Four-fifths (81 per cent) of advertisers working in retail say that retail ads need to become “more adventurous”. That’s according to the latest data from Bango, from a survey of 300 US and UK ad professionals working in eCommerce and digital retail.
As they seek to take a more “adventurous” approach, retail advertisers are also looking to diversify the data which informs their targeting, with 83 per cent saying they are actively exploring new sources of data for accurately targeting their online ads.
However, it’s not proving easy. Despite their willingness to trial new technologies and venture into new territories, 60 per cent say that it’s “never been more difficult” to reach the right retail audiences online.
This difficulty can be attributed to the turbulent state of digital advertising, which has been impacted by both reduced consumer spending and declining marketing budgets. Combined with growing demands for data privacy, these factors now present significant obstacles for effective ad targeting in the retail space.
As Anil Malhotra, CMO at Bango explains, “There’s no doubt that ad professionals remain committed to delivering informed, personalized and effective ads. But the deck is stacked against them.
“It’s time for advertising to get adventurous again. Only the boldest will succeed – those willing to explore and trial new innovations and targeting methods. Our data suggests the search is already on — the difficulty lies in finding the missing piece of the puzzle. Good targeting makes all the difference. Without getting ads in front of the consumers who will actually make a purchase, it’ll remain harder than ever to grow businesses and unlock revenue. This is where purchase behaviour targeting comes into play.”
Share