With IRX 2015 just around the corner (25-26th March) at Birmingham NEC, we decided to look at the growth and performance of our clients over the year to see how they have performed by comparison since IRX 2014.
Across all marketing channels, comparing 38 key retailers, on average product clicks have increased in excess of 100% YoY with associated orders increasing by 43%.
For shopping search specifically, comparing 22 retailers YoY performance, the average uplifts per retailer are as follows:
- Product Clicks & Associated Revenue UP 60%
- Purchases UP 55%
- CoS% (Cost of Sale %) DOWN 19%
Google lead the way to popularising the concept of Product Level Advertising (PLA's) with their richer media Shopping Ads, however these Product Level Opportunities have existed across many online channels for many years...and the opportunities continue to grow.
Facebook has recently launched their Product Level offering where ads are not only product level but also targeted based on likes and interest...even more relevant to consumers!
Key measures to succeeding with Product Level Advertising (PLA's) are:
- To have good quality product data feeds, with titles and descriptions in line with what consumers are looking for, ensuring your products are found and relevant.
- To optimise performance at a product level, driving profitable performance for all products.
- To be everywhere your consumers are looking, utilising all the opportunities that the online channels present...these opportunities will continue to develop.
The stats above show that PRODUCT LEVEL ADVERTISING REALLY WORKS.
We are holding free data quality clinics at IRX this year, to get actionable feedback and tips from our data quality experts, register for our clinic today.
To learn more about he opportunities that exist in the world of Product Level Advertising, come and see us at the bar at IRX; and we can talk to you about how we can increase your product performance.