Commentary: Holiday Shopping Season is Back: How Retailers Can Take Advantage of Increased Consumer Spending with CTV Advertising
This article originally appeared in AIThority
By: Ryan Horn, Senior Vice President of Marketing at Simpli.fi
With many states welcoming back an increased amount of in-person shopping in addition to their upscaled e-commerce presence, the holiday shopping season is primed for another explosive year. Recent projections state that the holiday shopping season will increase from 2020, raking in upwards of $1.093 trillion dollars. With the projected upswing, partially due to an increased e-commerce offering, retailers stand to gain – as long as they can properly place their advertisements in front of their desired audience. By utilizing Addressable Programmatic and CTV advertising, both retailers with brick-and-mortar locations or a strong e-commerce presence, have the ability to share relevant messaging with their specific target market, resulting in increased profits for the holiday season.
LOCALIZING LARGE CAMPAIGNS FOR THE RIGHT AUDIENCE WITH ADDRESSABLE TARGETING
Addressable programmatic targeting gives advertisers the ability to serve ads to only specific households. Marketers can set up different campaigns based on hundreds of specific demographics ranging from income, education level, interests and more to ensure marketers are targeting the correct audience at the household level. Rather than utilizing broader, more generalized audience targeting strategies such as DMA targeting, advertisers should take into account the various ways one household differs from another, translating to less wasted impressions, higher ROI and, most importantly, a more personalized and useful ad experience. Utilizing these tools, advertisers can also connect across multiple devices within the household, including the big screen in the living room, which will help reinforce their messaging to visit a website or storefront.
REAL-TIME OPTIMIZATION TO DRIVE PERFORMANCE WITH CTV ADVERTISING
CTV provides advertisers with real-time reporting enabling them to optimize throughout the flight of their campaigns. Advertisers can adjust CTV advertising budgets as needed to maximize the success of their campaigns as the shopping season progresses in real-time, not just at the end of a flight. Additionally, it allows advertisers the opportunity to change their focal points as consumers get ready for their holiday shopping at different times and locations. The end result is maximized performance and minimum wasted impressions. For advertisers, this means increased cost savings and a significantly better ROI for their holiday campaigns.
ADVANCED ATTRIBUTION WITH CTV ADVERTISING
With many consumers returning to in-store shopping, tracking foot traffic once again becomes increasingly important. By understanding the true performance of a campaign through attribution metrics like store visits, advertisers can make informed decisions and quickly pivot campaign strategies if needed. With this information, they can shift budgets to various targeting criteria and/or locations that are performing well to eliminate wasted impressions and continue to drive performance. Even more, with CTV advertising, marketers can attribute online browser-based conversions for any size campaign when driving e-Commerce businesses, including website visits, form-fills, adding a product to a shopping cart, purchasing a product, and more. All these actions can be accounted for through the use of CTV which quickly assists marketers in determining the actual ROI of their campaigns.
With the holiday shopping season rapidly approaching, stores are expecting a surge in revenue now that shopping both in-person and online has gotten easier compared to last year. Retailers who employ CTV and Addressable Programmatic advertising stand to gain the most from the increased sales periods this year. During such a competitive time for retailers, marketers should take advantage of the advanced attribution capabilities that are made available for CTV and Addressable solutions so that they can track online and offline conversions, in turn helping them understand how their advertising is impacting the bottom line.
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