By Joshua Finley

Advertising looks different than it did five years ago, let alone 10. It’s not enough to broadcast branding messages, hoping you’ll increase your company’s visibility. Consumers aren’t always tuned into the same media sources they used to listen to or watch. Media formats have changed, and people expect more than generalized, possibly irrelevant messages.

They want the ability to skip, customize, and act in the moment, which is an added plus. Why see an ad for a product only to remember to type it on a company’s website later? These are some of the areas commerce media addresses, transforming the landscape where brands and consumers interact. Learning to tailor your marketing approach in this arena often means leveraging predictive insights to gauge needs before consumers realize them.

Gather Data Aligned With Your Goals

Imagine hearing an ad for a new theme park on the radio while driving to work. You hear the jingle, the park’s opening weekend dates, and the scheduled events. Near the end, you notice the ticket prices are mentioned, along with where to go to gain admission. You make a mental note to check it out later and discuss it with your family.

But say you see this same ad on a commerce media platform, such as a streaming site. The ad lets you choose which opening event looks the most interesting. Plus, there’s a QR code to purchase tickets directly from your TV or laptop screen. You talk to your family and have your e-tickets delivered to your inbox immediately. And the company has just gathered data on what event you’ll most likely be attending.

This is an example of how brands can amass consumer information based on their needs and preferences. In the above example, the theme park company can also accurately project crowd size at each event. Of course, your brand may have other objectives that can align with data gathering. These include projecting product demand and personalizing offers to drive sales. Whatever it is, you can use ads on commerce platforms to prompt consumers to disclose information supporting your marketing goals.     

Predict Future Behaviors

Your company faces a tough decision. You’ve got to boost year-round revenue, but you’re not sure which way to go. You can either expand your current product line by diversifying or introducing new flavors. It would be awesome if you could predict which choice will successfully add to your profits.

Well, it’s possible to use predictive models informed by how your audiences interact with commerce media. Companies use predictive modeling to forecast the most likely outcome based on demographics, lifestyles, historical behaviors, and real-time actions. These models can predict churn risk, reactions to price changes, and product preferences. As you might have guessed, commerce platforms are best at incorporating real-time behaviors to identify likely future behaviors.

Say you place an ad with a built-in survey on social media. Consumers see a new flavor for the existing product line vs. a brand-new item. The survey asks participants to choose which one looks the most appetizing. A predictive model may help identify your brand’s optimal product strategy by combining the results with historical trends and various market factors. Now, you won’t waste precious resources on R&D only to experience a lackluster launch.

Segment Audiences Based on Engagement

An advantage of commerce media is that it collects first-party data. It’s information consumers within your targeted audiences willingly provide. You’re not drawing conclusions or making assumptions based on generalized market data. Instead, you have something more valuable — insight into what your specific audiences think.

However, commerce platforms allow you to drill down your target consumers’ thoughts further. You can see how individuals within larger segments engage with specific messages, including those on retail media network sites. Major online retailers often sell ad space for brands to target consumers interested in certain products.

You might be browsing living room furniture on the site and see an ad for couches. Whether you engage with the ad can provide potential insights into purchase readiness and intent. The brand could further segment its audience based on engagement levels, tailoring its subsequent outreach. Those who click and browse receive a follow-up email with a blog on selecting the perfect couch. Consumers who save items to their wish lists get a coupon in their inboxes.       

Adjust Ad Placements

Commerce platforms give you an idea of how to fine-tune your media strategy. When you place ads, it can be just as important as what sites they’re on. Frequency is another factor to consider.

For example, your latest campaign is performing well on streaming sites in the evenings. You’re seeing increased engagement, including website hits and conversions. Yet, the same ad on your social media pages is tanking. Impressions are high, but clicks are low.

This data points you toward a few conclusions. Your target audience isn’t on social media much because they spend most of their free time streaming. Or, the message in the ad resonates more with the segment that spends more time streaming than on social platforms. You can tailor your approach by changing the messaging on social media while isolating the existing ad to streaming sites. You might consider reallocating your resources if the modified ad continues to tank on socials.

Commerce Media’s Predictive Insights

About 70% of advertisers think commerce media outperforms other channels. It can be interactive, highly targeted, and capture real-time insights marketers can leverage. These revelations help brands like yours refine marketing strategies so they’re more likely to produce desired results.

More importantly, the insights improve consumer experiences, predicting what they’ll gravitate to. After all, marketing is about aligning with customer needs in a way that supports business goals. Commerce media is one of the latest tools companies can leverage to satisfy both sides of the coin.

Disclaimer: 

Predictive insights and data models are based on historical trends and consumer interactions. While they can inform strategies, they do not guarantee specific outcomes.

Published by: Annie P.