Optimising Retail Media to Drive Results in 2023: Tips for Success
- Written by Pacvue Team
Forget what you heard; 2022 was yet another strong year of growth for eCommerce brands selling on Amazon. Especially for brands selling during the Cyber 5 holiday period.
Seventeen million more Americans shopped in-store and online during this year’s Cyber 5 period than the year prior, and Pacvue’s 2022 Cyber 5 Cost-per-click (CPC) Report showed a dramatic drop in CPCs for both Sponsored Products and Sponsored Brands ads the entire week.
But that’s the past. How can you wrap up your 2022 holiday season and prep for the year ahead?
This article will provide actionable insights on how brands can build a foundation for long-term growth and aim for success.
Lessons Learned from 2022 Holiday Advertising Trends
The supply chain constraints that plagued the 2021 holiday season have since eased up. However, those challenges were swapped out for the highest inflation costs in decades. Despite rising inflation, 2022 still proved to be another strong year of growth for eCommerce brands, as 196.7 million shoppers flocked in-store and online during 2022 Cyber 5. Cyber Monday alone garnered an impressive $11.3 billion in consumer spending, up 5.8% from last year.
Key takeaways from 2022 you can prioritise in 2023:
- Take Volume Upfront. If sales start surging, take advantage of the situation and invest instead of waiting for another time that may never come.
- Pivot and Learn Quickly. Next year will remain unpredictable, and brands must be able to pivot quickly and be open to throwing plans out the window and starting from scratch.
- Adjust Your Team Structure. Empower people at every level to help teams make changes quickly and reduce the time spent on internal processes needed to implement quick changes.
It is no coincidence that these three lessons are achieved through optimised budget fluidity, which remains one of the best ways to drive results in 2023 (more on that below).
But first, how do brands prepare their ad campaigns for 2023?