Results from Bench study proves increases in conversion rate uplift
In the wake of Covid-19 consumers have spent more time engaging with various media and online channels like paid Search & Social have been a staple for marketers. However, driving outcomes through these channels has become less efficient and effective, due to factors like the impact of iOS on Facebook and user fragmentation, especially with the rise of TikTok. In addition, costs across paid Search & Social media have increased by over 20% year-on-year.
These factors will only be exacerbated by the impending cookieless progression of Google, plus the recently announced app tracking restrictions, which will further affect Facebook as research by Flurry found that over 72% of people are opting out of tracking iOS.
Furthermore, trust has been massively eroded over the last two years. People are switching easily between brands so according to a recent Shopify study, building brand presence and awareness is key.
Paid Search & Social will continue to be important channels in building awareness and converting audiences, however, marketers need to diversify their channel mix to gain incremental customers and outpace competition.
A recent Bench study proves that adding programmatic branding ads across multiple channels can increase conversion rate uplift* anywhere from 15-300% on paid Search & Social activity.
Table 1: Impact of conversion rate uplift when adding programmatic branding ads to paid Search & Social activity
|Health & Medical||Purchase||+290%|
*Conversion rate uplift refers to the percentage uplift between someone clicking on a paid Search or Social ad, and then converting VERSUS being served a programmatic ad, then clicking on a paid Search or Social ad, and then converting. The aim is to showcase the efficiencies that can be generated on paid Search & Social when implementing a programmatic strategy as the first touch point.