New survey finds number of marketers planning to use sales data to triple in next year
Greater availability of buyer data will allow 76% of marketers to close the loop between campaign and consumer action
New consumer buying habits are leading marketers to turn to sales data to better connect consumer behavior to sales, according to a new study from The Trade Desk (NASDAQ: TTD). The study shows that the number of marketers who intend to use sales data very frequently, compared to those who currently use it, is expected to nearly triple over the next 12 months. The study also shows that 76% of marketers plan to use point-of-sale data frequently over the next 12 months, as they seek to link advertising activity with consumer purchases, whether online or at the store.
This research comes as more retailers look to leverage their in-store buyer data, so advertisers can more clearly measure the impact of their campaign activities on actual consumer actions.
As consumers’ cross-channel buying habits continue to evolve, the role of buyer data becomes essential for media plans. Marketers recognize that sales data is a rich source of information that can be used to both drive purchases and build brands: 44% of respondents said they use retail data to track sales growth, while 39% said they used them to improve brand equity scores. .
“Marketers have long sought to connect their marketing investments with online and offline consumer behavior, and retail data brings us closer to this holy grail of the industry,” said Brenda Tuohig, SVP, Global Data Partnerships, The Trade Desk. “Retail data can make brands much more efficient and accurate. They can understand how a campaign drove results in a specific region, in a particular store, at a certain time of day, using different advertising channels and creative approaches. For advertisers, this is a game-changer.
A separate survey of more than 5,000 consumers indicated that today’s shoppers appreciate the convenience of shopping online, but many still enjoy the in-store experience. Fifty-three percent of those polled said they buy primarily from physical stores, while 23 percent prefer to buy primarily online.
The percentage of consumers who do most or all of their purchases in-store compared to online purchases in all categories:
Clothing and Clothing – 34 percent
Home improvement – 51 percent
Beauty / Personal Care – 51 percent
Pharmaceuticals – 59 percent
Groceries – 71 percent
According to the survey, nearly a third (33%) of millennials said they shop primarily online, but different motivations determine consumers’ buying preferences. In fact, 25% of consumers said they bought in-store because of the physical convenience of the retailer, and 20% ranked “ability to buy online, pick up in store” as the main reason to buy. more online or on a retailer’s app.
Due to the change and fragmentation of buying habits, more and more marketers are turning to retail media networks to help them reach consumers with relevant ads along the business journey. purchase, as well as to measure the effectiveness of this advertising. Indeed, 55% of marketers said they employ three or more retail media networks in their marketing mix. And while 89% of marketers report being very or extremely satisfied with the retail media network they use, 34% see the “availability and fragmentation of retail data” as a marketing challenge.
Nonetheless, marketers are realizing that retail media gives them the ability to use the data to deliver relevant ads to consumers at the right time and in the right format, as they aim to drive sales and increase their revenue. market share. In fact, 74% of brands reported having dedicated budgets for retail media networks, and these networks now rank fifth in terms of budget allocation, behind digital video, paid social media, digital signage and paid search.
“As consumers’ buying habits change, marketers need to be more agile and data-driven than ever. With 71% of shoppers saying they prefer limited, personalized ad experiences over paying to avoid ads, brands have the opportunity to leverage the capabilities of retail media networks and their rich data sets. With this, marketers can better understand consumers to create smarter digital marketing campaigns, as well as have the ability to measure the direct link between relevant advertising and sales, ”added Jed Dederick, SVP, Global Customer Development, The Trade Desk.
Methodology for the Material + survey
The Trade Desk conducted a survey of advertisers with Material +, interviewing over 150 brand marketers in the United States. Brand marketers are defined as those who work in the marketing area of a consumer goods manufacturing company that sells its products through wholesale retailers. Respondent teams are responsible for brand marketing (e.g. digital marketing, CRM marketing) and / or customer marketing. All respondents were directorships or above and have a role in deciding where advertising funds are spent. Fieldwork was carried out from September 1 to 13, 2021.
Methodology for the YouGov survey
YouGov conducted an online survey of more than 5,006 US adults (18+), categorized into subgroups of “Shoppers” defined as consumers who have purchased an item in the past three months in home improvement industries. , clothing and apparel, pharmaceuticals, beauty and personal care or grocery categories. Fieldwork was conducted September 17-23, 2021. Figures have been weighted and are representative of US adults (18+).
About the trading desk
The Trade Desk ™ is a technology company that enables buyers to advertise. Through its cloud-based self-service platform, ad buyers can create, manage and optimize digital ad campaigns across all ad formats and devices. Integrations with leading data, inventory, and publisher partners ensure maximum reach and decision-making capabilities, and enterprise APIs enable custom development on top of the platform. Based in Ventura, California, The Trade Desk has offices in North America, Europe and Asia-Pacific. To find out more, visit thetradedesk.com or follow us on Facebook, Twitter, and LinkedIn.
View the source version on businesswire.com: https://www.businesswire.com/news/home/20211110005665/en/