Whether your eCommerce business is just starting out or already established in the industry, reaching new customers through paid media is essential to grow revenue. It may be tempting to put more weight on conversion channels, but your long-term ROI will suffer if you don’t invest in audiences that might be interested but are not currently aware of your product or service.
Paid media planning for eCommerce brands should include a balanced approach that considers all three phases of the marketing funnel:
- Awareness: Pique the interest of customers who are currently unaware of your brand but may be interested in learning more
- Consideration: Reach customers who have demonstrated an interest in your brand’s offerings by their shopping habits, website visits and competitor purchases
- Conversion: Reach customers who are actively searching online for your brand or a competitive brand
Where Do Paid Media Channels Fit in the Marketing Funnel?
Awareness Paid Media
- Traditional Media: TV, Radio, Outdoor, Print
- Programmatic Display
- Social Display
Consideration Paid Media
- Social Lead Generation
- Digital Display Retargeting of Site Visitors
Conversion Paid Media
- Paid Search
- Product Listing Ads
Don’t Skip the Awareness Phase
51% of US consumers’ purchasing decisions were influenced by social media ads in 2020.1 Awareness driving media is important to not only introduce a brand to an unknown customer but also to drive that person down the funnel into the consideration and conversion phases. These awareness ads generally allow broad, but relevant targeting and offer exposure at a relatively low CPM.
1Statista, U.S. Digital Advertising Industry – Statistics & Facts, 2021