Retail goods are some of the easiest to research, shop for, and buy online. Retailers have turned to the internet to connect with consumers with the recent IAB Media Owner Sales Techniques (MOST) study reporting that online retailers are the most advanced in the programmatic market. UK retailers alone spent more than £2 billion on digital advertising in 2014 which is part of a 63% increase in UK retail digital ad spend over the past five years.
The majority of digital ad spend has historically been focused on direct response advertising, the MOST study shows that online advertising has evolved into a complex ecosystem where inventory is traded across platforms on different devices using different techniques. By focusing solely on direct response campaigns, retailers are missing vital opportunities to reach new customers in the most relevant and bespoke ways.
Retail marketers can now target consumers at every stage of the funnel from upper funnel branding and prospecting campaigns pre-site visit, to retargeting and reactivation tactics post-site visit. In our whitepaper we follow the consumer journey and discuss not just the tactics and technologies available to retailers at each stage of the funnel but also the best metrics and methods with which to evaluate the performance of these tactics.
Online advertising technology has evolved extensively since the pop-up ads of the 90’s and the way retailers advertise online needs to keep pace. Ads that dynamically change based on who is seeing them, optimising campaigns in real-time to find your perfect, perfectly tailored tactics for each stage of the consumer journey – these are all realities of the online advertising world, realities which retailers can take advantage of right now.
Retail marketers can find out how to assess the performance of their online digital advertising at each stage of the sales funnel in our new whitepaper: Real-Time Retailing Best Practices.
Amit Kotecha (@)
Head of Marketing, EMEA
You can get your free copy of the Real-Time Retailing Best Practices whitepaper here.