As the future of digital advertising continues to develop, Magnetic today released a report titled “The Future is Now,” a market analysis that explores the changes taking place in the digital industry by specifically looking at the growth of display advertising and search.
The report, which includes insights from top digital experts and industry leaders, is the first research initiative dedicated entirely to analyzing the power of search retargeting. In particular, it argues that the future of digital advertising ultimately lies within the combination of search data and display advertisements. As Magnetic’s CEO, James Green, suggests “There is no more compelling time to put a display or text ad in front of someone than after they search for a specific product…the report reinforces this belief and highlights the promise of search retargeting as the vehicle for placing your brand in front of the customer at the right point in the purchase decision cycle.” The report also highlights that although search spending is expected to double by 2016, display advertising will nearly triple (reaching an estimated $27 Billion).
In addition to discussing the growth patterns of display and search, the report also covers topics such as :
Effect of customer demand on digital technology
The concept of bringing SEM beyond the search engine
Future opportunities and best practices for search retargeting
Q4 2011 represents one of the largest business opportunities for brands. Last year, the holiday shopping season set an all-time record, reaching a total of $32.6B for e-commerce spending.
According to comScore chairman Gian Fulgoni, the 2010 season will be recognized for an exceptional Cyber Monday, noting the first billion-dollar spending day in history, and the first time that Cyber Monday rank as the heaviest online spending day of the year. Fulgoni added that retailers targeted many of their promotions even earlier than usual and reaped the benefits.
The chart below shows 2010 holiday sales by week:
With search retargeting, the ability to target users with digital display ads based off of user search history, brands can reach audiences that are engaging (i.e. searching for) in Q4 events and holiday shopping activities online.
This includes reaching those consumers users who have searched and signaled intent in specific products, services and competitors across the following events/topics:
Black Friday/Cyber Monday promotions
Holiday gifts/deals across consumer categories — electronics, toys, apparel, travel, sports, etc.
Gift certificates across verticals — food, travel, entertainment, etc.
Sporting events (NFL & MLB post season)
To learn more about how you can leverage search retargeting for your Q4 campaigns, contact us here.
Search Evangelist Eli Goodman kicked off the webinar with a look into the state of search, showing that there were 26.6 billion searches performed in June 2011. Eli noted that search growth is driven by increased intensity, giving off a 6% year over year growth. Goodman calls out that it’s the number of searches per searcher that is fueling the growth, not the number of people actual searching online.
Josh led the search retargetomg conversation with an interesting stat: Although search is the highest performing form of internet advertising, only 4% of users time is actually spent in the search engine, while 96% of time is spent on sites serving display ads.
Josh went on to show the audience how to take the power of search and apply to display advertising. He offered up the following best practices for running a search retargeting campaign:
Define Goals: conquesting, lower funnel activities (with clear attribution model), branding to specific audiences
Select Inventory: comScore 250, exchange media, with or w/out user generated content
Identify Audience: define keywords that your audience would be searching for, and leverage keyword generation tools to increase scale
Place Conversion Tags: these provide insights to successful optimization – helping determine which keywords, data sources, recency of searches along with media, creative, geo, etc. are driving results
Optimize: tailor keywords, recency window, inventory, etc. to beat KPIs, while balancing between precision & scale