Place your marketing bets with Flipkart Ads’ commerce advertising solutions
04 May 2018
With the advent of digitisation and technology, digital marketing has become ultra-competitive with such vast amounts of data, channels and choices available to marketers. The most significant positive, however, is the ability to accurately measure various dynamic marketing parameters that allow for more informed decisions while creating campaigns. To be able to get into the mind of a consumer and sell products is a challenge that requires months of planning, research and a bullet-proof strategy to succeed. Therefore, the more precise the insights and more powerful the available tools, the more likely that the strategy will work.
E-commerce platforms are widely being seen as the best way to make product-oriented sales. Many factors contribute to this, including the ease of transaction and the customer’s ability to view multiple products from multiple brands on one page. With Morgan Stanley predicting India’s e-commerce market to hit a massive US$200 billion by 2026, setting up an online store is a primary mandate for any new business setting up and for older establishments to keep up. As online shopping accelerates, so does the e-commerce players’ advantage of understanding intent-based purchases from their customer base.
Armed with years’ worth of consumers’ intent and shopping data, e-commerce platforms have the power to enable targeting more accurately than any other platform. Therefore, retailers today are using e-commerce platforms not only to sell their products but also to reach out to a relevant customer base and increase product awareness in order to achieve long-term business goals. With majority of the young population and household decision makers turning to e-commerce, it is most beneficial for brands to economise on advertising and outreach opportunities created within the e-commerce domain itself.
Flipkart E-Commerce Advertising
The numbers back this up – Flipkart alone had close to 110+ million transacting customers with nearly 11 million shipments per month. Such large volumes can help conclude that e-commerce is gradually growing into a highly sought after format to do business.
Flipkart Ads is India’s biggest e-retailer’s flagship product offering to help businesses find their target audiences and leverage to connect with them in a non-intrusive, contextual manner.
While there are still apparent challenges that are present in this nascent form of advertising, Flipkart is combining in-depth customer insight and technology to solve this problem for some of the biggest brands in the country. How? Read on:
1. More power to the marketer:
Flipkart understood early that they had to segregate their customers based on multiple criteria. Based on parameters such as disposable income, demographics and behavioural insights, Flipkart Ads uses the data to optimise campaigns for businesses and helps them target the right audience.
Flipkart Shopper Audience (FSA)
Flipkart has about a decade of customer shopping data in their repository. By deriving meaningful insights from the FSA, it can aid businesses to strategise and target those customers with higher intent to purchase. FSA is used to target Flipkart’s shoppers via ads outside of Flipkart on social media and video streaming platforms, thus increasing chances of viewability and brand recall. Many digital marketers are faced with the faulty idea that higher investment will lead to higher reach, which will in turn result in higher ROI. However, the fact of the matter is that higher reach is only productive when the audience being targeted is relevant and has high intent to purchase. FSA gives brands the chance to benefit from high purchase intent and convert it into a sale.
While the industry benchmark for a creative static ad conversion is much less, Flipkart has seen businesses get up to 0.5x conversion outside and 3x conversion on its own portal, proving that their ad formats are an investment worth looking at.
2. Multiple Ad formats:
A pioneer in e-commerce advertising such as Flipkart has access to invaluable data points that give brands the leverage to connect with the users in a productive and qualitative fashion, using varied types of relevant ad formats. This paves way for a collaborative, agile marketing approach that is data and objective driven in nature. The ad formats include –
- Listing Ads – These ads showcase your products on the product search catalogue to relevant customers resulting in improved visibility. Higher visibility given to the advertised products throughout the transaction journey of the customers could help in creating potential sales opportunities and help entice more customers to make a purchase. The ease of creating ad campaigns using seller dashboard makes Product Listing Ads a highly sought after and a popular ad property.
- Attach Ads – This ad format is used for a shorter sales cycle and is displayed primarily to increase brand visibility and recall. These ads appear when the customer is about to buy a product and a product from a related category is shown, resulting in an opportunity to cross sell. For example, a tempered glass will be shown as part of the recommended item list to the customer who is on Flipkart to buy a phone.
- Rich Search Ads – These ads showcase your product in the category’s search page, allowing you to reach out to prospective customers contextually. The innovative ad format with its promise of precise targeting can drive consumers about to make a purchase to your products.
- Other ad formats – Together with other ad properties including Premium Ads (first page first look), Brands Stories Showreel (storytelling coming to life through canvas), and Brand Story Cards (scrollable cards), Flipkart Ads’ offerings are all paving the way for greater brand awareness, improved conversions and subsequent increase in ROI.
3. Live dashboard with Full Funnel Measurement:
Flipkart uses cutting-edge technology to provide intricate details of the consumer’s movement along the funnel – from ‘awareness’ to ‘purchase’. Relevant data metrics and advanced reporting allow brands to comprehend the position they hold (and can potentially hold) in the minds of the consumer.
With the help of Flipkart Ads Manager, marketers can manage, measure and optimise their existing brand ad campaigns. From analysing data in real time to tracking your campaign performance, the ads manager helps you to take an in-depth look at your ad campaign and help decide changes.
The live dashboard continually updates and allows brands to know exactly who they’re targeting. It not only provides details of all customer preferences, but also can be customised in order to suit advertiser’s needs. With the help of the live dashboard, specific targeting parameters can be set based on how the advertisers want their ads to be portrayed.
All in all, advertising on Flipkart Ads gives brands the chance to follow a data driven approach to interact with transacting consumers, track the buying journey of the consumer (from awareness to purchase), and consequently measure the effectiveness of their advertising effort. What has made it a favourite among marketers is its data tracking and analytics capabilities, massive reach and the ability to micro target. From discovery to destination, commerce advertising with Flipkart covers all its bases.