MyPixel chases the customer around the web
From the HGO Merchandiser
Online digital advertising has grown into a global marketplace with an estimated value of $230 billion. It has been best harnessed mainly by those with the deepest pockets. While a wide range of businesses can buy ad space on any given web site, large advertisers – usually corporate giants with vast resources – and their marketing agencies usually lock down the latest cutting edge technologies and techniques before any one is really aware of its availability. Digital marketing was one of those techniques but thanks to a relatively small and unknown disruptor based in Montreal, there’s an opportunity for small and mid-sized retailers to get it on the action.
Programmatic digital advertising has become both the standard and the emerging trend of online marketing. Typically requiring in-house specialists or third-party firms dedicated to its successful implementation, the costs associated with programmatic advertising often fall beyond what a significant portion of Canadian retailers – particularly family-owned independents – can afford.
Advertising exchange District M believes it has found a way to bring small and medium-sized businesses – including independent furniture, mattress and major appliance retailers – to the digital marketing table by creating MyPixel, a platform they say delivers an entry point into this technically complex marketplace.
Five years of facilitating digital advertising exchanges helped District M realise the need to streamline the process and create a level of affordability to even the playing field – one that would allow independent and smaller businesses access to these resources. They understood many don’t have the resources to learn such a technical speciality, so they put their expertise into creating the MyPixel platform. The plan is to bring all the complexities of advertising exchanges and real-time bidding into one place and then deliver them in a platform anybody can use. It’s simple as signing up and creating a campaign.
District M’s chief marketing officer Adrian Pike explains programmatic advertising, it “typically means that we can tie up advertisers...with web sites and based on information we’ve captured about the viewers of that web site we can display ads that are relevant to them.”
This gives retailers the unique ability to use their online stores to increase traffic, promote return visits, and reinforce brand awareness through a process called retargeting. To put it quite simply, when the visiting consumer leaves the retailer’s web site, advertisements that encourage re-engagement go with them, using the visiting consumer’s geographical location to provide relevant content.
“You want to retarget people who have visited your web site with adverts for your store,” Price explains, “as simple as that, so when they’ve been to your web site, you can then retarget them with offers, campaigns, and even brand association. Adverts that sort of follow them around and when they see it, they’ll see your brand in the corner with, you know, an image and a contraction to take them to your web site or to a conversion page.”
The true selling point of a retargeting campaign using programmatic digital advertising tools is one with relevance for businesses of all sizes: the efficient use of marketing dollars. The goals of a retargeting campaign is to increase the amount of re-engagement – that is, the number of return visits – by the visiting consumer and build the retailer’s brand recognition. With repeat exposure, the probability that the visitor will become a buyer increases. The longer the retailer is able to maintain an online presence and engage with higher levels of traffic, a profile of likely buyers can be created. Over time, using the data retargeting data collection, campaigns can be fine-tined to find those consumers most likely to shop either in the retailer’s brick and mortar store or on his web site. This also helps the retailer get the most out of his advertising budget.