Mobile grocery lists drive CPG retargeting strategies
How the adoption of mobile shopping lists creates new data set: Basis for CPG retargeting advertising strategies
We’ve all experienced “retargeting” online: You visit a website to check out a new product, but leave without making a purchase. For the next two weeks, everywhere you look, all you see are ads for that product.
Of course, that’s no coincidence. Those ads are the result of that product manufacturer using the strategy of “retargeting” to stay top of mind with consumers that exhibit “purchase intent.” Your visit to their site was a cue that indicated you were closer to buying than the average Joe and they want to keep you in that mindset until you convert.
For most industries, retargeting has become a cornerstone advertising strategy simply because it works: 92% of marketers say retargeting performs the same as or better than other display (AdRoll). They know that it is much easier to convert someone who is already considering a purchase than trying their luck with someone new.
And because retargeting delivers such a high ROI, most advertisers commit a significant portion of their overall advertising budgets to retargeting efforts: “71% of marketers spend 10–50% of their entire online ad budget on retargeting” (AdRoll)
CPG Brands Struggle to Retarget
Despite its dominance in other industries, retargeting has mostly eluded CPG advertisers because they don’t generate the same data around purchase intent.
Unlike someone shopping for a new TV, consumers who are considering switching to a new detergent probably won’t visit the detergent manufacturer’s website. And since most consumers still buy their household staples at a grocery store, they’re definitely not adding it to an online “cart.”
Instead, when considering a new product, that consumer may stand in the aisle of their favorite grocery store, deciding between an incumbent brand and the new one. Since these actions can’t be tracked, even if that consumer was 99% ready to switch, needing just one more nudge … no one will know. And without that data, that new detergent brand is missing a crucial bit of information that would allow them to retarget.
But mobile shopping fill that exact need.
Shopping list data makes retargeting possible for CPGs
Consumers have made the switch from pen and paper to mobile grocery lists and these new digital versions provide the same purchase intent clues that other industries use for their retargeting efforts.
- When that consumer added “detergent” to their list, the brand knows it has an active buyer.
- It can then serve that consumer ads that automatically add products to the consumer’s mobile shopping list when clicked. Better still, the brand can track the whens and wheres of that data.
- Based on when the consumer adds a product, the brand can target that consumer when it was time to buy again, with a message designed to inspire loyalty, instead of trial.
Let AdAdapted show you how to unlock purchase-intent data from mobile shopping lists and increase your advertising ROI through retargeting.
References: AdRoll State of the Industry