Q Thoughts

ownerIQ's staff (aka – "The Q") shares our insights and opinions on how marketers can more effectively impact today's shopper along the digital path to purchase. "The Q and A" provides honest and practical answers to the questions and challenges facing digital advertisers in the areas of second-party data, programmatic buying, shopper marketing, co-operative marketing, attribution, and emerging media.

Achieve Strategic Ubiquity with Your Advertising Tactics and Second-Party Data

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E-commerce is a tricky thing. On the one hand, it’s an easy and efficient way to drive sales; your website does the majority of the work for you, attracting browsers from all walks of life, at any hour, all over the world! Several clicks later – and boom, your customer completes a purchase. On the other hand, however, your e-commerce initiative is but a single vehicle used to entice in-market shoppers.

And it can be needy – requiring the help of retargeting, for example, to garner the attention of runaway browsers. All the necessary given that 50% of consumers that visit your brand’s site will buy a product in the same category in 30 days, according to Forrester research.

There are a myriad of channels out there to drive the sales of your products. Everyone today is online; and shopping activity can take place anywhere – both online and offline. In other words, your e-commerce channel is great, but in order to get the attention of today’s omnipresent shoppers, you have to be everywhere, at every touch point of your customer’s journey.

But you’re only one brand, right? So what’s the best path to strategic ubiquity, or being at the right place, at the right time – all the time? This is another difficult question – but we’ll do our best to answer it without selling you on anything radically new. You’re inundated with way too many choices and promises already.

Instead, let’s take a look at what you already have in your advertising and marketing toolkit, and what you’re already doing, in hopes of selecting a quick and easy trajectory to success.

  • Your website audience – If you have a website, you also have a website audience that’s accessible in the form of data. Simple as that. This valuable data reveals the truly interested shippers that likely found your site for some very specific reason. This reason matters – a lot. But this data is your own, and it’s your prerogative to hold it near and dear. Another option is to use it to your advantage…
  • Your retargeting pool and strategy – You’re not risking an underutilized website, so you’re employing a variety of retargeting tactics to bring back around those that left your site. If you’re taking recency into account, you’re of the mindset that the opportunity to convert those that left diminishes quickly following a certain period of time (some say at most 72 hours). So if you’re retargeting within that 72-hour range, you’re doing the right thing – or so you’d think. Thing is, employing a recency strategy works, but only to a small percentage…

Consider this: What’s happening with the remainder of your impressions, those still lingering around well past the 72 or so hour mark? What’s happening with the shoppers ready to convert in a few days?

Valuable and in-market shoppers are still out there, and you’re choosing to let them wander around and find your competitor instead. By placing all of your eggs in the bottom of the funnel basket, targeting only those immediate converters, you’re actually limiting your strategy and missing out on TONS of active buyers. It’s like finding a first-party data goldmine, and then making the choice to utilize only a handful of that data. Not the best idea.

But back to using what you already have to your advantage, versus your determinant. Here’s what we know you have: your website, your first-party data, and you’re committed to some form of retargeting. And here’s what we bet you already know as well (you’re savvy – plus you read our blogs, wink): According to research, 90% of all sales happen offline at retail. Now, imagine sharing your website’s first-party data with your retailers to help drive both your e-commerce initiatives as well as sell-through of your products at retail. Oh, and picture having access to your retailers’ first-party data too, considerably opening up your retargeting pool to more of the right in-market shoppers.

This, my readers, is called second-party data, and it’s what can help you use all the great things you already have going on in your advertising and marketing strategies to drive full-funnel outcomes.

Ready to get started?

Categories:Posts from 2016


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