Social Media to Boost Order Value in Purchase Path
Marketers are busy studying their analytics to determine which online ad formats are delivering the best results. Are search and display still the gold standard or is social media more valuable? Columbus, OH-based ClearSaleing published findings on its analysis of 56 billion ad impressions and the company has some specific recommendations for online marketers.
When a marketer combines social media with another channel, such as display, higher order values result. As a prospective buyer moves down the Purchase Path, from display to social media – for example — the average order size increases to $280. Researchers say the specific increase in the order value when social media is involved amounts to about $5.24.
ClearSaleing also says that “all display is not created equal”. Marketers who choose their publishing partners wisely will be rewarded with higher quality customer relationships. This means paying for ads on premium publisher sites. As online consumers interact with various content sites, advertising interactions vary widely with respect to the start of a purchase path:
- Premium publisher sites 8.4%
- Ad networks 3.62%
- Demand-side platforms 1.58%
And then, there’s search. Natural search drives consumers to place orders that average about $100 each while the comparable numbers for paid search are closer to $150. But ClearSaleing analysts emphasize that marketers should focus on “the more visually- and emotionally-connected channels, such as display and social media” as they construct their online advertising models. Their data shows that the presence of the social and display channels in the purchase path improves customer relationships and increases order value.[Source: A Guide to Market Leadership in 2012. ClearSaleing.com. 9 Feb. 2012. Web. 20 Feb. 2012]
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