This is the second in a three-part blog series on the 3 Global E-Commerce Tactics to Address for Success in 2023. Check out the first instalment on adapting to changing consumer behaviour, and part three on driving excellent digital shelf execution.
2022 was a year characterised by record inflation, leading consumers to shop smarter than ever. Plagued by economic uncertainty in the year ahead, consumers may get choosy. And as marketplace saturation grows, your slice of the e-commerce pie may become thinner and thinner.
But a plethora of ad types, targeting opportunities and optimization techniques make it easier to stand out among the crowd. What’s even more important to consumers? A smooth shopping experience from discovery to purchase.
Consumers’ Product Discovery Habits Are Multichannel
Marketplaces aren’t the only channel where consumers discover products. Every channel is now an opportunity for discovery and engagement, especially social media. Recent ChannelAdvisor survey data demonstrates social media plays an important role in consumers’ product awareness, even influencing 23% of shoppers to buy.
The best way to stand out, no matter where consumers choose to browse? Retail media, digital marketing’s hottest sector according to a November 2022 Forrester report.
Improve Visibility and Competitive Edge Wherever Your Customers Shop
To stand out in increasingly saturated channels, start by implementing advanced retail media campaigns that include:
- A variety of ad types, including sponsored display, sponsored products and sponsored brands
- Optimised content that features relevant target keywords and related phrases
- Targeting based on past performance data and consumer behaviour
- Strategic segmentation for various parts of your product catalogue
- Automation for greater efficiency that produces the highest return on ad spend (ROAS)
- Testing for constant iteration and improvement
You can also take advantage of retail media in more places than just Amazon. Implementing campaigns on channels like Walmart Connect and Target allow you to cast the widest net.
If you’re a brand advertiser, ChannelAdvisor’s integration with Criteo Retail Media API also gives you more choices for managing and optimizing retail media campaigns while expanding advertising to reach high-intent shoppers in new cookie-free channels.
ChannelAdvisor Puts Your Brand Front and Center
Though retail media is taking off in 2023, it’s anything but new to the experts at ChannelAdvisor. Our Managed Services teams have helped brands and retailers like you develop advertising strategies that not only stand out, but drive lasting growth.
And by implementing our Shoppable Media solutions, you can shorten consumers’ path to purchase, no matter where they interact with your ads. That way, you can give online shoppers seamless access to where to buy your products no matter where they encounter your brand.
Download the full eBook, 3 Global E-Commerce Tactics to Address for Success in 2023, for more tips and tactics as you navigate the year ahead.