Bangalore: The Advertising Club Bangalore recently held its inaugural edition of the ‘Knowledge Conclave – Driving Growth Through the New Era of Measurement’. C-Suite SME speakers from different spaces of the data-tech world spoke and interacted on some of today’s most important topics.
Sankalp Mehrotra, Senior Director, Monetisation, Flipkart spoke on ‘Commerce Advertising: the next frontier’.
Mehrotra spoke on the power of commerce advertising and how it is growing in scale. Search has become verticalized and this will remain so. For food search people go to food apps, taxi apps for cabs, music apps for music and so on. He said their estimates suggest that 20-30% of product searches in India have migrated to commerce destinations.
Commerce advertising is becoming a disruptive force because of its ability to address consumers with purchase intent. On traditional digital destinations, audience segmentation and targeting can be done by geo/income/ interests/lifestage. Commerce destinations provide customer intent. Customer journeys on commerce destinations like Flipkart are not linear – moving from search to cart to checkout/dropout in different ways. This provides potent segmentation opportunities – both for insights and better ROI.
Most destinations are able to address the first part of the journey – awareness/ consideration. But on commerce platforms brands can straddle the entire customer journey from awareness to consideration to purchase. Mehrotrashared the wide range of advertising solutions on Flipkart. Display& Search advertising are already known. In addition, there are several other ways brands can reach out to consumers addressing awareness, consideration, purchase, retention, or post purchase advocacy. SUPER COINS can be used to reward loyal customers. There are customized solutions for advocacy. Irrespective of which part of the funnel a brand’s challenges lie, solutions are available to address those challenges.
LOOKBOOK – enables brands to let customers view its entire range of products and add the full range to checkout at one go. STORY ADS let brands interact with customers in an extremely engaging way. Within SEARCH apart from product listing ads there are other search options available. VIDEO has started on the platform with all standard video ad options available & combined with massive customer insights to devise a customized video solutions and that is showing a lot of traction.
FLIPSCORE providesweek-on-week update of brand awareness score & consideration score on the platform. So brand health can be mapped weekly not only for itself, but also with respect to category &competition. The customer intent targeting solution can be taken beyond Flipkart’s own platform to partner platform HOTSTAR. All parameters available on Flipkart can be utilized on HotStar.
So whether at the top of the funnel or at the bottom of the funnel, multiple solutions are available for brands with multiple attribution metrics &multiple reportage – and this will deliver better ROI – all of this across the multiple cohorts of the 200 million users that Flipkart has. Commerce advertising is not something that is going to happen in the distant future. It is here and now. And has reached critical mass to build brands at scale.
Sanchayeeta Verma, Chairperson Knowledge Conclave 2019 said, “In our era of connected platforms, big data signals are being generated and data-driven tech are enabling businesses to harness them. The conclave helped understand how to do this and join the dots between the tech world and the world our brands play in”.
“Knowledge Conclave will now be part of our annual program. Watch out for the 2020 edition“ said Advertising Club Bangalore Executive Director, Arvind Kumar.