Use real-world location intelligence to identify your customers’ interests and buying habits, improve retail advertising ROI, and deliver ads to consumers likely to purchase your products.
Improve the ROI of Retail Advertising
Increase the click-through rate, foot traffic, and sales of your digital advertising campaigns.
Gravy Analytics specializes in using location data to help retail companies improve their ad campaigns through targeted advertising audiences, foot traffic attribution, and competitive intelligence services.
What is Retail Advertising?
Retail advertising is critical to the long-term success of a retail enterprise, driving brand awareness and influencing buying decisions to drive sales. Increase the click-through rate, foot traffic, and sales of your digital advertising campaigns
Gravy helps retail companies deliver the right ads to the right consumers at the right time. Target current customers or lookalike audiences Retail advertising is how brands connect with customers, online and offline, to drive awareness of – and interest in – their products. The goal of advertising is to drive traffic to products in stores and through eCommerce, influencing audiences and improving sales.
To advertise effectively, a retailer must send the right message, to the right individual, at the right moment, on the right channel. But with all of these variables, how can a brand optimize their retail advertising?
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Challenges Of Retail Advertising
Advertising is a critical part of retail sales, ensuring that the brand is promoted to individuals who make purchasing decisions. However, retail advertisers face a number of challenges today, including:
Today’s consumers can interact with a brand a number of different ways: in a physical retail location, on their laptop, smartphone, or through other types of media. This is a challenge to retail advertising, as a retailer must determine the best messaging to use to reach their audience, but also decide where that message would be most effective.
Customers expect a brand to present a unified experience across all channels, recognizing them as individuals, and acknowledging the history of their interactions with a brand. This complicates retail advertising, introducing elements of strategic personalization rather than creating a message that is intended to be universally appealing.
Omnichannel also requires consistent messaging across all channels. Unified messaging helps to streamline the customer experience and reinforce branding, strengthening the bond and helping to promote omnichannel experiences.
Online to offline attribution
With the rise of eCommerce, retailers began to realize that activities in one channel could influence actions in another. An online advertisement could influence foot traffic to a brick-and-mortar store, while a consumer might see a product in a store and take to the internet to conduct further research. Even developments like BOPIS (buy online, pick up in store) cross channels, making attribution extremely difficult to track.
The attribution issue further complicates retail advertising. How can one measure the ROI of an advertising campaign when actions cross multiple channels? Without accurate attribution, a retailer is unable to measure the effectiveness of campaigns and use it to make good decisions about retail advertising in the future.
The availability of information about products is both an advantage and a challenge to retail advertising. On the plus side, there are a number of ways for retailers to provide data that can influence buying decisions and improve their own sales. But, on the other hand, it is easier than ever for consumers to compare different brands, and to access a diverse selection of alternative products. The accessibility of information about a variety of alternative products, and their availability in a global marketplace, expands the competitive field and presents a substantial challenge to retailers.
How To Improve Retail Advertising
The changing marketplace and sophistication of consumers has created a number of challenges for retail advertising – but it has created significant opportunities as well. Armed with the right kind of information, and analytical tools, a retailer can improve retail advertising through:
Audience targeting is one of the primary benefits of data analytics. The most basic level separates an audience based on key demographic indicators – using one characteristic to predict an inclination to buy a certain product or brand. However, more sophisticated targeting includes real-world information: where people go, and why. This informs retailers about a consumer’s interests, habits, and values – creating new dimensions for accurate, relevant audience targeting.
Personalization has been shown to contribute to an increase in sales, with some companies reporting a 20% uplift due to personalized advertising campaigns. The more information a retailer has about a consumer, the more detailed and valuable a persona they can build. This persona can be used to create personalized ads, for more effective messaging and better ROI on retail advertising campaigns.
Location data in retail advertising
Location data is one type of information that can be used to improve retail advertising, making it more effective at reaching target audiences and driving sales. Knowing where customers choose to spend their time in the real-world provides a retailer with deterministic data – verifiable information that can be used to add a different dimension to the customer persona.
Gravy Analytics not only provides real-world location data, based on anonymized tracking of mobile devices, it also provides verified event attendance information: so that retailers can understand not only who their customers are, and where they go – but also why they are there. Knowing the events that a consumer chooses to attend can provide insight into a customer’s interests, and values – helping to improve personas in a number of ways.
Gravy specializes in using location data to help retail companies improve their ad campaigns through targeted advertising audiences, foot traffic attribution, and competitive intelligence services.
How Can Location Data Improve Retail Advertising?
Increase Store Visits and Sales with Digital Ads
Gravy’s data helps retail companies deliver the right ads to the right consumers at the right time. Target current customers or lookalike audiences with similar characteristics, such as demographics, or interests.
Improve Targeting to Increase Clicks
Increase clicks by delivering ads to consumers who are interested in your products. Gravy provides ready-to-use advertising audiences, using customer intelligence, that target retail consumers based on interests, brand affiliation, in-market buying behavior, or other characteristics.
Gravy’s retail audiences are built on cleansed, verified, and contextual data on the physical locations consumers visit and the events they attend.
Get up to 5X better digital advertising CTR with location-based retail audience targeting.
Improve Online to Offline Attribution
With location data, a retailer can measure the influence of online advertising to offline activity. When an online campaign is running, Gravy can measure changes to foot traffic, showing the difference in brick-and-mortar store visits before, during, and after a digital campaign.
Improve Retail Advertising with Real-World Intelligence
We help companies improve online retail advertising ROI through effective targeting and attribution methods. Use real-world location intelligence to identify your customers’ interests and buying habits, delivering ads to consumers you know are likely to purchase your products.
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