At last week’s iMedia Brand Summit, HookLogic’s VP of Search Media, Steve Elson, enlightened the crowd during a spotlight session entitled, “Getting Closer to the Shopper.” During this presentation, Steve led a highly-engaged audience full of brand marketers to discover ways that they can deliver targeted media to qualified customers at the most influential time in the purchase cycle – the Moment of Truth. Key learnings from the presentation include:
- In the near future, the web will further influence retail sales both online and offline. Forrester Research predicts that 44% of total retail sales will be impacted by the web in 2016 (Forecast: US Cross-Channel Retail, 2011-2016).
- Retailer websites are the leading research source for purchase decisions across nearly all product categories, even if consumers end up buying in stores. Brands should increase exposure on retail sites to become bigger influencers in the purchase-making journey, regardless of where the conversions happen.
- Many brand advertising budgets are spent on impressions and audience buying rather than reaching the real thing – shoppers. If brands and retailers meet in the middle, they can serve shoppers with the most relevant ads, at the most opportune time.
- A new, real-time CPC marketplace, known as the Retail Search Exchange (RSX), puts this ‘meet in the middle’ concept into practice by offering paid search opportunities on top retail websites. Brands in the RSX place bids to seamlessly influence shoppers with relevant product information at the Moment of Truth – while their minds are open and wallets are out.
- The RSX represents a shift in key ad performance measures, causing brands to stray away from Reach and CTR and instead work towards increasing more relevant measures, such as Sales, ROAS, and Share of Pageviews.
- It’s very simple for a brand to use the RSX to run campaigns. All the brand has to do is log-in to the user interface, add budget, and place SKU-level bids. The product then gets featured in relevant site searches and category listings across a network of retailers that carry its products – voilà!