How to reimagine retail strategy on Social in 2023

At this moment two massive trends are colliding: growth in digital media and shifting to a mobile-first decision. In fact, mobile devices account for 71% of retail traffic.

So if you are not using Paid Social to sell your products, you are already falling behind. Due to the inflation, we’re all faced with, this is the worst time ever not to keep up with the fierce competition.

If you are looking for an efficient way to grow your business, and scale your revenue, without scaling your team, we have just the right strategy for you to follow.

Digital transformation has changed shoppers' demands forever

Shoppers all around the globe are used to having all the information at only one click away. Numbers say that 65% of shoppers use resale services and that around 30% of them use subscription services on weekly bases.

The opportunity for retailers lays in grabbing this digital transformation and using it for making as personalized offers as possible. This needs to be done because these days expectations are higher than ever: brands have less than 1.7 seconds to grab the attention of their customers.

Having in mind that the cost to deliver personalized offers is higher than ever, executing the right digital strategy is the breakthrough you’ve been looking for.

That means digitizing print catalogs, creating better online shopper experiences, and being efficient and up-to-date with creating personalized promotions via advertising on Social.

How-to-execute-an-efficient-retail-strategy-for-growth-in-2023-statsUnlock the potential of data-driven personalized catalogs

In order to grab the attention of your potential shoppers every ad needs to be:

  • Dynamic
  • Real-time
  • Personalized

This can be achieved by leveraging data-driven personalized and contextual catalogs.

Use 1st and 3rd party data to prepare engaging and personalized creatives that will resonate with your potential shoppers. This will give you the opportunity to advertise thousands of different offers and locations each day.

Here are some playbooks that explain further how retailers can benefit from personalized and contextual advertising.

Hyper-localized app launch

Global launches enable advertisers to render 1000s of video and image creatives and deliver ads using local language, copy, or codes.

To deliver hyper-targeted campaigns advertisers must combat two challenges: creative production and workflow automation.

gorillas-landing-assetHyper-localized ads for different cities.

Leveraging the Hunch platform advertisers can easily automate the entire process of creative production and optimize their workflow - which means thousands of ads in no time.

Try local communication

Use the power of automation to communicate weekly product promotions by the market in real-time.
Information about price changes and special offers can be automatically added to dynamic video or image and localized per each local store.

The other way to use local communication is to promote the brand instead of local stores. This is especially important when you need to bring a national brand to the local market.

A great example of this strategy is Ametller - they optimized online promotions with a video campaign focused on user activation through:

  • Language localization
  • Demographic target groups
  • Weekly promotion ads
  • Express delivery in certain postal codes

 

HubSpot Video

 

Use video campaigns to increase user activation. 

The results were: a 58% ROAS uplift, a 30% drop in CPA, as well as better conversion rates. Most importantly, the campaign garnered a huge number of purchases.

Create loyalty-driven digital circulars

Replace print with digital circulars and personalize ads for Facebook, Instagram, Tiktok, and Snapchat. Hunch’s Digital Circulars help retailers automatically create campaigns for hyper-localized weekly deals.

HubSpot Video

Effortlessly communicate your weekly offers. 

Easily customize prices and promotions for each store location by uploading a weekly offers feed or data source on your account. Any updates made in the feed will automatically reflect on Social ads.

Use weather data to personalize your shoppers’ experience

Don’t be just another brand that says: hey, we got a discount. Try personalizing potential shoppers’ experiences as much as possible.

Use weather data for Paid Social to promote product sets adjusted for the current season. Summer is the best time to advertise SPF protection, swimsuits, or tropical fruits. Using dynamic video templates for seasonal collections will increase conversions, and make your CTR higher.

image-consumer-goods-walgreens-1Advertise seasonal products using weather-based ads. 

Another way to spark curiosity and increase product purchases with weather ads is adapting the discount to the outside temperature - as the temperature increases so does the discount.

Leverage nifty technology to skyrocket your strategy’s success

How-to-execute-an-efficient-retail-strategy-for-growth-in-2023-1200x500
Ad personalization on Paid Social will skyrocket your revenue, but it will cost you a fortune.
Not with Hunch.

Leveraging Hunch’s technology is the most effective way to have it all at once place. The platform lets you create product sets, upload product data that you will use for creative personalization, and produce relevant video and image creatives automatically, and launch the campaign on any social media platform.

This is just the right solution for scaling a retail business without scaling the whole team.

Jump on a call and discover how Hunch can help you make your next breakthrough!