Author’s Blurb: I’m not fond of ads because more often than not, I tend to come across poorly made ones that hinder my usage of a site. Those experiences are what make me use ad blockers whenever possible.
Ads can be a double edged sword for brands—you either come up with one so good it gets someone immediately interested, or it’s so bad it gives your brand an unsavoury reputation.
Innity, a Malaysian startup that’s made it their business to create innovative marketing solutions for brands, has now taken their ad game to a whole new level.
Introducing: shoppable ads. To describe it very simply, they’re ads that let you directly add the products you see in them into your shopping cart on the brand’s site, allowing you to complete the purchase immediately.
“Shoppable ads were created to help brands and retailers shorten the user’s purchase journey and promote their products in a seamless user experience that encourages sales,” Phang Chee Leong, CEO and co-founder of Innity summarised for Vulcan Post.
Win-Win Situation For Both Parties
Going a little deeper into the logic of how it works, Innity’s shoppable ads bring consumers from awareness directly to action (purchasing), which would mean improved sales revenue in theory.
“Shortening the purchase journey reduces the chance of consumers dropping off midway in the conversion funnel. This increase in efficiency will drive ROI and keep customers coming back for more,” Phang explained.
Of course, this would only work if the ads shown are of interest to the consumer it’s targeting, so Innity ensures that its shoppable ads remain dynamic so as to show consumers only ads that are relevant to their needs and preferences.
Phang also described how the ads communicate a product focused yet “soft and relaxed” brand environment, so that consumers don’t feel interrupted or scared off with a hard-sell approach.
Compare this to what e-commerce websites usually look like, full of clutter that can overwhelm and confuse consumers with product selections.
Nowadays, with ads everywhere we look, this strategy has become all the more important. “Research shows that customers are exposed to over 5,000 ads a day, which is why it’s vital for brands to counter banner blindness and drive meaningful and interactive engagements with their customers,” Phang stated.
An Above-Average Conversion Rate
Currently, Innity has over 20 (and counting) high-impact ad formats that have been embedded with the shoppable feature.
Among some clients already using them are Lazmall, Nike, Heineken, Uniqlo, and more. However, these shoppable ads aren’t just limited to larger brands.
“It’s relatively easy to come onboard, especially for SMEs,” Phang said, adding, “There’s no need for an advertiser to have an existing landing page—our team can build it for them. All they need to do is supply us with their product listing feed.”
Having seen them myself, I have to say the shoppable ads impress. Looking good is only one part of it though, as converting viewers to buyers is the most important point.
In 2020, it was found that the average conversion rate of e-commerce websites is about 2.86%. Phang shared that the average conversion rate of their shoppable ads is already at 10% on their network.
Compared to the global average, it seems generally agreed upon that a conversion rate of 10% or higher is pretty good. This proves that Innity’s shoppable ads have had direct impact on converting clicks into purchases.
Staying One Step Ahead In The Ad Game
With the trend of online shopping already steadily growing over the years and the pandemic further accelerating the digital retail shift, Innity’s shoppable ads have come at an ideal time.
“Rolling out our shoppable ads was only a matter of time, and a move to help brands get ahead of competitors in the e-commerce game,” Phang said.
“Consumers have become more comfortable and adept in online shopping, and have since expected their online shopping experience to be frictionless and seamless.”
And that, exactly, is what Innity is offering with this new solution. What’s more, they’re planning to take it even further.
“We will be incorporating augmented reality (AR) components to expand beyond the present capability so that users can experience products virtually, ingrain extraordinary moments for a brand to reach potential customers, and to get customers thinking about the brand and products when they’re close to making a purchase decision.”
“Through this, we will help differentiate a brand and expand the reach of their shopping campaigns beyond product shopping ads,” Phang concluded.
Bottom Line: I can see shoppable ads being ones that may finally work on me, especially if it’s for a product I’m already very interested in. However, non-impulsive shoppers like me would probably still be tough to convert, and therefore aren’t the target audience for shoppable ads anyway.
- You can learn more about Innity here.
- You can read our previous coverage on advertising and marketing here.
How Microsoft’s Portfolio Of Cloud Solutions Can Play A Role In Growing Resilient Businesses
Featured Image Credit: Innity
The post This M’sian Team Created Ads That Let Users Browse & Buy Products Through The Ad Itself appeared first on Vulcan Post.