As more consumers flock to eCommerce, big retailers are putting a heavier focus on their online and mobile marketplaces. Target’s changes to their eCommerce marketplace has created massive growth in the past several years making it a valuable retailer for eCommerce advertisers. In fact, with an impressive user experience, Target’s mobile app has witnessed a staggering 680% growth in clicks in 2020.
Being one of the least competitively priced platforms, Target allows brands to build a favorable positioning and command premium rates too.
As an advertiser, it becomes important to differentiate your offer and curate a memorable assortment for all loyal consumers. As a joint business partner, Target’s app and website have huge potential if you know how to leverage it for your brand. Here is a quick guide to help you find success on Target.
A solid strategy when starting out and expanding into eCommerce advertising is prioritizing Target’s search placements.
Pacvue’s research shows that Target consumers are 2 times as likely to buy a product if they engage with the search button. The app has even seen a 450% growth in impressions and landing pages have become a gateway to building a customer base.
This becomes especially rewarding when promoting hero SKUs and pack-size products. Larger sizes and combo deals are another secret weapon to increasing margins for profitability on the platform. You can create customized package offers for your customers with Target, giving them another reason to click on your product ad every time.
Target’s merchandising team curates the top organic results for search queries very carefully. With a heavy focus on competitive product searches, search ads are a great way for you to establish your brand on Target.
Many advertisers make the mistake of spending more than they need to, and there’s an easy solution. Share of Voice allows you to analyze performance, so you see how well you rank.Target ads use first-price auctioning, so incremental bidding is your best bet to attract customers.
Scale bids by about 15-20% every few days to avoid overspending. Maximizing your ROAS should always be a priority, and Target regularly prioritizes some categories over the others. Knowing the trends and balancing your bid amounts for each product category can save your budget in the long run.
Regularly adjust the bid amounts based on your analytics. This lets you place winning bids for product ads that aren’t performing well by paying the full amount for them. Once you hit your target impression volume, decrease bids to save your ad budget.
Products with updated content do significantly better. This includes popular keywords in the title line. Consumers pay more attention to the display images than you might think. So, making the carousel engaging and informative can differentiate you from the competition and increase sales.
On Target.com, customers have the option of adding products to their cart directly from their search results. Both the title and the hero image of the product become key to increasing sales for your brand. Target also allows text in product videos. This is a great way to communicate your product’s USP to all prospective customers.
Animated video slideshows are proven to drive up conversion rates, so it’s definitely worth the effort. Since product images cannot have text, it becomes more important to keep the product title and description crisp and convincing.
A foolproof plan for campaigning more efficiently is to segment products based on Target’s built-in categories. Target displays filters at the top of every search query, and there are a lot of insights you can take advantage of.
Conversion rates for each category give you a better understanding of your target audience’s purchasing patterns. That way, you can reverse engineer the campaign budget by prioritizing the categories with less-than-desired ROAS.
Target gives brands a unique bid floor for each of its subcategories, and icons of wellness are sprinkled throughout the app making the consumers’ decision easier. From $0.27 going up to $3 for expensive electronics, category-wise bid ranges differ greatly. For retailers, segmenting your campaign based on product price can prove highly effective.
In 2020 itself, Target managed to double its sales through the website and mobile app. With the right systems in place, it’s possible to achieve huge success on the platform. Want to get your hands on more information?
Well, you’re in luck.
Fueled by OneSpace, Pacvue, Profitero, and firstmovr, check out the coveted “Fast Start Guide: 10 eCommerce Quick Wins on Target.” With these 10 pro-tips, you’ll get access to all the industry tips and strategies you need to accelerate your Target eCommerce advertising today.
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