In 2022, CPG advertisers spent $8.5b—or an average of $773m monthly—within the industry. According to eMarketer, CPG accounts for over 12% of ad spend share. In North America alone, consumer trends are changing, and we see digitization on the rise regarding purchasing habits.
As the CPG and retail industry continues to grow, here are five things that marketers need to consider when planning their media activation strategy.
It’s still really important to be relevant in the market. Worldwide, we’re seeing supply chain issues across the board, and while that has a massive impact, it should not hinder your marketing activity. It’s vital to stay top of mind, focus on awareness-level metrics, and utilize a partner that can optimize toward the challenges that we’re all experiencing within the supply chain.
Consumers like frictionless experiences. Make it easier for consumers to find and purchase your products in the least amount of steps possible. Utilize custom formats such as shoppable units, quickly engage consumers, and create a virtual shopping experience or click to carts. Ease the path to purchase by monitoring stores in real time so users can be shown up-to-date and in-stock products to make digital content actionable.
Since regional footprint varies, you want to work with an agnostic partner that has access to data that allows you to maximize coverage but also have a wide reach. Different brick-and-mortar stores can attract different demographics, while still having similar product placement, allowing you to drive scale and reach across the board.
Repeat purchases are typically the norm as most CPG and retail items are essential for consumers versus a one-time purchase. For CPG products, you always want to be an extension of the home. These goods are constantly being purchased, so it’s important to drive consideration even with consumers that are loyal to your brand.
Ensure all of your media is attributable regardless of where the purchase is happening and while online sales are easier to track. Working with a partner that can track your offline sales is equally as crucial. You want to understand the full picture, inclusive of both online and offline sales. Ready to take your campaigns to the next level? Speak with a member of our team to learn more. For the latest industry trends and insights, check out our blog and sign up for our monthly newsletter.
CTV viewership has exploded. To take advantage of the channel’s surging audience, e-commerce and retail brands are making CTV a key part of their advertising strategy. CTV allows brands to apply an audience-first, data-driven approach to TV similar to other digital channels. However, as ad strategies continue to become more CTV-reliant, brands need greater clarity on performance and ROI. Our proprietary performance CTV platform, Flip, provides that clarity to e-commerce and retail advertisers.
Flip connects mobile location data with CTV ad impressions to help brands granularly understand campaign performance, attribution, and Return on Ad Spend (ROAS). Flip helps advertisers and agencies accurately and granularly measure CTV campaign effectiveness. The platform provides an easy-to-use dashboard that shows CTV buyers exactly which campaigns are working across which devices, publishers, demographics, and more – all in real time. Using proprietary software, Flip can tie ad impressions to app installs, cart amounts, and site visits. The platform can even match a CTV impression to an in-store visit when that device shows up in a physical store, uniquely tying digital impressions to physical actions. With its full-funnel attribution capabilities, Flip traces every CTV impression to a conversion and sheds light on ROAS as CTV investments grow.
“With Flip, we’re able to connect real-world sales events to CTV impressions to let retailers know, definitively, that someone was exposed to their CTV ad, and then visited their site or made a purchase. We’ve set our sights on elevating CTV to a fully accountable performance media channel — driving real-world results for our clients by allowing them to activate against their data or third-party data to maximize return on ad spend. Flip has answered the call for a new benchmark for measuring campaign success, even on platforms that don’t have a lot of transparent reporting, and we’re thrilled to extend it to e-commerce and retail brands.”
– Head of Activation at Agency Partner
Flip is the cornerstone of our full CTV/OTT offering, helping digital ad buyers optimize targeting, tracking, and campaign management across multiple platforms and devices. Now, e-commerce and retail clients can leverage and unlock real-time insights, measure the true impact of campaigns and optimize to drive results. With Flip, e-commerce and retail marketers can:
“As the industry aims to keep pace with consumer demand for personalized experiences in an economic environment where every dollar counts, measurement and performance have become critical metrics for retail advertisers. We’re ecstatic to extend Flip’s capabilities in the retail and e-commerce sector and remain committed to providing a holistic solution by which advertisers can unlock and optimize real-time insights, measure campaign effectiveness, and drive valuable results.”
– Matt Sotebeer, Chief Strategy Officer at Digital Remedy
To learn more about Flip, visit www.digitalremedy.com/flip or speak to one of our team members to book a demo and see the platform in action.
