The frequency of shoppable media -- ads placed in media offering consumers the ability to purchase a product or service directly -- is deemed to still be in the "trial" phase of major marketers, but is projected to accelerate in 2023, according to findings of a new study released this morning by the World Federation of Advertisers (WFA) and Dentsu International.
The report, "Developing a Successful Strategy for Global eCommerce and Marketing," is based on the findings of a survey of 42 WFA members conducted in the second half of 2021, and projects the frequency of shoppable media will jump to "always" or "most of the time" as part of an overall push to accelerate ecommerce strategies and campaigns.
"Shoppable media remains a tactic in pilot for most, with significant room for growth into 2022," the report finds, adding: "The trend to making traditional ‘push’ online ad formats more ‘shoppable’ in order to increase immediate conversion within the ad format or media owner app itself, is one that has been growing at speed in the past 12-24 months."
The report cites increases in the supply of new interactive commerce advertising formats encouraging consumer to "buy now," or "ad to basket" in real-time.
"For example, YouTube’s ‘True View for Action’ video ad format, or Facebook’s ‘Commerce Manager’, or Snap’s ‘Dynamic Ad Solution’, where brands can turn business profiles into fully fledged online storefronts," are cited as recent examples.
"This research finds that organizations are still in trial mode," the report concludes, noting: "All respondents have tried shoppable media, and whilst 75% of developing organizations said they ‘rarely use’ it, this drops to just 20% for mature organizations. We expect more brands to adopt this mechanic and, looking ahead to 2023, the % saying ‘rarely use’ drops to just 9%. An increase in collaboration and integration of creative and media efforts will be required to make the most of the opportunity, however."