Your 2020 Playbook for Maximizing Ad Effectiveness: Foot Traffic
Welcome to the ‘20s! Now that we’re in a new decade, it’s time to start thinking about your new goals. If you’re looking to increase foot traffic at your store this new year, how are you planning to achieve that success? Wondering where to begin? Look no further – we’ve analyzed 3 years of Placed data that can help you maximize ad effectiveness and drive people to your store.
Our Insights Lab team conducted an in-depth analysis of over 1,500 campaigns from the past 3 years and synthesized the most relevant and actionable insights into a 5-part series.
Goal: Driving people to your physical locations
For clients with physical stores and locations, foot traffic is the first step towards generating sales. As such, it is an important KPI to consider. According to __Robert Palma, VP Retail Vertical Sale__s at Pandora:
In this experience-driven age, brick-and-mortar stores are once again becoming an important strategy for retailers. We partnered with Placed in order to understand how effective audio ads are at driving consumers to physical stores. Upon digging through the data, we noticed a particular trend:
Over the past 3 years, the average year-over-year lift across all our campaigns increased 6x! But why? We found three common themes that successful campaigns have been improving upon over time:
Create FOMO. A clothing brand leaned heavily into the FOMO aspect and created a campaign that sounded like they were interviewing real customers about how much they love their new clothes. They saw a huge 11.24% increase in foot traffic from this campaign.
Have one clear CTA. Over the past few years, campaigns have gotten progressively better at limiting their CTAs to a single request. A good example of this is a popular fast food chain who told a story about the bond a father and son shared from going to the restaurant together. The ad ended by encouraging consumers to start their own tradition by coming to the restaurant. The message was very clear (and infused some of that FOMO) and the client saw a whopping 46.22% increase in foot traffic after this campaign.
Consider the frequency of your flight. With the sheer volume of data available today, advertisers are increasingly more focused on the frequency of their campaigns. Marketers who consistently message to their audience maintain top-of-mind awareness and this pushes consumer action within the category. Many of the lower performing campaigns had lower overall campaign frequencies, while the higher performing ones tended to have higher overall campaign frequencies. There are many dependencies that play into choosing the perfect frequency level, such as how well known your brand is or if you’re targeting a new audience, but making sure that your ad is heard multiple times will help consumers remember it and act on it.
What this means for marketers
Consumers have a ton of choices on where to shop. How can you persuade potential and existing customers to visit your location? We’ve seen from our research that consumers will come to your store if they are motivated to do so. Be sure to test different creative to see what resonates best with your audience.
Leverage all of our insights to help guide your media plans as you’re thinking about new strategies for 2020.