Can ecommerce marketing campaigns really fail by something as mundane as failing to set the right objectives? Yes, they can, and sadly, they often do. Just as professional athletes cannot achieve a desired level of performance by simply starting to run and seeing how fast they can improve, ecommerce marketers need to unpack what drives success and apply their own build-backwards methodology.
Retail media has grown under a confluence of factors which make measurement very difficult. This is mainly because both the ad nd sale take place within walled gardens. But if poor performing campaigns can be identified quickly, and dollars reallocated, brands can generate significant incremental sales with the same working budget.
The Department of Justice is again suing Google for alleged antitrust practices, this time over its dominance in ad technology, with the DOJ making the case that its market dominance over both the buy and sell side of the equation effectively muscles out competitors.
Ad spend: should you really be thinking of cutting it in a recession (or near one)? Consider the contrarian route. Inflation is over 9% and consumer sentiment is falling for the first time since early 2020. Counterintuitively, these recessionary markers indicate it’s actually the perfect time for ecommerce companies to step up advertising.
A study sampling 5,000 DTC sellers in Q2 found ad spend on TikTok was up 53% from the previous quarter, as brands flock there based on lower costs relative to Facebook and Instagram, as well as the short-form video platform’s younger audience being their lifeblood for the future.
With heady revenue predictions for retail media north of $100 billion, it’s not surprising to see a surge of retailers opening advertising shops in attempts to capture share. But we’re still in the early days, with behemoths scooping up most of the brand spend. Here are six relationship and revenue-building strategies for retailers to consider.
TV has the reputation of being a highly untargeted, legacy media platform that is expensive, largely unmeasured and sometimes a vanity purchase by CMOs who want to see their brand’s name on the big screen. But TV can not only improve brand awareness, authority and recognition, but help lower CAC and improve ROAS.
With Amazon largely credited for the 115% spike in third quarter 2019 ecommerce ad spend, it’s no surprise that Feedvisor’s annual brand report shows 75% of brands selling on Amazon also advertise there. Feedvisor found 83% of brands advertising on Amazon saw a 4x return on ad spend, with half seeing 7x.
As ecommerce continues to grow rapidly for bicycle company, Dynacraft it became evident that it needed to enhance visibility to its customers, particularly in its children’s bicycle category, particularly ahead of the 2018 holiday season.