By Dionne Resnik, Ad Tech Partnerships, and Meghan Dettenmayer, Search Analyst
Selecting the right products — or SKUs — to focus your campaign around is hardly a “set-it-and-forget-it" proposition. Not all SKUs are equal, so it's critical to first determine whether your goal is to drive performance and sales; brand awareness and higher impressions; or to grow your SKUs.
Walmart offers a unique set of marketing opportunities, so determining this goal will not only help you reach, but connect with our customers in meaningful ways that elevate your business and brand reputation. The following was created to help you identify your sponsored product campaign objective and then select the right SKUs to set it up for success.
Performance & sales
With performance and sales, the key metrics you would be focusing your campaign around would be return on ad spend (ROAS) and sales revenue. And it’s incredibly important to take into account that not every SKU is offered both in-store and online at an omnichannel retailer like Walmart.
Types of SKUs to focus on: Top selling, high average unit retail (AUR), and most profitable.
Brand awareness & higher impressions
This category is all about getting as many eyeballs on your products and brand as possible — which is especially important for large brands with a high volume of SKUs. You want your brand to be front and center through a customer’s entire Walmart journey, so the metrics your campaign is focused on are impressions, clicks, and ad spend. It's an opportunity to capture new customers who aren't already brand loyal.
Types of SKUs to focus on: All SKUs within your brand portfolio.
Growth of SKUs
This one requires the most patience and staying power, but growing SKUs can be an essential investment for brands looking to build a rock-solid foundation for success and even reap organic benefits. If your SKUs lack reviews and online ratings, this is where you want to play. With so much competition out there, it’s all about getting customers to interact with your SKUs and being in it for the long haul, so key metrics include clicks, units sold, and conversion rate.
Types of SKUs to focus on: New SKUs to Walmart.com and SKUs with low performance.
When it comes to selecting the right SKUs to advertise, don't take a “set-it-and-forget-it"” approach. As more competition continues to enter the marketplace, it’s more important than ever to continually optimize and support a long-term advertising strategy. Walmart Connect is here to help you make the most of your campaigns. Start your next campaign today!