Digital/Online Marketing is getting a more significant share of marketing budgets every year with rising internet usage. Parallelly, the eCommerce Apps and Websites are also evolving in terms of their look and feel, user experience, business reach, and pricing models.
Just a few years ago, people used to browse the eCommerce Sites casually, whether or not they are looking to buy a product. They may or may not purchase at that very moment. But these days, since almost everything is available or sold online, users have an intention to buy, they can go to multiple sites, compare and purchase. Click a few buttons, and a user will get many choices or products, brands that are selling them, and the platform on which it is available. Customers might not know how eCommerce platforms do that but eventually leave the website or App satisfied.
This stiff competition in the market is the reason for the shift in consumers' behavior. This very reason influences the way brands are reaching and marketing themselves.
A startup with a niche product would find it difficult to reach their intended customers and need to burn much money or wait for a longer time to convert prospects. Thankfully. Commerce advertising works just fine for small advertisers too.
Personalization with attractive, adjustable, customizable ad formats is the key to success.
- The website's homepage or the App screen knows what a customer likes or is most likely to buy. Having this intelligence, customers can place orders in a lesser amount of time. Fortunately, commerce advertising provides a direct path to customer segments, howsoever niche, thus making it easier for brands to generate ROI quickly. With the search results page, the category, and other screens also tuned to the customer preferences, they quickly find what they are looking for or a better alternative.
- The ad formats used by the eCommerce & other online platforms assimilate well with the consumers' pages & screens. With multiple ad formats that are far from intrusive, advertisers and marketers get to their audiences without being too pushy.
Thirdly, the most significant benefit that advertisers can get with commerce advertising is the valuable data that logged-in users bring along. These are deterministic datasets that give commerce platforms immense information about the user. Therefore, it is very critical that logged-in Users' data remains secured and, at the same time, accessible to advertisers.
This is how Kritter manages the Client's proprietary data.
All of these contribute to generating an extra revenue stream. With more advertisers comes more money. Additionally, eCommerce platforms can create more products for advertisers over time.
How all of these can be achieved?
From eCommerce Platform owner to Advertisers, both can do well by having a strong monetization strategy and freedom to customize their business approach. With the three-step plan that Kritter offers, one can quickly come in the market in no time -
Step 1. Information Gathering
Before getting started, it is good to collect some information, like -
- Distribution of sales in terms of category – What type of product the eCommerce Platform is selling.
- Geographic details – What are the vital locations at which sale is more.
- Audience details – If any user-level data is available, like historical purchase, e-mail, phone number, etc.
Ste 2. Media Planning
First, Campaign's objective, goal, or the KPI are decided based on the information received. Using Kritter's DMP, Advertiser can analyze the current market trends. Then check for the best-suited targeting and ad format.
When a Media Plan is in place, Advertiser can move toward the next step – collecting the assets like Creatives and User Data if it is available.
Step 3. Execution
Integration of Kritter Ad Trading Stack with eCommerce Website or the App is done via Tags, Scripts, or Pixels. The second integration is of a Third-Party DMP or with eCommerce Platform Owner's First Party data like Purchase History, Payment History, Location, Demographics, or users' interaction with App.
Campaign execution is done in phases –
- Phase-1: Advertisers can run branding campaigns based on time, impression, budget, and other targeting parameters. Analyze the result and then decide the feasibility of the Performance Campaign.
- Phase-2: If Advertiser decides on running a goal-oriented Campaign, Kritter helps in on-boarding First-Party Data or any Third-Party Data, segment them and make them available for targeting. This is useful in customer behavior based on targeting or in personalized marketing. Audience segment targeting can significantly increase the Advertiser's ROI.
When it comes to scaling up Reach & Revenue, an important step is introducing additional/multiple ad formats. In many cases, the standard Ad Formats and sizes do not fit or work well in Commerce Advertising because of the ever-changing, innovative design of sites/apps.
Kritter helps in detecting digital space for new & engaging ad formats. These can be -
- Sponsored Product Ads - Show sponsored brand ads in the search listing through keyword targeting
- Sponsored Brand Ads- Show custom ads of brands based on users' product searches
- Sponsored Display & Video Ads- Sponsored banner or video ads, shown on the search listing page
- Promoted Listing Ads - Elevated items in search results, driving increased awareness.
These are in addition to the Programmatic Ads, which are displayed after winning open RTB based auctions, conducted between various DSPs.
A Recent Use Case
Kritter helped an Indian eCommerce/Retail Giant in making the best use of their own users' data.
The objective was to serve personalized ads and show relevant offers to Users within their digital properties. The ultimate goal was Offline-To-Online unison.
Firstly, by using Kritter's On-Premise Solution, the Go-to-market Time was significantly reduced for them.
And by using various granular targeting options, they delivered precisely targeted ad content to their users. Also, Users' shopping and In-app experience were enhanced with personalized ad content using Display, Native, And Video Ads.
Kritter helped the Client in attributing the Conversions to the Online Campaigns using conversion touch-points and offer Coupon Codes.
Eventually, the Client successfully integrated and monetized their First-Party Data within a secured Cloud environment.