By Sam Maloney, Head of Agencies and Interim Commercial Director UK, Outbrain
The world of shopping is changing fast. And retail marketers are scratching their heads as they try to keep pace with this rate of change while also proving the ROI of their marketing investments.
At the same time, shoppers face a bewildering amount of choice over their purchase decisions, so retailers must deliver exceptional experiences at every touchpoint to ensure conversions and loyalty.
But a solution is at hand. With 2024 proving to be a bumper year for global interest in sports and current affairs, from the 2024 Summer Olympics to presidential elections in the US and around the world, open internet publishers are attracting large and engaged audiences. And with this comes unique opportunities for retail brands to connect more deeply with consumers and convert their heightened interest into successful outcomes.
In this shifting landscape, let’s uncover the innovative approaches that can help retailers harness these opportunities and redefine the shopping experience.
The Role of AI in Shaping Retail Outcomes
The integration of AI into marketing practices is no longer just about keeping up with trends – it’s about staying ahead of the curve. The Salesforce State of Marketing 2024 report highlights the urgency for marketers to refine their AI strategies, particularly emphasising its importance in crafting highly personalised and contextually relevant campaigns.
For the retail industry, where the battle for consumer loyalty is won through relevance and personalisation, the focus on AI refinement can make the difference between a campaign that converts and one that gets lost in the noise.
A study by Yahoo and IPG/Magna Global reveals the critical role of creatives in driving consumers’ awareness and intent, and AI-driven solutions address the need to effortlessly craft ad creatives, which are responsible for driving 56% of purchase intent. Unlocking the potential to transform browsing moments into tangible sales.
Retail marketers, who are managing considerable demands now have a suite of tools at their disposal to meet these challenges head-on with AI-driven solutions available to address, say, the need to effortlessly craft ad creatives.
The Open Internet: Your Gateway to High-Value Audiences
In an environment where every interaction counts, understanding and engaging correctly with diverse buyer types is crucial. We’ve identified the following four retail audiences that brands need to be aware of:
- The Loyal Shopper – They shop with their emotions and not their wallets. Already knowledgeable about brands and immersed in their loyalty programmes, they want to make sure that every purchase counts.
- Impulse Buyers – Ready to splash the cash, they make impulsive decisions after being swayed by attractive displays, limited-time offers, social media trends and compelling reviews.
- The Bargain Hunters – Always on the hunt for the best deals, discounts and value – wanting the best bang for their buck – they are looking to maximise their purchase power, rather than be loyal to a specific brand.
- Well Informed Shoppers – They consider long-term value and inform themselves on product features, specifications, and brand values before making a decision.
With such a varied range of shoppers, brands must tailor their approaches to captivate audiences accordingly, but most importantly ensure they are reaching consumers on the right platforms to drive maximum impact.
The Open Internet, favoured by consumers for 59% of their online time, offers retailers access to a wide array of buyer personas, from the impulsive to the methodical. Leveraging this incremental reach enables retailers to connect with high-value audiences poised for discovery and interaction, significantly increasing the chances of turning browsing into purchases.
Understanding Shoppers in a Privacy-First World
Navigating the privacy-conscious market of today requires a savvy approach to retail marketing, with first-party data taking centre stage. Retailers have access to a wealth of consumer insights through the first-party data provided by publishers, a resource made available by technology partners like Outbrain and code-on-page integrations on publishers’ sites.
This rich data allows for campaigns that are finely tuned to consumer preferences, ensuring relevance and compliance in a world where privacy is paramount.
Maximising Retail Impact with Content-Driven Strategies
Editorial web recommendations serve as a powerful tool for embedding retail offerings within engaging content that captures audience interest.
The success of Laura Geller Beauty‘s campaign with Outbrain, which achieved a 174% peak ROAS, highlights the effectiveness of this strategy. By aligning their product showcases with the content consumers are already consuming, the cosmetic brand sparked interest and encouraged action by leveraging the synergy between first-party data and editorial context to drive significant retail outcomes.
Change and disruption is the new normal, but by focusing on creating opportunities on the Open Internet retail marketers can not only keep up, but stay ahead of the curve by creating unique personalised content to already engaged audiences and transform shopping moments into real outcomes.
