In our first all-virtual seminar, The Future of Performance, we explored some of the most exciting opportunities and advancements that our Performance Marketing Team have been working on throughout 2020.
In today’s climate, finding ways to mitigate risk is crucial for business success. As digital marketing specialists, we’ve been focused on how brands can effectively market themselves in times of crisis and stay ahead in a rapidly changing landscape.
We at NMPi by Incubeta strongly believe in the value of performance models and have continued to push the boundaries of what is possible. True performance marketing, in particular, has never been more relevant, being such a risk-averse model. Our all-virtual seminar covered the advancements that we’ve made in this model – including CSS, Creative and Amazon – and how they can support you as you power up your Q4 strategies.
Online commerce has become a real lifeline for retailers and this is only set to increase over time. If you’re a retailer especially, your performance is directly influenced by the quality of your feed. According to ChannelAdvisor, 42% of consumers will be shopping more digitally in the future: more shoppers means more brands wanting to meet demand, which means that your online marketing needs to be airtight.
Feeds and Feed Management have been a core part of our approach to all kinds of advertising, and our internal experts have covered the topic in-depth in pieces like “Taking Feed Management to the Next Level”. In short, however, the most important areas to focus on are ensuring consistency, improving the quality, and applying regular governance. If you’re looking to take your feeds to the next level, you can even begin to incorporate third party data such as weather, social triggers and even sports schedules.
Consumers are increasingly turning to Amazon for their online shopping needs and it’s easy to see why. The channel offers an ease of service, shipping, consistency and an overall great experience for the user. Compared to Google, the intent to buy is much much higher here; even if the user is only doing product research. Considering its relationship with the consumer, it’s no wonder that we see it as the Missing Piece of the Consumer Journey.
For retailers, the advertising offering has strong performance and ROI, a huge audience to take advantage of, and an active user base. As we ramp up to Q4 and the Christmas shopping period, then, it’s time to start putting your strategy into place. Our data highlights that 30% of users on Amazon plan to make their Christmas gift purchases in November, while 50% of consumers of still undecided about presents after Black Friday, so the majority of sales are made in early December. To make the most of this channel, we recommend that you start showcasing your brand before Black Friday, and keep the momentum going all the way until the end of the year.
Unlike most performance channels, optimising to clicks isn’t an effective strategy for display. Expecting someone to see a display banner and click straight through to store to make a purchase when they’re in the middle of reading the news is like expecting someone to make a direct action after seeing an OOH ad. However, this doesn’t mean that display doesn’t contribute to performance.
To make display a truly successful performance channel, we have to shift our focus to being creative first. It’s the message that drives action, not the media selection. This lets you turn you optimisation approach away from clicks and towards engagement, and helps to unlock the power of smart media buying. Finally, it gives you the opportunity to really demonstrate your broader value to your business and marketing strategies. How do you get your strategy right? It’s actually pretty simple: just remember that if you want something from a customer, you have to offer them something in return.
Anna goes into more detail about creative and display as a performance channel in her slides which can be found here.
The value of paid social is hopefully fairly apparent, and it’s something we’ve discussed at length before (for example, in 5 Essential Steps for Maximising Facebook and Instagram Advertising). With 3.96 billion active monthly users, both your new and existing customers can be found on social, and lockdown has formed new, permanent habits with the way we use these channels.
Paid Social is often not considered to be a true performance channel, instead, there is a misconception that it is a branding-led channel. Since the wider social media user isn’t as in market as your average Amazon user, there is a belief that you can’t run performance-driven campaigns. While some platforms like TikTok are very much branding focused, Facebook and Instagram, in particular, are great performance channels to make the most of as you head into Q4.
To find out more about how you can use Paid Social in Q4, check out Jack’s slides on our Slideshare.
Supporting your Strategies
We have a wide range of audits and workshops available to support your Q4 strategies and performance campaigns over the coming months. If you’d like to find out more, please get in touch with our team at [email protected].