The consumer journey is truly one of the driving forces of the e-commerce industry. How consumers shop, where they shop and when they shop creates ripple effects across the entire landscape, leading to new innovations, new technology and new channels across countries.
Survey data shows that the majority (76%) of global consumers regularly use multiple marketplaces for browsing, shopping or buying. But that’s not the only place they frequent. The number of digital touchpoints is on the rise too, as a whopping 82% of consumers visit more than two websites on their buying journey before making a purchase.
How can you stand out as consumers’ shopping footprint continues to expand? Through retail media, the rising star among advertising channels.
In our recent webinar, How Brands Can Boost Product Visibility and Sales in 2023 & Beyond, we take an in-depth look at retail media’s impact thus far and the four elements of making your program successful.
The 4 Elements of Retail Media Success
1. Don’t neglect your product content.
We know you’ve heard it over and over — but your product content is truly the foundation of every campaign. That’s because great content influences every performance metric, from showing up in search results to increasing conversion to strengthening ad relevancy. Product content best practices encourage you to:
- Provide six or more clear, high-quality images
- Use at least 80 characters in titles with product-identifying terms
- Write with detail, proactively answering questions shoppers might have
- Improve “skimmability” with concise, catchy bullets that simplify and describe the product
2. Refine targeting on product detail pages (PDPs) with Sponsored Products.
On Amazon, Sponsored Products are a great way to defend your brand against competing pages. They provide optimal product page coverage by:
- Targeting your own Amazon standard identification numbers (ASINs) to eliminate competitor real estate
- Providing a boost with high impression placement to increase conversion from other paid sources like Sponsored Brands or Sponsored Display
Additionally, you can update the product page bid modifier to be more aggressive on your product page placements.
Bonus: Don’t forget other Amazon ad types. Use Sponsored Display Ads to target competitors with placements right below the Buy Box. Or, use Sponsored Brand Video to welcome shoppers and show off your most engaging digital content.
3. Clean up your account structure to enable automation.
Not all campaigns are the same. But generally, a well-planned account structure provides the ability to know exactly where to take action when changes occur or where to add more budget. Structuring your account based on your goals, intent and performance allows for better budget allocation, strategic bidding and efficient automation.
4. Automate your ad management.
If you want to effectively operate at scale, automation is absolutely essential. Without constant monitoring, automation allows you to:
- Manage ads based on filter criteria you set (e.g., selling performance, new products, clearance products)
- Pause ads for products that no longer meet defined criteria
- Add or unpause products in an ad group as they meet defined criteria
- Activate product and sales data from all your marketplace listings
As retail media takes off and new ad formats increasingly cover the full depth of the sales funnel, improving your ad program is a win-win for e-commerce success in 2023. If you’re not already doing these things or you need guidance implementing retail media ads that convert, ChannelAdvisor’s Managed Services team can help. Through our longstanding relationship with Amazon partnership and our extensive experience in the market, our experts can show you what works.
Watch the full webinar, How Brands Can Boost Product Visibility and Sales in 2023 & Beyond, for visual examples, best practices and a deeper look at retail media’s tremendous growth.