In a highly competitive world FMCG brands have never had to compete more than now for share of mind and wallet with customers. Many brands align their retail media spend activity with discounting, which can work well and get the promotion in front of customers. However, there is less need to discount if brands can attain strong mental availability.
The unique proposition that separates Nectar360 from the likes of other solely eCommerce retailers is widely known in the industry as omnichannel retail strategy, otherwise known as Bricks & Clicks. This is not new but is more prominent now that the range of technological advancements have allowed ad-tech to become more sophisticated than ever before.
In addition to this, having a physical store presence massively impacts the frequency a customer purchases, and the volume of transactions they make whilst therefore also able to witness ads. Our data shows that a huge 87% of customers buy products in-store.
Target customers at every stage of the shopper journey
The average customer journey is not necessarily as linear as in the past, and to treat it as such disregards the customer’s plethora of options in a crowded marketplace. Depending on the product, it can take multiple exposures and touchpoints for a customer to make a purchasing decision. Nectar360 offers the ability to synergize these and target customers at every stage of that shopper journey to ensure maximum exposure within the category which fits naturally into the customer’s way of experiencing the world.
Take an example best in class full funnel campaign below:
- A brand uses the Sainsburys Insight Platform to see a significant number of customers are lapsing from their key BWS product and investigate how to change this. It turns out their competitors have been investing heavily into the category and are reaping the benefits of this with customers.
- The brand puts together an omni-channel marketing strategy that involves multiple customer touchpoints in-store and on-site.
- A customer sees a BWS ad on their phone delivered by Nectar on Meta through an off-site targeting campaign but doesn’t purchase online – their nectar ID is logged as having viewed this ad.
- The same customer is doing their weekly shop on desktop or tablet and whilst in the favourites section sees the BWS product sponsored next to a protein-heavy meal they purchase all the time – there is not significant motivation or need to purchase the product right now and it’s a week from payday, so the purchase is further delayed.
- The customer is picking up a few bits for a social occasion at their local store and is reminded of the BWS product by a brand plinth advertising the same product in-store.
- The customer purchases the product at check-out.
- This product stays in the customer’s favourites section for a period of time following purchase, meaning when they log back onto their mobile app or desktop to book in a weekly delivery slot they see the BWS product again, are reminded of the enjoyment they experienced whilst consuming it and have the option of buying this again too.
- The customer purchases the product a week or so later on their next weekly shop and the brands retains that customer.
Rarely is the customer journey about adding delight
Much of marketing literature discusses how to build brand fame and how it’s changing. Retail media isn’t the natural way to build brand fame amongst larger PR activations and OTT but it fits into the overall strategy, creates product hero fame in a POS environment and provides ways to support these activations by pushing NPDs with brand creative options too.
Price sensitivity can be a large reason for customer switching particularly in a cost of living crisis but often there are other forces at play. Rarely is the customer journey about adding delight, and more often it is about reducing friction. The friction of whether to trust one brand over another from a quality perspective as an example. Making the choice easier for the customer by having the product front and centre on the aisle when a customer is in the mind to make a decision can go lengths to reduce that friction for customers and the data we’re seeing shows this through both in-store till, EPOS and Nectar data and digital perspective from return on ad spend (ROAS) with our eCommerce Media Platform.
Jacob Donohoe
– Senior Digital Client Executive