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by Frankie Karrer
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Have Yourself a Data-Driven Holiday
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As hard as it may be to believe, another holiday season is fast approaching – and this one looks to be bigger than ever. Sales are projected to hit new highs, and 52% of Americans have already reported that they’ve started their holiday shopping with 61% planning to shop early if they haven’t already.
Still, for many Americans, the evolving COVID-19 pandemic is resulting in another year of smaller gatherings, avoiding travel, and upending typical holiday traditions. This fascinating push-pull dynamic of people excited but cautious about the holidays is playing out in interesting ways for consumer packaged goods (CPG) brands, an industry that’s both a holiday staple and currently being shaken up by CTV. As consumers look to brands for creative ways to celebrate another unusual holiday season, clever CPG brands are creating memorable and personalized campaigns through their most valuable marketing asset: data.
Two CPG brands who have already found advertising success through a data-driven approach are L’Oreal and Hershey. During the pandemic, both brands faced hardships stemming from lockdowns and consumer uncertainty. L’Oreal discovered makeup demand was directly correlated to whether or not people were staying at home, and Hershey had to rethink how to promote the brand for the biggest candy day of the year, Halloween. By relying on Google search data, both brands were able to focus their marketing efforts to create successful campaigns that met changing consumer demands. They’ll be using these same insights and lessons learned to influence another uncertain holiday season.
L’Oreal and Hershey are just two CPG brands that had to quickly get clever during the pandemic – but they’re far from the only ones. By rethinking messaging and using the wealth of digital data available, CPG brands can reshape their initial strategies to create customizable and memorable experiences for consumers. A key element to this approach? A strong reporting feedback loop that monitors campaign success and provides data-informed decisions. Enter Connected TV.
CTV platforms can empower CPG brands’ data-driven campaigns as holiday plans continue to evolve, giving them the ability to track performance in real-time, target customers, deliver ads to specific audiences, and get deeper insights and stronger real-time reporting – providing real-time feedback to help you adjust creative and optimize performance.
Premium CTV platforms like MNTN’s Performance TV can take it one step further. Performance TV’s full integration with Google Analytics allows CPG brands to see how their campaigns are performing alongside their other digital campaigns, and its proprietary Cross-Device Verified Visits tool tracks the user journey after they see an ad – telling you if they go on to make a purchase, regardless of what device they use to do it.
While this holiday poses unique challenges for CPG brands, the opportunities are endless when creative marketing teams are given the data and ad delivery options of Connected TV advertising. Brands that capitalize on these opportunities will not only help to make for a memorable season of conversions – they’ll be uniquely positioned for an even better 2022 when the world opens back up for CPG brands.