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As we all know, Q4 is a big time for clients in the ecomm space. Many companies double or even triple paid media budgets to prepare for the increased volume. Being prepared to pour budget into new channels will help expand reach with higher marketing budgets to ensure you are covering all your bases.
In this post, we will look at a number of new channels to test before Q4 and explain some pros/cons to expect along the way.
Audience: The core demographic here is 18-35 with an even split in gender. This is a great platform if you want to reach a younger demographic.
Pros: Relatively few advertisers are utilizing this placement currently, which means lower costs and higher returns on investment. Instagram’s Lookalike and Broad targeting have robust metrics to find the right user who will make a purchase from your brand.
Cons: Creative best practices for Instagram Stories are different from those in the normal Facebook or Instagram feed. This means creative needs to be altered to fit the sizing ratios, which can burden a company’s creative team in making brand-new assets for a single ad format.
Audience: Pinterest skews primarily toward women; 70% of its users are female. Brands tailored to female demographics do well on Pinterest. Pinterest users are categorized as planners, so this is the perfect platform for early holiday prospecting since these users are willing to buy earlier in the season.
Pros: Pinterest has implemented a new conversion campaign type that optimizes your ad targeting to find users who will purchase your product while hitting the cost per acquisition (CPA) goal set forth. In my experience, this smart bidding tool is excellent to reach a client’s goal while scaling efficiently.
Cons: Creative best practices for Pinterest are completely different than those of Facebook and Instagram. More text overlay is encouraged, and the ad format sizes for pins are much larger. As with Instagram Stories, it may be a burden to ask your creative team to produce new ads for a single channel.
Audience: Snapchat’s core demographic is 18-35; like Instagram, it caters to advertisers looking to engage younger demographics. After viewing an ad for the 2nd or 3rd time, these users are relatively likely to end up making a purchase.
Pros: Snapchat has done a complete makeover on its UI; it’s now far more intuitive for advertisers to develop campaigns. In addition, they have made changes to the conversion algorithm to be geared towards people who will purchase. Not many advertisers are utilizing this platform, so CPMs are cheaper compared to other social platforms.
Cons: Most users on Snapchat do not convert until the 2nd or 3rd swipe, which can make it make it difficult for brands that want immediate results from new user acquisition. That said, Snapchat can serve as a significant remarketing tool to get in front of the users until they convert.
If you commit to testing any of these platforms, you’ll find wrinkles (good and bad) that you haven’t seen on Google or Facebook. All the more reason to get comfortable now, set your bidding strategy, and reap the rewards when the holiday season heats up.