7 Commerce Advertising Terms For Today’s Digital Marketer
17 March 2017
The e-commerce market in India is growing and could reach $28 billion by 2019-20, registering a compounded annual growth rate of 45 per cent over the next four years. Thus, every brand is competing against each other for just a few seconds of screen time to draw in potential customers. Knowing the ins and outs of commerce advertising in today’s digital landscape can be the differentiating factor in building your brand. These key terms will help you to build your brand’s e-commerce identity
1.Commerce Targeting: Commerce targeting is the art of displaying an ad message to a user who has an intent to purchase a specific product or service/category. When someone is browsing a commerce platform to purchase, you have the best chance of a conversion. The intent of purchase may be deduced from a single keyword or action, from a page visit or from purchase or browsing history on a website.
2.Awareness, Consideration & Purchase: On a commerce advertising platform, there are multiple filters to help you gauge a consumer’s interest in actually making a purchase.
This way, you could target the customer at the right stage and fulfill your objectives accordingly.
3.Brand Health Index: Brand Index is a way of benchmarking your performance against category or competing brands in the same sector. The Brand Index is an overall score of how your brand may rank on awareness, consideration and purchase intent with consumers who are seeing your products or services in real time.
4.Advertisement Attribution: Passive viewers convert to paid customers because something has attracted them to a particular product. The exact touch points a customer clicks to go from the homepage to checkout can be tracked and measured. You can calculate the advertising cost for different touch point like clicks, signups, or adding to a cart. A common industry practice adopted by specialists is to also follow last click measurements (which is available on Flipkart Ads). Thus, you can determine the ads that produced a positive result across the purchase funnel and identify the most profitable touch points.
5.Full Funnel Measurement: Full Funnel Measurement is a smart measurement system that provides an analysis of a consumer’s purchase journey. It allows you to measure the ad uplift at each point from awareness to consideration to purchase and ensures you only spend money on profitable returns. This allows marketers to make decisions that drive business value, not just marketing milestones. Flipkart Ads does it through real time data continuously and helps you reach your goals in a smarter and faster way.
6.Pay Per View (PPV) Marketing: PPV marketing showcases an ad to an online audience who has shown some intent towards your product (either through a search or by browsing a related website). However, PPV charges a fee each time an ad is displayed to or viewed by your online audience and does not depend on a click through to your website.
7.Revenue Per Action (RPC): RPC measures the final revenue earned by the company based on each click or each ‘action’ a prospective customer takes. Calculating the revenue generated for each action of the customer allows you to calculate how valuable each click is for your brand, and what your ROI is for each stage of the consumer journey.