The Size Of
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Sponsored Product Advertising
Citrus are changing the landscape of digital advertising for suppliers across the globe.
Myer have teamed up with Citrus to allow our suppliers the unprecedented ability to target customers and position their products in the top highest selling positions of Myer category and search term pages. In real time impressions, clicks and sales are reported back to suppliers to provide a crystal clear ROI and performance levels of your SKU's.
There is no more effective way to invest your digital marketing dollars than right at the digital point of purchase and we are excited to offer this new digital advertising tool to our suppliers.
We invite you to take advantage of this opportunity, a promotional video has been created for suppliers and can be viewed here: https://youtu.be/1oVDmrfep9o
Product Advertising Works
Suppliers will be able to elevate individual products to the top of the Category, and Search Result pages within the Myer Website. Suppliers use the Myer Admin Portal to select products, budgets, advertising strategies (customers you’d like to target) and “keywords” that you wish for your products to appear for.
Much like Google Adwords, Facebook and many other online digital ad channels, the Advertising system works via “Cost Per Click” and “Cost per impression” auction. Meaning the more relevant your product and the more you’re willing to pay, the more chance your products have of being shown to a customer. It also means that this is a fully transparent “performance only” ad platform, so you only pay for results.
The Power of Top Position
Sales Increase From Being Sponsored
Average orders of a sponsored product increased 94% from the month prior.
Sponsored Products in position 1 received 3x more clicks than products in position 2 and 3 and 9x more clicks than products in position 5.
1st Row vs 2nd Row
Sponsored Products in the second row were clicked half as much as products in the top row of results.
In The News
“Retail manufacturers spent $2bn in on Amazon in Q1 2018 by paying to have their products listed at the top of search results.”
Why such rapid adoption?
Because for the first time, suppliers can influence their online product positioning (and brand awareness) and measure digital ad spend directly against product sales high within the point of purchase.
The Facts Speak for Themselves
72% of customers prefer to receive promotional content via email. Compared to 17% who prefer social media.
Email marketing drives more conversion than any other marketing channel, including search and social.
A message is 5 times more likely to be seen via email than via Facebook.
How Email Marketing Works
Email remains a cornerstone for online retailer marketing strategies because they simply deliver the best ROI and it’s a platform they use to show off the products they sell - your products. It’s hugely important it’s part of your digital marketing mix, because we see the products being displayed in regular retailer emails contributing up to 50% of sales.
Myer has made the process a whole lot easier and cost effective for advertisers, via the Myer Admin Portal you can simply place your bids and upload your artwork straight into the email template spots you wish to be in.
Step 1 - Select your Products
Your products will automatically be loaded into the ad system allowing you to search for your products by name or barcode and add them to your campaign
Step 2 - Select your Budget
You are in full control of your ad spend including how much you’d like to spend per product SKU, per day and the maximum you are prepared to pay to be shown to the customer.
Step 3 - Target your Audience
Further refine your customer targeting by adding “search terms” that match your target audience. This function means your ads will appear when the search term is entered by a customer.
It's Easy to Use
Digital advertising systems can be hard to use and sometimes hard to measure. This system is different. The Myer Ad system lets you create ads in seconds and measure performance in real time. Just start by clicking the green “Create Campaign” button and the help wizard will navigate you through the process from start to finish
You will be able to track in real time:
The number of times your sponsored listing ad has appeared (Impressions) on each page
The number of times your ad is clicked
The number of sales generated from each ad
The top performing search terms
The average cost per click that you are paying
The click through rate of your ad (impressions to clicks)
Individual SKU level reports
Reporting by time period (date range)
Your Exact ROI
Reporting at your Fingertips
Once ads are live, the Myer Reporting Dashboard gives you real time insights to the number of impressions, clicks and sales you have generated as well as other important KPI’s such as ROI, average CPC and CPA.
Does E-Commerce Advertising Increase Sales?
Statistics related to sponsored product growth provide only one part of the overall effect on category sales and the question that arises continually from brands is…
"Would I have gotten those sales anyway?"
The short answer is no. After Citrus analysed the shift in marketshare ownership for a sponsored product vs its (non sponsored) major rivals it became obvious how important top position was on the e-commerce store.
In just one month of advertising, not only was a product able to increase its overall sales by 50% (YoY), but it also acquired more than 5.4% marketshare with its competitors all suffering as a result.
Point of Purchase Advertising
Why waste money advertising where your customers aren’t buying?
Advertising at Myer gets you in front of millions of customers right at the point of purchase. When your potential customers browse the Myer website they are there to buy, unlike when they are using social media and search engine platforms
Premium Shelf Space
It probably won't shock you to hear that the location of your product online is linked directly to sales volumes. For the first time, suppliers can now bid for top page positioning within their respective categories.
The advertising platform also lets suppliers bid for search terms so that you can target particular buyers when they're searching for products like yours.
Manage Individual SKU's
Not only can you bid to appear at the top of search result pages and at the top of your category page, but you can also decide which of your products you’d like to be there. These could be your highest margin products, or products that are on promotion.
SKU level control also helps when people type in your brand name, so you can sort the order in which you want them to see your product range.
Pay Per Click
Citrus is an auction based CPC model meaning it’s instantly familiar and performance based. As part of the ad configuration process, you can set a maximum bid price for an individual SKU, a daily budget and you only pay if the product has been displayed or been clicked on by a customer.
The fact that Citrus allows you to track sales means there’s absolutely no grey area when it comes to you ROI.
Real Time Reporting
Unlike many digital marketing platforms Citrus actually binds every impression and click to a sale giving you real time ROI. Our solution refreshes its database every 60 seconds giving you to the minute accuracy and visibility over every one of you products and campaigns.
You are also able to download any reports via CSV for internal reporting and usage.
Getting Started is easy. Simply head to the website https://myer.citrusad.com and register your company. Once you’ve verified your email you can begin creating ads right away. Getting on-board early means you’ll get a first mover advantage on competing brands an allow you to gain customers at a much lower cost.
When it comes to billing you can either use a credit card online, or pay on 60 day payment terms through Citrus.
If you want more information about the program and what it can do for your brand, please get in touch and we’d be more than happy to take you through how to use the solution.