Basket Building: Creating Promotional Synergy Across Product Categories
In today’s changing ecommerce marketplace, brand loyalty is on the decline. Over the past six months, customers are up to 75% more likely to have tried a new brand or product, and top consumer concerns are safety, quality, and availability. People are shopping online more than ever before, and the competition is fiercer than ever. At the same time, customers who purchase once are still the most likely to come back and buy again. Turning that click into a conversion is vital to retailers and brands staying in business and thriving in the new shopping climate. Let’s discuss products, and specifically, how to get more of your products into your customers’ shopping baskets.
Optimize Your Product Campaigns for Orders
When we think about optimizing campaigns for orders, the first place we tend to look at is average order value or AOV and how we can push those high-price products to be more visible. The second place we look at is remarketing, which involves building customer lists around past purchasers or cart abandoners.
There is a third place we can look to optimize, and that’s analyzing the order contents themselves. What people buy tells us what they’re likely to come back and buy again, and it also gives us insight into their broader needs. Some of these connections are obvious. People who buy whiteboards usually want dry erase markers. People who buy fancy tea likely need fancy mugs. And people who buy newspaper subscriptions…need a drink .
Creating diversity in that shopping basket increases the odds of a repeat purchase in one or more categories and is key to increasing your long-term value to your customers. A successful marketing strategy brings campaigns to market that increase those odds of cross-category purchasing. Nobody knows your customer better than you do, and Adlucent’s Deep Search™ technology uses the data from your order reports to see where categories are already supporting each other and where there’s an opportunity to build.
Build Diverse Campaigns Tailored to Your Customers
Product category information can be layered into your campaigns in a number of ways.
Text campaigns can highlight specific products in copy or ad extensions.
PLA titles and descriptions can be optimized to include compatible products.
Retargeting audiences can be better informed. If we know that people who buy apparel also tend to purchase footwear, we can build a remarketing list around visitors to the apparel pages and serve them footwear ads.
With Deep Search, Adlucent can even take the process one step further and set up custom conversions to directly manage revenue from the products you care about most.
Great products deserve great campaigns. Armed with product category knowledge, one of our office supply retailer clients is up over 50% in overall revenue year over year. Revenue volume in their key categories has nearly doubled, and so has their conversion rate. Best of all, they achieved these results with less than 10% additional ad spend.
We love shopping online because it’s easy and convenient, and advertising online should be the same way. If you’re interested in learning more about how our strategies can help you and your brand, or if you have questions about performance marketing, contact us for a consultation today.