Share of wallet represents how much a consumer regularly spends on your brand as opposed to competitor brands. Capturing a greater share of wallet involves successfully driving awareness, trial, and repeat purchases through retail ecommerce. Follow these best practices to increase your brand’s overall share of wallet.
Generating Awareness Using Retail Ecommerce
Generating awareness helps brands inform shoppers of retail locations and take advantage of the halo effect. Through awareness, brands expand their digital consumer base by leveraging retailer brand loyalty and ecommerce capabilities.
1. Fully capture your brand.com shoppers while creating a halo effect. Real-time inventory scanning ensures your customers know where they can find your products on their next shopping trip, whether it be via the digital shelf or at a brick-and-mortar location.
2. Make all of your content shoppable. Enabling shoppability on both organic and paid social content increases availability awareness for shoppers. Include links to your store locator on organic social posts, in comments to followers, as part of your linktree in social bios, within recipe blogs, as a link in influencer/creator content, and any other opportunity to make every potential shopper aware of where (and how) they can purchase your products.
3. Run reach and awareness campaigns. Build lookalike audiences off of your store locator or shoppable PDP page loads and retailer selections. Run awareness-optimized marketing campaigns using retailer selections as the conversion event.
Using data collected with Pear over the first half of an awareness campaign, one partner brand re-optimized creative and audience targeting, leading to over 4x add-to-cart rate to end the campaign
Enabling product purchases through retail ecommerce removes the barriers to entry for new shoppers who may prefer trial before committing to the shipping thresholds associated with direct-to-consumer orders.
1. Rebate. Capture new customers by buying a shopper’s first product using rebates on shoppable landing pages. Once they’ve purchased, add them to your newsletter and deliver educational content that familiarizes them with your brand and other products.
One Fortune 50 company launched a new personal care product and used Pear’s rebate options mid-campaign to increase add to carts by 300%
2. Retarget. Build audiences of everyone who added your products to cart without purchasing and retarget with coupons or discounts for their first purchase, incentivizing new customers.
Pear has seen 8x add-to-cart rate when optimizing for add-to-carts over awareness or reach
The retail channel is also highly valuable for launching new products to market. Leveraging digital marketing and ecommerce helps brands unlock rapid testing and learnings to inform future data-driven decision making.
1. Optimize for action. Use the insights returned on your Pear dashboard to run campaigns that are already optimized for Retailer Visits around new product launches or new retailer partnerships.
2. Drive sales velocity at specific retailers. Once retail ecommerce is enabled for a brand, opportunities to drive sales at specific retailers and strengthen retailer partnerships become available. Using a combination of shoppable single-retailer landing pages and direct to cart links maximizes add-to-carts at preferred retailers. Data and insights built up across these shoppable campaigns can then be used for retargeting and building lookalike audiences, driving additional sales at targeted retailers.
Using the data and insights provided through Pear helps brands strategically drive repeat purchases through targeted media campaigns.
Once a brand has a sufficient audience pool of Impressions, Retailer Visits, Add-to-Carts, and Purchases, DTC-level performance marketing tactics for retail are unlocked.
1. Use Pear’s add-to-cart and purchaser audiences to drive down-funnel paid social and paid search activity. By adding all ad network pixels to all Pear-powered experiences, audiences can be built and then retargeted on the ideal media platform for any subsequent campaign to generate the highest return.
One brand captured the following with Pear:
Optimization and Informed Decision-Making
- 17x ATC rate retargeting Reach/Awareness audience
- 2x ATC rate compared to 3P custom audiences
Performance of Pear’s Audiences
- Pear audiences performed 3x better on purchases than 3P purchased audiences
- Pear audiences had 12x better purchase rate vs. Reach/Awareness audiences alone
2. Integrate with any ad network and leverage their automatic optimizations for free improvements. By adding your ad network pixels to all shoppable tools, Pear’s technology will automatically make your ads better by firing pixel events back to the ad networks for each step of the funnel (with zero additional work by your brand).
Facebook optimizations use machine learning to improve each ad’s performance automatically by 7-10x
If your brand is looking to increase share of wallet by enabling retail ecommerce, get in touch with our team →
Five years ago, retail ecommerce didn’t exist. Today, supporting the channel is table stakes for consumer packaged goods brands.
This playbook is designed to guide CPG brands from the stages of awareness to purchase at retail. Whether you’re interested in retail ecommerce as a new channel opportunity or looking to level up existing efforts, The Retail Ecommerce Playbook covers tools, tips, and examples to help your brand succeed.