For online retailers, regardless of whether you’re a global giant, mid-sized company or a small startup, there is an ongoing challenge to identity and find and target relevant new customers that will convert on your website. This is a crucial element of any digital marketing plan for business growth and of course profitability, however acquiring new customers in today’s online landscape is not as straight forward as it may seem.
Online retailers can’t afford to sit still and wait for customers to come along. You need more traffic and continuous growth, but how do you find, engage, and convert new shoppers, especially when prospects are using multiple devices and channels and are constantly being exposed to ads and different content. Finding and attracting the right shoppers with the right message that will convert them on your website can be a challenge.
According to a recent Gartner survey, marketing spend has become heavily skewed toward retention, with these budgets representing two thirds of marketers’ total investments. But if new customer acquisition is a key component to driving strategic growth, why have marketers only been putting a third of their budget towards it?
Criteo Customer Acquisition engages new customers based on historic shopping and browsing events, their interests and likelihood to convert for your products. It helps you drive conversions from new customers through personalised product recommendations across devices and our immense publisher network, reaching 72% of online shoppers.
There are four major benefits of the Criteo Customer Acquisition tool that sets brands apart from their competitors:
1. Target the Right Shopper
The Criteo Shopper Graph is the world’s largest open shopper data set, measuring shopper identity and interest to present a unified understanding of not only a shopper’s online journey, but also real-time intent data. This means retailers can granularly identify and isolate new customers from existing ones.
Criteo Customer Acquisition leverages the full capabilities of both the Shopper Graph’s Identity Graph and Interest Map. Our identity graph contains over 4B global cross-device IDs and has over 10,000 participating clients.
2. Increased Shopper Conversions
It’s key to understand every potential customer has a value, specifically the likelihood of them making a purchase at your store. For example, luxury retailers would not be targeting consumers who have never visited a high-end store.
To make the most of their data on daily shopping and browsing events in the Shopper Graph’s interest map, Criteo provides a granular analysis on accumulated shopping and browsing events, providing retailers with the ability to target highly relevant shoppers with a high likelihood of converting to a purchase. The interest map covers over 4 billion products and 21 billion product interactions per month of over 1.4 billion monthly shoppers to generate 600TB of daily shopper data.
Each prospect is assigned a unique score across all participating retailers based on the ideal customer, evaluating how likely you are to see conversions. Criteo targets the shoppers with the highest scores and serves them personalised ads featuring your products.
3. Personalised Product Recommendations
Identifying customers is step one, but delivering a key, compelling message that leads to customer conversion is crucial to achieving your business objectives. Advertisers can leverage behavourial data from Criteo’s active internet shoppers to drive up to 72% of new customer rate and bolster shopper engagement, through Criteo’s user-centric, product recommendation and machine learning technology across acquisition campaigns.
As part of Criteo’s engine, Kinetic Design helps your campaign generate visually stunning ads with the highest levels of one-to-one creative personalisation, while maintaining ad formats and brand consistency.
4. Maximize ROI with a Performance-Based Model
Drive maximum ROI, and benefit from a unique, performance-based acquisition solution, so you only pay when new shoppers engage with your campaign.
Acquisition is key for any retail business but it’s not easy to engage the right prospective customers. Further to this, the inability to do so significantly hinders growth and profitability. Businesses now have the power to leverage customer data to identify and reach relevant customers, which is an invaluable asset.
To be successful in a competitive ecommerce landscape, online retailers heavily depend on new prospects to grow their customer base, and with the modern consumer being an omnichannel shopper the challenge to identity and engage with the right audience is prominent.
With the power to identify relevant prospects, engage them with personalised product recommendations for increased levels of new customer conversion, Criteo Customer Acquisition is a key tool for digital marketers looking to expand their business and increase revenue.
For more information, visit Criteo online here.