One of the most recognised and valuable brands in the world, Coca-Cola has always focussed on innovation, even when it comes to advertising. While upper-funnel campaigns have dominated its marketing campaigns, the brand needed a more impactful way to reach its audiences – a first-to-market innovative retail data solution on The Trade Desk.
LEVERAGING STRONG BRAND AWARENESS WITH A LOWER-FUNNEL CAMPAIGN
Though Coca-Cola is one of the most recognised and valuable brands in the world, the company never takes that for granted – it’s always seeking innovative ways to bolster brand awareness.
Upper-funnel campaigns have dominated the beverage giant’s marketing initiatives, but the company decided to try its first-ever lower-funnel campaign on The Trade Desk in Singapore.
Coca-Cola’s goals were to drive more sales and accurately measure those results. That’s why the team decided to try The Trade Desk’s retail data solution in partnership with FairPrice Group. With more than 570 stores and a reach that touches
over 90% of Singaporean households, FairPrice Group is the city-state’s largest supermarket chain. The partnership marks the
grocery giant’s first retail data partnership on a demand-side platform – one that empowers brands to execute end-to-end
campaigns – to precisely reach and target FairPrice customers’ segments on some of the fastest-growing digital channels, such
as over-the-top, audio, digital out-of-home, and websites on the open internet. It also offers the capability to measure campaign
impact on online and offline sales, providing a comprehensive understanding of the campaign’s success.
MEASURING SALES AND OPTIMISING CAMPAIGN PERFORMANCE WITH AUDIENCE INSIGHTS ON THE FLY
Working with its agency, EssenceMediacom, Coca-Cola started a retail-data-driven campaign targeting Singapore that would run through the 2022 to 2023 festive Lunar New Year period.
The campaign team tapped in to FairPrice’s audience segments via The Trade Desk’s platform, targeting FairPrice customers who had purchased Coca-Cola or the company’s other products over the past one to three months.
As customers clicked on Coca-Cola’s programmatic display ads and made online or in-store purchases via FairPrice’s website or app, the conversion was recorded on The Trade Desk’s platform.
Sales conversion data flowed into the platform daily, enabling the team to measure and track the campaign’s effectiveness in near real time across different strategies, devices, ads, audiences, and products.
Detailed metrics helped the team make informed optimisations on the fly during the campaign. For example, they were able to target custom audiences which FairPrice built based on seasonal shoppers who purchased festive products. The team also identified news and lifestyle channels that delivered the best results – and they used cross-device targeting to reach users across multiple touchpoints to further optimise ad spend.
INCREASING CONVERSIONS AND UPLIFT IN SALES
For the first time, Coca-Cola was able to measure their campaign’s impact on in-store and online sales. The company’s marketing team and EssenceMediacom were very satisfied with the results – especially with the 189% uplift in sales during the campaign. The campaign also achieved an impressive average conversion time of 12 hours, from initial ad exposure to making a purchase.
In addition, marketing team members were impressed by the deep insights gained from the campaign with this retail data solution: audience engagement metrics for the sites and apps used in the campaign, the cart values of first-time and repeat buyers, and the conversion times of different strategies and creatives.
These insights will help inform Coca-Cola’s targeting strategies for future campaigns. The company is keen to explore similar retail data solutions from The Trade Desk across Southeast Asia.
‘The insights and level of detail we gained with The Trade Desk–FairPrice retail data solution opened our eyes to what’s possible on a programmatic platform when partnering with a retailer. It’s a powerful way to leverage our strong brand awareness and tie advertising investment to business outcomes.’
Paul Sim
Digital Platforms Lead, The Coca-Cola Company