Google Adwords announces Account Labels for those of you who love to organize, group, and filter data to make it easily searchable and visible across a wide spectrum of custom categories. Google is always working to give you a more comprehensive list of advertising tools to choose from and these account labels are actually a really great feature.
Check out this great demonstration of AdWords account labels from their blog:
"The diagram below illustrates how you can use labels to gauge the performance of custom categories across your account. In this example, you've applied two labels, "Favorite" and "Brand" to different elements in your account. It's important to know that labels aren't inherited down throughout the campaign. This means that if you apply a label to a campaign, the label only applies to that campaign, not the ad groups and keywords that are within that campaign. If you want a label to apply to an ad group or individual keyword as well, you'll need to specifically apply the label to each."
There's so much that you can do with these labels and they can really bring a lot of utility to your marketing efforts. Remember, the easier you make it to find out specifications and details about your products or services, the more likely consumers are to choose you over your competitors. Explore the options with this new capability and integrate it into what you're already doing.
AdWords does a great job with the training and they make it easy to get your complex questions answered. Take advantage of what they have to offer, you know your competitors will!