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When we were using Bing Cashback we were seeing $35,000 in monthly sales. We are continuing to use the same feed and our sales have dropped to about $2,500. The only thing I can think of is that our images are not showing (we have been in contact with Bing about this but we have not found a resolution). Or is the Bing Shopping traffic really THAT much worse than when it was Cashback?
Traffic levels have been lower for a range of my clients. Keep in contact with your Bing Shopping account manager to check and recheck the validation of your feed to see if you can increase your products' findability. Responding to the same e-mail thread that you have been getting validation tips on previously helps your Bing Shopping account manager keep track of your account and recent changes to your feed.
We recently posted two blog posts on Bing Shopping, one regarding a 30 day before and after comparison of Cashback vs. Bing Shopping, and another one that lists some tips which you can use to improve your data feed.
Hope this helps.