As the COVID-19 outbreak continues and staying at home becomes the new normal, businesses are shifting strategies to drive online revenue to compensate for the decrease in foot traffic. On top of that, many retailers and other businesses have had to temporarily close their brick-and-mortar locations altogether. In these uncertain times, it is essential that businesses have the ability to effectively reach consumers in their homes in order to generate online revenue. As part of Simpli.fi’s ongoing efforts to support our advertisers and partners, we want to take a look at how we can help businesses drive and measure online sales during a time of reduced foot traffic.
Reaching Homebound Consumers with Addressable Programmatic
Since so many consumers are now homebound and spending large amounts of time consuming online media, that is where advertisers must reach them: at home across all devices and on multiple screens—including the big screen in the living room. In fact, video streaming to TVs soared 85% in the U.S. in the first three weeks of March (Nielsen). And even before COVID-19, second-screening has long been the standard. After all, 88% of the U.S. population already use a computer or mobile device to browse online while watching either digital video or traditional TV content (Nielsen).
In this new paradigm, we believe that Addressable Programmatic is a valuable resource to help businesses reach their consumers at the household-level. Advertisers can utilize Addressable Geo-Fencing to drive awareness of their online businesses by targeting consumers in over 126 million U.S. households with mobile, video, and/or OTT/CTV ads. OTT/CTV advertising in particular is a great way to leverage the time consumers are spending at home viewing streaming media content.
For example, a furniture retailer that has temporarily closed its brick-and-mortar stores can target relevant households with ads relating to sales running on the website, loyalty promotions, brand awareness, and more. In this unfortunate situation when foot traffic is no longer driving business, this is an alternative way to keep revenue coming in.
We also recognize that today it’s more important than ever to make each ad count by making sure it reaches the right audience. To that end, our Addressable Audience Curation (AAC) tool adds an additional level of accuracy and granularity to advertisers’ household addressable targeting efforts. With AAC, advertisers can easily curate addressable audiences in real-time based on location and demographic data. Advertisers can then build and activate a custom household-level audience in real-time using more than 500 offline data variables (including demographic, economic, and political variables) for inclusion or exclusion via full Boolean capabilities.
Track Online Conversions to Measure Impact and ROI
As businesses continue to shift their focus to generating revenue through online sales, being able to determine what impact an ad campaign did or did not have is crucial. With Simpli.fi, advertisers have the ability to measure online conversions from OTT/CTV ads shown on televisions and other streaming devices. Advertisers can attribute an ROI to their OTT/CTV campaigns by tracking online conversions, such as visiting an advertiser’s website, completing a form-fill, adding a product to a shopping cart, purchasing a product, and more.
Driving and Measuring Online Sales in Practice
Let’s see how all of this comes together on the ground. Consider a national clothing chain with multiple locations across the U.S. With so many consumers remaining homebound during this time, they will need to reach these consumers with ads regarding things like online sales and promotions, delivery options, store hours, and more. Using Simpli.fi’s AAC tool, the chain can curate an audience of households based on variables like: age of residents in the household, number of children, number of adults, discretionary spend, and those who live within postal codes near their various stores.
Once the audience is curated, the advertiser can then utilize Addressable Geo-Fencing to serve mobile, video, and/or OTT/CTV ads to each household across all devices (and for OTT/CTV advertising, across both the large and small screens). This ensures that every campaign is as effective as possible, and that they are reaching the right person at the right time with a relevant message—thereby minimizing wasted impressions and maximizing ROI.
And by utilizing Simpli.fi’s online conversion attribution capability, the advertiser can measure online conversions from every OTT/CTV ad and attribute an ROI to each OTT/CTV campaign.
Helping you drive and measure online sales is one of the key ways we are supporting our advertisers and partners at this time. If you have any questions, concerns, or want to begin implementing one of the above solutions, please contact us at firstname.lastname@example.org. Stay well.