As the world of e-commerce continues to evolve, online search has become an integral part of customers' shopping journeys. At Walmart, this trend is no different, with over half (51%) of surveyed customers reporting that they discover new products once a month or less often through Walmart's online search results. Not only are customers discovering new products, but they are also utilizing virtual shelves to research and compare items, with 75% of shoppers using Walmart's online platform for this purpose.
This shift in consumer behavior underscores the importance of brands investing in advertising strategies that help their products appear prominently in search results. Recognizing this, Walmart has taken a significant step forward by introducing Sponsored Videos, a groundbreaking addition to its Sponsored Search solutions.
Sponsored Videos: A Visual Revolution in Online Shopping
Sponsored Videos are designed to captivate customer attention through visual storytelling, leveraging sight, sound, and motion to convey your brand's message effectively. These short, keyword-targeted video ads are strategically placed within relevant Search In-grid results, ensuring that your products stand out when customers are actively searching for items.
What sets Sponsored Videos apart is their ability to create a seamless shopping experience. A simple click on the video takes customers directly to the product page, where they can learn more and make a purchase with ease, thanks to the direct add-to-cart button.
The Role of Sponsored Videos in Full-Funnel Retail Media Strategy
Sponsored Videos are not just another advertising tool; they are a critical component of a full-funnel retail media strategy. Whether used as a standalone strategy or in conjunction with existing Sponsored Brands and Sponsored Products campaigns, they offer brands a unique opportunity to build awareness, improve product discoverability, and engage with customers throughout their shopping journey.
In particular, Sponsored Videos shine during the consideration phase of a customer's shopping journey, influencing decisions and generating traffic to product pages. This makes them a powerful tool for achieving various objectives:
1. Increase Brand Awareness: Sponsored Videos attract potential customers into your marketing funnel by captivating them with sight, sound, and motion. Use them to educate customers about your product benefits, grow market share, and enhance the visibility of new items.
2. Drive Product Consideration: Influence Walmart customers' decisions by showcasing product uses and benefits during the consideration phase of their shopping journey. This can help boost product visibility and engage in-market customers.
3. Grow Conversions: Sponsored Videos place your brand in front of in-market Walmart customers actively searching for products similar to yours. With the add-to-cart button, you can encourage purchases, defend market share, and convert customers more quickly.
Q4 2023: The Perfect Time for Retail Media Strategy
As we approach Q4 2023, it's essential to emphasize the significance of a well-crafted retail media strategy. This period is characterized by increased shopping activity, with customers gearing up for the holiday season. Leveraging Sponsored Videos during this time can be particularly advantageous.
Consider these key points for your Q4 2023 retail media strategy:
1. Seasonal Marketing: Q4 is a prime time for launching seasonal products. Sponsored Videos can help you showcase your seasonal offerings to a wide and engaged audience.
2. Holiday Shopping: With the holiday season approaching, customers are actively searching for gift ideas. Sponsored Videos can highlight your products as ideal gift options.
3. Maximizing Conversions: As customers are more likely to make purchases during Q4, Sponsored Videos can help you maximize conversions by offering an engaging and seamless shopping experience.
4. Competitive Advantage* By incorporating Sponsored Videos into your Q4 strategy, you can gain a competitive edge by effectively reaching and engaging with customers during this crucial shopping season.
To get started with Sponsored Videos, Walmart has made it accessible to all suppliers and Marketplace sellers who are brand owners registered with the Walmart Brand Portal. You can easily upload your 16:9 videos and manage campaigns through the Walmart Ad Center, giving you control over your advertising strategy.
Sponsored Videos are a game-changer in the world of online shopping and advertising, and they couldn't have come at a better time. As we approach Q4 2023, it's an excellent opportunity for brands to leverage this innovative advertising solution to elevate their presence and engage with customers like never before. Don't miss out on the chance to make your brand stand out this holiday season and beyond. Reach out today to learn more about how Sponsored Videos can transform your retail media strategy.