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Since mandatory quarantines and limited in-store shopping became a reality in early 2020, global ecommerce has grown at a rapid pace. Millions of first-time ecommerce customers have occurred, and as consumers have become accustomed to the ease of the e-commerce experience, it is likely that the new shopping habits they have embraced would stick.
This has generated an urgent need for marketers to prioritize ecommerce and adapt age-old promotion strategies in order to continue reaching shoppers and driving development. Here are a few items brands can keep in mind to keep up with the latest ecommerce regulations.
Create Effective Strategies
Advertisers must obey customers, which ensures that more money would be directed toward shoppable ad formats and ecommerce assets. However, it is important for marketers to consider the variations between digital advertisement platforms – and to always keep the customer experience in mind.
For instance, although both Amazon and alternative retailers allow marketers to target customers who are in the market for a purchase, the advertising strategies often differ. Amazon is primarily a search-based environment with a vast product catalog and a large number of thirdparty vendors. Furthermore, the retailer replicated Google's model by implementing keyword-based bidding for ad placements in search results.
Look Beyond ROAS
Of course, brands want to be able to demonstrate the efficacy of their campaigns. Instead of relying on softer metrics, they increasingly want to link ad spend to sales results and calculate ROI. However, keep in mind that KPIs should be viewed differently depending on the advertiser's target. For example, attracting a new customer needs more effort, and therefore the ROAS would be lower than in a campaign that primarily targeted current customers.
Furthermore, forward-thinking brands are delving into data and examining other metrics, such as retail market share. They can define subcategories where they can spend more in ads – or even advertise more SKUs – to gain share from rivals by looking at trends over time