We’ve all been on a smart device and going about our business –– work emails, paying bills, checking-in on friends, or going down an online rabbit hole (did you know that hummingbirds are the only birds that can fly backwards?) – and an ad appears for something you never knew you needed: an electronic gumball machine emblazoned with your favorite sports team.
Perhaps we’re getting a little too specific, but we’re now used to the world of eCommerce. Companies don’t need a physical space to capture your attention, and most successful ones have refined how they’re achieving high ROI with their advertising efforts.
Consider this: Shopify released a study in late 2021 showing 40 to 80 % of purchases are considered an impulse! The growth of online advertising and ecommerce push this trend further.
Here’s what successful eCommerce brands are using:
#1 Creative Is King. It’s a saying we know well and it remains true! Crafting a detailed creative strategy is key for any online campaign to succeed. Advertisers that remain agile and are willing to adapt to marketplace with relevant creative messaging are capturing the best return.
That starts with analyzing internal performance data. Developing creative most relevant to your largest demographic will swing impulse buys. The goal is to analyze what concepts are working or not and understanding why. Don’t repeat mistakes – learn and create new ideas. The creative cycle never ends, so what may have been a well-performing ad can fall off after a great 8-week run. Creative always wins.
#2 Social Strategy. To no surprise, social ecomm is a massive industry – more than $36.6 billion according to a new Ad age article. It’s estimated to reach $56 billion in 2023. As of this October, Facebook will no longer be able to host Live Shopping events. Instead, Meta is encouraging businesses to tag products in Reels (Instagram) for products in their Creator Marketplace. Now is the time to ensure that your ad campaigns are reaching users that are OUT of these siloed product views. TikTok will continue to shake up the industry, and with the company pulling back its live shopping feature in the UK – who knows what’s next in the social ecomm industry! Make sure you or your advertising partners are up to date on what’s changing.
#3 Use First Party Data. Whether you want to encourage repeat business (the best kind) with a CRM match, or create lookalike audiences based on your customer base, don’t let your data go unused. Whether you want to use it for online targeting capabilities or grow your organic social presence – it’s important to follow up with the people who already know you. The hard part is already out of the way. Let’s turn the lead into a sale!
Have questions about your ecommerce strategy? Get in touch with Brkthru to learn more about how we can tailor powerful digital campaigns based on the goals of your ecommerce business. Now, I have to buy a gumball machine.