2017’s eCommerce advertising trends have provided a gauge of what we should expect for next year’s trends. By 2020, reports have estimated that US spending on digital advertising is set to hit $113.18 billion, double the amount of just two years ago. To stay on top of what is to come and ahead of the curve from your competition, here are five eCommerce advertising trends to look out for in 2018.
- Focus on Mobile-Oriented Traffic
With any successful advertising plan, your company must ensure effective content delivery. That includes determining how your target audience is likely going to interact with your advertisements. According to Statista 2017 report, about 39% of sales are through mobile devices and, by 2020, mobile traffic will increase eight-fold. What does this mean for advertisers? In the coming years, advertisers will need to spend more time and money implementing mobile-friendly advertising to stay on top of the competition.
- Continuous Engagement
As the advertising space becomes more saturated with content, advertisers will be forced to fight for customers’ attention. One way to stay ahead of competitors is to find ways to continuously engage customers before, during and after the purchase. It is not enough anymore to merely catch their attention when they are in-market, but also continue to peak their interest after purchase to continue the loyalty. Advertisers who succeed in engaging their customers outside of just their purchase points will have a considerable advantage.
- Investing in Video Advertising
Video content is a growing method of communication for advertising to shoppers, especially with younger generations who are increasing in purchasing power. With the demand for video growing at such an incredible rate, it is no surprise that 52% of marketing professionals, according to a recent survey, feel that video is the type of content with the best ROI. As an added bonus, 43% of shoppers admitted they want to see more video content from their advertisers. Yes, we understand that the content can be more time consuming and expensive to create, but it gives the customer an opportunity to play a greater role in the conversation and increase knowledge about what your brand has to offer. Studies have found that video content can increase sales by as much as 80%.
- Data-Driven Advertising Placement
Using data to tailor advertisements to a target market is vital by today’s standards. There are a multitude of categories that can be used to target a certain audience. Advertisers use things such as large events, people’s interests, previous browsing intent and popular trends to help narrow down an audience. This can be used to more effectively place advertisements and boost CTR’s. Data-driven advertising is similar to native advertising in the sense that you are using prior knowledge of a customer to place an ad in a position where customers will most likely interact with it. At Hivewyre, this our bread and butter. Focusing specifically on shopper’s intent, we assist our clients to target competitors’ unconverted shoppers with the intent of converting them to grow our clients’ revenue. We are so happy to know this trend is catching notice and we are definitely ahead of the curve.
- Investing in Native Advertising
Most people would agree that it would be logical to place an ad for a car in front of someone that’s in the market for a car. Native advertising follows a similar premise; the ad being displayed will pertain to the environment that it’s displayed on. Recently, native advertising has been growing in popularity largely because agencies have realized that native ads result in significantly higher click-through rate (CTR) than traditional methods. The rise of click-through-rates for native advertisements is increasingly important because of the speedy decline of CTR’s for traditional digital ads. Studies show that focusing resources on native ads can improve CTR’s by more than a 300:1 ratio.
We have seen this year as a strong year for our clients thanks to a focus on the trends and staying ahead of the curve. We hope 2018 can bring them, and you, fruitful revenues thanks, in part, to staying alert to the latest in eCommerce advertising trends. We are always here to help if your company is looking for that extra edge in eCommerce advertising.
Hivewyre is a forward-thinking programmatic advertising company. Their private data cooperative allows advertisers to share first-party audience data and build targeted campaigns for prospecting new customers based on their competitors’ unconverted shoppers. Hivewyre advertisers have access to fresh, exclusive data that will never be sold to a third party. With over 500 retailers and over 100 million monthly in-market shoppers in our co-op, our distinct advertising strategy allows you to combat rising search engine PPC & PLA costs and the ever-expanding online marketplace growth. In addition to access to the exclusive data, co-op members benefit from full-service account management and detailed reporting of the return from advertising spend. To learn more about Hivewyre, visit www.hivewyre.com.