How OTT Will Drive In-Store & E-Commerce Sales This Holiday Shopping Season
Black Friday stampedes at local retail stores used to symbolize the beginning of the chaotic holiday shopping season, but in 2019, 67% of shoppers say they plan to buy more from online marketplaces like Amazon during the holiday season. Cyber Monday is increasingly the “best day of the year” to score discounts, with the average discount rate hovering around 29%.
Even so, retailers are still finding ways to incentivize consumers to come out to retail locations. With exclusives, in-store discounts, curbside pickup, or superior IRL customer support experiences, brick-and-mortar locations will still play a primary role in moving products this holiday season.
So, how can brands and retailers (in-store and e-commerce) drive sales with a holistic advertising approach?
The Touchpoint For Driving Digital And “IRL” Sales
Everyone knows video is a key part of any good marketing campaign. But as more and more people cut the cord, OTT is going to play an increasingly important role. With OTT ad completion rates in the high 90th percentile, 72% of viewers recalling streaming ads and another 40% saying they paused a show to learn more about a product, it’s hard to imagine that savvy marketers wouldn’t be clamoring to use OTT to connect with consumers and inform them of the best deals.
In addition to overall ad effectiveness, digital targeting capabilities have also made their way to the TV screen by way of OTT. This turns the TV screen into a prime marketing channel to connect with hyper-focused groups of consumers, based on audience demo- and psychographics like age, gender, interests, and geography. Paired with the legitimizing nature of the TV screen, these capabilities have become important tools for driving both in-store and digital sales.
The Best Bet For Brick-And-Mortar
When it comes to in-store visits and foot traffic, geographically-driven ad campaigns that highlight local promotions and products are key. This focus on geography helps brands curate advertising experiences based in micro-communities, while also enabling “location extensions”, or call-outs to specific locations that include address, maps or phone number, based on geography.
OTT also provides granular measurement data, uncovering metrics like impressions, view-through, and engagement. These reports can be cross-referenced with retail location data to better understand an ad campaign’s propensity to drive foot traffic, sales and other KPIs that are important to brands. Brick-and-mortar locations also have the added benefit of the in-store experience, which can be an extra opportunity to deliver over-the-top customer service experiences, build loyalty and drive additional sales.
Driving Digital Sales With OTT
Consumers are increasingly comfortable making purchase decisions on their phones, with mobile commerce sales are projected to grow 37.7% from last year. OTT can also be leveraged to surface the best digital deals and drive call-to-actions on mobile devices. With the rise of e-commerce and social-commerce, leveraging TV and mobile touchpoints together can drive sales by capitalizing on the increasingly simple path-to-purchase.
Both brick-and-mortar and digital commerce are going to play an integral part in the upcoming holiday shopping season, and OTT is providing advertisers the opportunity to create a holistic, cohesive cross-platform strategy. OTT’s digital targeting capabilities are enabling optimized campaigns with specific call-to-actions that can drive real ROI for in-store retail and e-commerce channels. Brands just have to understand how to best incorporate the platform to achieve real business outcomes.