Tap Into Unbelievable Conversion rates for Retail Brands With CTV Advertising
See unimaginable growth in your revenues and conversion rates with performance CTV advertising strategies in a competitive landscape.
Consumers have started buying journeys across multiple channels in today’s ever-changing retail market. Consumers have started buying journeys across multiple channels in today’s ever-changing retail market. Retailers are adjusting their advertising techniques to keep up with shifting consumer tastes. Connected TV (CTV) is one channel that is making a major impact. It acts as a link between traditional TV’s broad reach and the precise nature of digital marketing.
Unleashing The True Power of CTV
Retailers are recognizing the power of CTV to engage consumers and achieve concrete outcomes like site visits, conversions, and mobile app usage. This change is more than just a reaction to economic issues; it is a strategic decision to remain competitive in the retail business. According to a recent survey, 95% of retail marketers consider CTV to be a vital component of their marketing plan for the future year.
Currently, 81% of stores are displaying CTV commercials, with another 82% employing linear ads. However, it is not enough to simply be present on CTV; it is also necessary to use the channel creatively in order to respond to the changing consumer landscape. One popular method is geotargeting, which allows merchants to deliver targeted advertisements to specified locations. Retailers can easily customize their creative to different regions, promoting regionally relevant merchandise or advertising local retail outlets.
CTV is also extremely cost-effective. The starting costs are minimal, making it accessible to midsize brands, including those with no experience in linear TV. Additionally, as traditional TV audiences shrink, larger brands and retailers that advertise on traditional television are complementing their strategies with CTV. Leveraging CTV enables retailers to acquire first-party data, boost their direct-to-consumer (DTC) business, or target and retarget audiences based on CRM data and intent signals. Social media ads, mobile ads, pay-per-click ads, and display ads are leading the way in engaging omnichannel retail customers, with 82% finding social media ads “very effective.”
The Declining Prowess of Linear TV
Traditional television advertising, as we’ve seen for years, is still around, but it’s encountering some challenges. Because we can’t precisely track how viewers interact with these TV advertisements, assessing whether they are effective is difficult.
In this scenario, connected television (CTV) comes to the rescue. It solves the problem by allowing us to accurately measure the impact of our advertising efforts.
CTV is gaining viewers as streaming services such as Netflix and others become more popular than traditional cable and broadcast TV. This change opens up the possibility to quantify the effectiveness of our advertisements in today’s economic climate.
Retailer Success Story in CTV Advertising
Tuckernuck, a diverse lifestyle retail brand that offers classic and one-of-a-kind products and gifts, had to deal with a major problem. They required a scalable advertising platform to help them out all through the busy holiday season. To tackle this, they decided to harness the power of Performance TV.
The Primary Objective
Tuckernuck’s primary goal was simple: they wanted to raise their return on advertising spend (ROAS), improve conversion rates, and lower their cost per visit (CPV). Being in the apparel industry, they understood the importance of standing out during the holiday rush when consumers are bombarded with advertising messages. Performance TV emerged as the perfect solution. By running multiple simultaneous connected TV (CTV) campaigns with a special focus on video ads, Tuckernuck could drive tangible results.
The Winning Strategy
Collaborating closely with the experts of Performance TV, Tuckernuck came up with a comprehensive advertising strategy. They began by boosting their Q4 CTV budget by 32%. They kept their existing Performance TV campaigns running throughout the early part of the quarter, expanding their audience and enhancing engagement. This paved the way for their success as they entered the peak holiday season. In November, their campaign strategy pivoted to a holiday-centric approach.
Leading up to Black Friday and Cyber Monday, Tuckernuck leveraged Performance TV’s precision audience building. They used cloud-based tools to ensure their ads reached specific groups of holiday and retail-focused shoppers. These targeted segments included online shoppers, luxury buyers, winter fashion enthusiasts, Black Friday, and Cyber Monday shoppers.
For retargeting, Tuckernuck tapped into first-party data to reach consumers who were already familiar with their brand. Using audience segmentation tools, they targeted viewers who had visited their website in the last 30 days and had viewed two or more pages but hadn’t made a purchase.
Key to their success was their seasonal ad creative. To resonate with their ideal customers, Tuckernuck crafted tailored messages for their target audiences. Their video ads featured holiday imagery, showcasing people in festive attire participating in various winter celebrations. The ads also included seasonal promotions and discounts to surprise and delight their customers.
Also Read- Aim For 100% Revenue Growth for Your Healthcare Brand with CTV
The Outcomes
Tuckernuck recognized the true power of performance CTV advertising. With Performance TV, they could efficiently adjust audience segments and ad creatives as needed, without slowing down their campaign progress.
The results were outstanding. Their Q4 campaigns in 2022 achieved a remarkable 304% increase in conversion rate compared to the previous year, demonstrating the effectiveness of CTV video advertising. Tuckernuck also witnessed significant quarter-over-quarter growth, with a 56% increase in ROAS and a 26% reduction in the cost per visit from Q3 ’22 to Q4 ’22.
Accurate campaign tracking was made possible through Performance TV’s in-platform reporting and integration with Google Analytics. Tuckernuck saw the broader impact of its investment and acknowledged the positive influence it had on its overall marketing strategy.
Are You Geared Up for The CTV Revolution?
With Tuckernuck’s resounding success along with several other retail brands, it is more than evident that if your retail brand hasn’t delved into CTV advertising yet, this is the correct time to do so! Begin your CTV advertising journey by evaluating your current strategies and understanding how performance CTV can complement them. Start small and make adjustments on the fly- that’s the beauty of CTV advertising.
Still need help? Get in touch with our CTV experts at 9MediaOnline for a free consultation now!
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