed reports on how each extension type is performing. Use these reports to evaluate the effectiveness of your Price Extensions.

Optimize for Better Results: If a certain price point or offer is performing better than others, consider shifting more of your budget toward those products or services. You can also optimize your bidding strategy to prioritize higher-performing extensions.

Refine Ad Scheduling: If you notice that certain times of day or days of the week are yielding better results, adjust your ad scheduling to show Price Extensions when your audience is most likely to convert.

Conclusion
Price Extensions are a powerful tool for providing users with immediate pricing information and encouraging them to take action, especially when you have multiple products or services to offer. By showcasing clear, accurate prices and aligning your Price Extensions with user intent, you can improve your ads' visibility and drive more conversions.

When combined with other ad extensions, tested regularly for optimization, and continuously monitored for performance, Price Extensions can become a valuable asset in your Bing Ads campaigns.