With a paradigm shift in technology, increasing complexity in consumer journeys and the most price sensitive consumers we’ve seen in years1, retail is in a dynamic new era.
As peak season rapidly approaches, these transformations signal that this year will be fundamentally different. But with a deeper understanding of these changes, there are three key ways you can remaster your retail strategy to win. And with 1 in 2 Australians planning to start shopping even earlier this year, the time to start planning is now.2
AI is your marketing multiplier. Implementing AI-powered tools across the full funnel can help prevent opportunity from slipping through the cracks.
The evidence is clear, it’s close to impossible to manually predict when and where these unique consumer journeys will take place. But AI can anticipate change and adapt in real time. Put simply, AI is your marketing multiplier. Implementing AI-powered tools across the full funnel can help prevent opportunity from slipping through the cracks.
- Supercharge Search and Performance Max to fuel conversions
Starting at the bottom of the funnel with Search, AI can optimise your Search Ad strategy to ensure you show up for all converting queries, even those that have never been searched before. We found that advertisers who leverage all three AI-powered Search solutions – Smart Bidding, Broad Match and Responsive Search Ads – average 20% more conversions at a similar cost per conversion.7
In addition, given consumer journeys are now almost exclusively multichannel, it’s important to look beyond Search. Pairing Search with Performance Max enables you to reach high-intent consumers across YouTube, Discover, Gmail, Maps, and the Display Network.
- Influence consideration with YouTube Video Action Campaigns
Did you know, 80% of consumers switch between video and Search to inform their purchase decisions?8 Plus, last peak season, when it came to researching products, Australians used YouTube more than any other video platform.9
To influence the mid-funnel, AI-powered Video Action Campaigns (VACs) help you reach specific audiences and automatically optimise placements across YouTube’s home feed, watch page, Shorts, in-stream and Google Video Partners. The integrated feed capability displays products from your Google Merchant Centre alongside your video creative, for a seamless transition from persuasion to purchase.
- Enhance your brand building with YouTube Video Reach campaigns
In a time when there’s pressure on shopper wallets, brand building has never been more important. In fact, upper funnel marketing has been proven to decrease customer price sensitivity by up to 10%.10 And with YouTube reaching 85% of Australian adults11 – YouTube is the place to build your brand.
The most effective YouTube format for brand building is Video Reach Campaigns (VRCs). These use AI to automatically serve the best combination of video ad formats to deliver 44% more unique reach at 16% lower CPMs versus buying each of the formats on their own.12
With the powerful capabilities of AI today, you can layer these campaign types across the full marketing funnel to create a halo effect on conversions at the same cost per conversion. This means you can maximise return this peak season whilst also fuelling demand, leading to a more effective and efficient marketing strategy.