Last week was the 14th annual Performance Marketing Awards, a virtual extravaganza celebrating the best campaigns, companies, and individuals of performance marketing. We are excited and honored to announce that NMPi by Incubeta has taken home the trophy for Community Hero, which is awarded to the business who puts social responsibility, ethics, and company culture at the core of what they do.
This award is incredibly special to us and a real testament to our employees who have come together to form our committees and influence real change in our business.
“NMPi by Incubeta was widely praised by the judges as their passionate and driven team went above and beyond to support the community in 2019.”
Our trophy for Community Hero was not the only recognition we received for the evening. Our work with Tipi was also highly commended in the Best Lead Generation Campaign, for our work in closing the loop between their online activity and offline sales.
We would like to take this opportunity to congratulate everyone who has been involved in these projects and thank them for their hard work. We are incredibly grateful and proud of our team.
In our first all-virtual seminar, The Future of Performance, we explored some of the most exciting opportunities and advancements that our Performance Marketing Team has been working on throughout 2020.
In today’s climate, finding ways to mitigate risk is crucial for business success. As digital marketing specialists, we’ve been focused on how brands can effectively market themselves in times of crisis and stay ahead in a rapidly changing landscape.
We at NMPi by Incubeta strongly believe in the value of performance models and have continued to push the boundaries of what is possible. True performance marketing, in particular, has never been more relevant, being such a risk-averse model. Our all-virtual seminar covered the advancements that we’ve made in this model – including Feeds, Creative, and Amazon – and how they can support you as you power up your Q4 strategies.
Online commerce has become a real lifeline for retailers and this is only set to increase over time. If you’re a retailer especially, your performance is directly influenced by the quality of your feed. According to ChannelAdvisor, 42% of consumers will be shopping more digitally in the future: more shoppers means more brands wanting to meet demand, which means that your online marketing needs to be airtight.
Feeds and Feed Management have been a core part of our approach to all kinds of advertising, and our internal experts have covered the topic in-depth in pieces like “Taking Feed Management to the Next Level”. In short, however, the most important areas to focus on are ensuring consistency, improving the quality, and applying regular governance. If you’re looking to take your feeds to the next level, you can even begin to incorporate third party data such as weather, social triggers, and even sports schedules.
Consumers are increasingly turning to Amazon for their online shopping needs and it’s easy to see why. The channel offers an ease of service, shipping, consistency and an overall great experience for the user. Compared to Google, the intent to buy is much much higher here; even if the user is only doing product research. Considering its relationship with the consumer, it’s no wonder that we see it as the Missing Piece of the Consumer Journey.
For retailers, the advertising offering has strong performance and ROI, a huge audience to take advantage of, and an active user base. As we ramp up to Q4 and the Christmas shopping period, then, it’s time to start putting your strategy into place. Our data highlights that 30% of users on Amazon plan to make their Christmas gift purchases in November, while 50% of consumers of still undecided about presents after Black Friday, so the majority of sales are made in early December. To make the most of this channel, we recommend that you start showcasing your brand before Black Friday, and keep the momentum going all the way until the end of the year.
Unlike most performance channels, optimizing to clicks isn’t an effective strategy for display. Expecting someone to see a display banner and click straight through to store to make a purchase when they’re in the middle of reading the news is like expecting someone to make a direct action after seeing an OOH ad. However, this doesn’t mean that display doesn’t contribute to performance.
To make display a truly successful performance channel, we have to shift our focus to being creative first. It’s the message that drives action, not the media selection. This lets you turn your optimization approach away from clicks and towards engagement, and helps to unlock the power of smart media buying. Finally, it gives you the opportunity to really demonstrate your broader value to your business and marketing strategies. How do you get your strategy right? It’s actually pretty simple: just remember that if you want something from a customer, you have to offer them something in return.
Anna goes into more detail about creative and display as a performance channel in her slides which can be found here.
The value of paid social is hopefully fairly apparent, and it’s something we’ve discussed at length before (for example, in 5 Essential Steps for Maximizing Facebook and Instagram Advertising). With 3.96 billion active monthly users, both your new and existing customers can be found on social, and lockdown has formed new, permanent habits with the way we use these channels.
Paid Social is often not considered to be a true performance channel, instead, there is a misconception that it is a branding-led channel. Since the wider social media user isn’t as in market as your average Amazon user, there is a belief that you can’t run performance-driven campaigns. While some platforms like TikTok are very much branding focused, Facebook and Instagram, in particular, are great performance channels to make the most of as you head into Q4.
To find out more about how you can use Paid Social in Q4, check out Jack’s slides on our Slideshare.
Supporting your Strategies
We have a wide range of audits and workshops available to support your Q4 strategies and performance campaigns over the coming months. If you’d like to find out more, please get in touch with our team at [email protected].
At times of crisis, marketing often feels the flack. It’s one of the first budgets to be cut and one of the most visible faces of a brand: get the communications wrong and the world will notice. At the same time, it’s also a function that, delivered efficiently and effectively, helps businesses bounce back in better times. A recent article I wrote for MartechSeries examined just how advertisers can prepare now to build business resilience in the future.
It’s vital that marketers take steps today to ensure that they remain relevant tomorrow and there is one tool in a marketer’s arsenal that is all-too-often overlooked that can help them do just this. Feed management.
Getting the Digital Basics Right
It’s not the most glamorous of strategies but feed management is one of the most effective and deserves to be far higher up the value chain – if employed rightly. If feeds are something that a brand has ignored or let slide down the priorities list, then it is essential to get it back up and running as soon as possible. It’s vital that we get the digital basics right, particularly as consumers are migrating online at a faster pace than ever.
Post-COVID, it’s likely that this pace will slow, but new consumer behaviors are being consolidated: we’re all e-buyers now, and online accounts for one in every three dollars spent. As for those two other dollars, often the path to purchase will have started on a phone, laptop, or tablet.
Your data feed should be the foundation of all campaigns and automation, so this is where you should start.
At its simplest, feed management is the building and optimization of data to drive automated ads in the relevant channels and ad formats. The key ad formats that use feeds are Google Shopping, Dynamic Social, and Dynamic Display, although realistically it is anything where you want to advertise on an individual item. This can be taken further by ensuring ads are always accurate, relevant, and targeting the right audience irrespective of the channel or ad format.
Quick and Easy Wins
There are some easy wins to make your feed management more successful. One problem we often find is that disconnects between the teams managing the feed and the media make for miscommunication and, often, the spending of more money. Cutting out the layers of administration also allows brands to move to a more sophisticated set-up more quickly. Data maturity pyramids allow marketers to make more of the information that they have, particularly the increasingly valuable first-party data available, while creating a feedback loop of performance data into your feeds can enable you to make decisions at scale across channels, and the benefits will be iterative.
Once these strategies are set in stone, brands have the chance to do even more with their feed management. Third-party data can be onboarded to automatically change bids, budgets, and ads, for instance. Think weather, pollen, fantasy football ratings, sports fixtures (now they’re back up and running), or social triggers – the list is endless.