This is the final blog in our series on retail media advertising. It provides you with best practices for advertising on Walmart. Missed the other blogs in the series? Read The Rise of Retail Media, Effective Advertising Strategies to Unlock for Retail Media Success, Best Practices for Advertising on Amazon and Best Practices for Advertising on eBay.
Advertising on Walmart
Like Amazon and eBay, Walmart Marketplace has been experiencing tremendous growth in recent years. The US-based retail giant features:
- 100 million unique visitors each month
- $14 billion year-over-year revenue increase in fiscal year 2022
- A focused international business with $101 billion in net sales
As the marketplace continues to attract more shoppers, the company’s retail media business is accelerating, too.
According to one recent analysis, Walmart’s search ad revenues are expected to increase by an astounding 73%. So if you advertise on Walmart, it’s time to prepare for some stiff competition. This means you’ll need some robust tools to connect with consumers on this channel.
That’s where Walmart Connect comes in.
Make the Most of Every Walmart Connect Opportunity
As the company’s media management arm, Walmart Connect provides an array of specialized marketplace advertising tools to help third-party sellers and plans to become a top 10 advertising platform.
Walmart offers many ad solutions, specifically built around your business goals to help you achieve the best results across the marketplace. Let’s take a closer look at these solutions.
Search ads point customers in the right direction through prominent and high-traffic ad placements. The ads show in the search results, on category and browse pages, all related to the customer’s search query. Search ad formats include:
Sponsored Products: Benefiting from prime search results placements, reminders prior to checkout and featured spots on related product pages, Sponsored Products ads help you increase your conversion rate within the marketplace.
Search Brand Amplifier: Placed above the search results, this ad format improves brand recognition and showcases your product portfolio.
Display ads are designed to inspire customers throughout their journey. Walmart Display ads provide premium creatives to the most relevant audience. The ads show across onsite digital properties and offsite across the web and social, and include the following formats:
Display Targeting: Identify your ideal customer segments through Walmart’s proprietary search, browse and purchase data to serve your customers with highly relevant ads according to their wants and needs.
Onsite Display: Increase awareness and consideration across Walmart.com and Walmart app.
Offsite Display: Connect with your customers when they are browsing their favorite websites or spending time on social media.
In-store ads drive awareness and increase conversions when customers are shopping in store through wall and self-checkout ads across 170,000 digital screens in over 4,700 Walmart stores.
The best way to take advantage of all Walmart Connect has to offer is to leverage Walmart Advertiser Partners — an API program created to connect advertisers with approved platforms. These platforms are an ideal choice for brands and retailers that want to maximize their ad spending but have limited time.
Find Help in Maximizing Your Current Walmart Performance
ChannelAdvisor’s Managed Services team can handle the heavy lifting while supporting you in growing your business according to your goals. Acting like an extension of your team, our team combines the strengths of a cutting-edge e-commerce technology with unmatched industry expertise across marketplaces and digital marketing. Contact us today to learn more about how we can help manage your Walmart advertising performance.
Series Conclusion
Having the right retail media strategy in place is the key to unlocking opportunities and driving success for your business in the long run.
Amazon, eBay and Walmart are dominating the space but many other marketplaces are on the rise. In addition, more brands and retailers are allocating their budgets to these retail media programs in the fight for visibility on these channels.
Leading brands are now forced to reassess their advertising programs if they want to compete in this increasingly crowded marketplace world. It’s important for marketers to constantly evaluate their channel strategies and ask important questions, such as:
- Which channels are you advertising on?
- How are you allocating your budget across each channel?
- What are your goals for each channel (e.g., awareness or conversions)?
- Are you testing continuously and making your campaigns better?
If you would like to have a conversation with us about your retail media strategy, we are happy to provide a complimentary analysis with our e-commerce experts. Request an advertising analysis today.
