Path to Purchase IQ staff asked Bennington a few questions about the business.
Q: You’ve said there has been a shift in brand loyalty among shoppers. Can you expand on that? Is this something that was emerging before the COVID-19 pandemic?
A: This is a trend that was definitely accelerated by the pandemic. As shoppers stocked up on essentials, panic buying and supply chain issues forced some consumers to switch brands or try new products that they wouldn’t normally purchase.
For many, value became more important than brand loyalty as households tried to curb expenses where possible amid a struggling economy. Above all else, convenience became king. Retailers who had existing curbside pickup or delivery logistics in place were able to meet health and safety demands to keep customers happy. All these factors bumped loyalty down in their decision-making process. The good news? Shoppers are getting back to trying new things.
Q: Streaming platforms are so big with consumers these days. What are some general guidelines brand marketers should consider when making their first leap into OTT advertising?
A: First and foremost, the screen you choose should be based on your desired outcome. If you’re looking for brand awareness with a baked-in method to measure impact on driving visits, consider GroundTruth’s CTV/OTT solution. Budgets and flights may vary, but we recommend at least a three-week flight to truly understand the impact to your bottom line.
Q: How does GroundTruth distinguish itself from other companies who focus on location-based marketing?
A: Our products are built on our foundational pillars of scale, performance, and trust. Visitation data fuels everything that we do, building our targeting from the most accurate visitation and intent signals. GroundTruth’s targeting solutions can be customized to fit your needs, layering visitation data, either historical or real-time, with additional signals like weather, first- or third-party data, device and more. The accuracy of our products can be leveraged cross-device from mobile to desktop to CTV/OTT to create a seamless campaign within one platform while measuring impact to visits, both physical and digital.
Q: What can we expect from your Shopper Insights & Measurement Forum session in September?
A: We’ll be diving into the path to purchase, which has more touchpoints than ever before. With more screens and checkout options, coupled with shifting consumer behaviors, tapping into relevant audiences at the right time is key to driving measurable results. GroundTruth will share quick tips on how to cut through the Q4 clutter with location-based marketing across all digital screens. This include mobile, desktop, tablet, and CTV/OTT.