The purpose of this blog is to share with you some examples of performance marketing techniques which are being used by the most successful retail advertisers worldwide. Perspectives we feel you can bring to bear with your agency clients here in Ireland.
Performance marketing is now a hugely powerful channel for retailers as it mitigates the risk and uncertainty associated with general advertising.
Performance marketing focuses squarely on helping you find your next customers profitably.
Clever technology, massive online audiences across various devices and the power of real time bidding – where you bid for the right to show somebody an ad based on their predicted likelihood to become a customer – have created a highly efficient form of advertising.
Below we show you examples from around the world of how retailers have successfully tapped new performance marketing techniques online to acquire new customers profitably.
Case Study: 1
Client Industry: Retail Grocery
Technique: Programmatic Behavioural Targeting
Background: Every advertising euro needs to reach the right shopper with the right product message whilst being sensitive to the ad viewer’s geographic location. To do this, brands run campaigns, with strict demographic and precise geographic criteria. Time inefficiencies associated with manual campaign set-ups had previously cost the advertiser dear from a speed to market and competitive point of view.
Solution: Targeting the right shoppers with the right creative helped this retail grocery client shift resources away from low-value campaign management tasks toward high impact creative and strategic work. This had an attendant benefit, enabling faster, more effective campaign deployment across a range of brands.
Results: The FMCG giant reduced campaign management costs by 66%, and improved return on investment by 18% overall. These cost savings have been used to fund new innovations.
Further Reading: http://www.dataxu.com/wp-content/uploads/2013/02/6_CPG.pdf
Case Study: 2
Client Industry: FMCG (Birds Eye)
Technique: Programmatic Behavioural Targeting
Background: Pinnacle Foods Birds Eye Voila! a line of frozen skillet meals that can be prepared in minutes. Birds Eye’s tasked their agency to deliver on specific awareness, engagement, and—most important—trial goals.
Solution: The client used a real time bidded platform to buy media efficiently and drive ROI.
Results:
- 18% increase in purchase consideration for frequent frozen food consumers
- Achieved Birds Eye Voila! incremental ROI of $3.09: $1.00
- Drove a short-term sales impact for Birds Eye Voila! of $1M
- Reduced the attention share given to key competitors
- Exceeded cost per click (CPC) goals; 70% more efficient CPC for coupon downloads
Further Reading:
http://rocketfuel.com/resources/case-study/cooking-up-31-ROI-birds-eye
Retargeting best practices for retailers: http://bit.ly/1aBIPvy
