Marketers can convert audiences throughout each stage of the purchasing journey if they would effectively address the challenges of these stages. As marketers look for results across various channels, ad budgets have become fragmented. From paid display and social media marketing to content and SEO (search engine optimization), marketers look to spend their money on the most effective channels.
This was further underscored in a Criteo report ‘State of Ad Tech 2019’.
Key Findings From The Report Include:
The Top 10 Channels For Marketers: Marketers are looking at the most popular ad tactics in 2018 such as social media marketing, paid display advertising and email marketing for planning for 2019.
Conversion Metrics Differ Across Companies: Marketers have a lot of different ways of defining what makes effective conversion. New revenue (35%), new customer rate (33%), and cost per action (30%) proved to be most popular, but there is clearly more than one way to measure conversion.
Data Availability & Quality Represent Key Challenges In Conversion: Nearly half (40%) of marketers struggle to find data on the online/offline shopper connection. This negatively impacts brand conversion given the prevalence of omnishopping. In addition, fragmented data makes it difficult for marketers to gain a true understanding of customers and to optimize future campaigns.
Re-engagement Across Web & App Grows In Importance: Re-engagement is a critical part of the consumer purchase journey, particularly as the impact of brand loyalty increases. The report revealed that existing retailer customers spend more on average than new shoppers (51%) and shopping app customers have high loyalty tendencies (41%). Compelling discounts, personalization, innovative ad formats and engaging designs were reported to be three of the most successful tactics for re-engagement campaigns.
“Our findings show that marketers have learned valuable lessons when it comes to addressing customers during different stages of the purchasing lifecycle while navigating challenges like multiple channels, and quality and relevance of data. These themes will assume even higher significance in 2019 when marketers redistribute their budgets across channels,” said Michele Iozzo, Managing Director Middle East & Africa at Criteo explaining that marketers will also need to consider strategies such as ad placements, compelling promotions and personalization to achieve successful conversions.
Criteo’s report ‘State of Ad Tech 2019’ surveyed 901 direct response marketers in partnership with Euromonitor International, to better understand the challenges of converting customers in today’s complex digital ecosystem.