Online grocery is a competitive space within India’s e-commerce market, which is forecasted to expand by 30 percent a year by 2026 to $200 billion, according to Business Insider Today. Grofers remains one of the leading eCommerce players in the FMCG industry, contributing to the 30% growth of eGrocery.
Grofers is a grocery delivery service provider, which is growing at a proliferating rate with more than 1 million purchases happening every month and 25 million+ product searches, as reported by Grofers internal report. Just imagine what it would be like if you could reach over one million customers and convert them into loyal buyers. Each month! It sounds like a delight, doesn’t it, but Grofers Ads can help you connect with a wide customer base. The platform is designed specifically for brands wanting to reach out to their customers.
Grofers also commemorates its first year of ‘SearchSenze,’ a search bidding platform.
This blog will give you a brief overview of how to get started with Grofers Ads through its SearchSenze platform.
Grofers Ads are a win-win for both the advertiser and the customer. For advertisers, they lead to high ROI by helping them achieve their goal of maximum sales in a minimum time period. At the same time, Grofers Ads helps customers find what they are looking for at the right price and place.
Before we dive into details about the workings of Grofers Ads, here is a brief video on how search bidding works:
Link to log-in: https://brands.grofers.com/
Let’s examine the different types of Grofers Ads:
Sponsored Product Ads
Grofers Sponsored Product ads allow businesses to advertise their desired products and reach out to the right customers. They are similar to Google’s shopping & pay-per-view ads and help businesses advertise their products within a specific category, targeting relevant customers in an ad format that is not intrusive.
Grofers have an impressive feature. I.e., if a brand’s primary product runs out of stock, you can set up as many backup products to display them in your ads.
Sponsored Brand Ads
Grofers Sponsored Brands Ads let brands promote their portfolio of products in a single carousel format. The platform helps you seamlessly reach Grofers shoppers and drive targeted brand awareness, product discovery, and purchase intent throughout the customer journey.
This unique carousel (also known as a collection) format of these ads enables the brand to showcase multiple products in one place while also displaying products from its parent company, and users can click on ‘See All’ to explore all products in detail.
Additionally, you can promote your products across multiple categories with PLP pages.
Brands can create customized creatives with attractive messaging of up to 30 characters and can also create a GIF along with their logo to attract customers to visit their page.
Note: In the event that a brand’s primary product runs out of stock, it can also instantly place an ‘n’ number of backup products, the same as Sponsored Product Ads.
Grofers Search Display Banner Ads
Grofers search display banner ads allow brands to cross-merchandise their products with other affinity keywords. For example, if you want to display your mustard oil ad on search and keywords like “brand name,” “mustard,” “oil,” etc., then you can do so by buying this product.
How to bid for your Ads placement on Grofers?
Bidding on Grofers Ads, the SearchSenze platform is auction-based, which means that the ads are placed for bidding, and the highest winning bidder’s ads will get the ad placement on the Grofers app.
- Spend is calculated by the CPI (Cost per Impressions) each time your ad is displayed.
- In addition to bidding on pre-defined category keywords for the brand, you can request Grofers to add high search volume category keywords relevant to the category. Grofers will also share the search volume of the past 15 days with the clients.
- Grofers can help you select the products by mutual agreement with the brand.
- Whenever you place a bid, you will see the second-highest bid if someone else has bid on the keyword. Based on this number, you can see how close/far you are from winning the keyword.
- A winning bid will get the slot for 15 consecutive days of the campaign. (Campaign slots-1st to 15th, 16th to 30th of the month). Only the winner will be able to get visibility in the campaign.
- By displaying the estimated billing amounts associated with your keyword bids for sponsored products, brands, and search display banner ads, Grofers allows you to keep track of your monthly spending and maintain an optimal budget.
Analyze various metrics to assess campaign performance
Grofers helps brands optimize their campaigns to increase ROI. They offer a comprehensive performance report that allows brands to use a set of metrics like click-through rate (CTR), conversion rate, and impression rate to enable brands to make an informed decision about reallocating budget or optimizing campaigns.
Grofers attribution model revised with more insights
Let’s understand what the attribution model is. The goal is to determine how an asset (media) performs.
For instance, if you promoted a product with a keyword, you may want to see its effect on sales. In this new model, you can analyze campaign performance with more in-depth insights.
The advantage of this model is that all campaign details are examined in-depth in this model, which measures brand performance based on boosted keywords.
Here is an example of how you will receive a report as per the attribution model:
Paxcom’s contribution to brands’ success on Grofers
Paxcom can be that one-stop partner for your business goals. Our eCommerce experts will tailor and create a data-backed strategy with the help of an in-house channel intelligence tool, Kinator, to deploy efficient campaigns and track results.
Our experts can assist you with the following aspects in regard to your Grofers Ads:
- Our services include managing all your advertising campaigns and bidding processes in order to maximize your budget.
- Planning, executing, analyzing, and optimizing visibility campaigns in accordance with your set brand’s objectives.
- Media Buying for brands across channels to ensure maximum ROI.
- Our designers will assist in creating custom ad banners that increase your click-through rate.
If you would like to know the ins and outs of Grofers Ads in more detail, you can connect with our experts at firstname.lastname@example.org.