As talk continues about a potential recession ahead, it is imperative for advertisers discover the most efficient channels where people are buying. In the context of paid social, studies show that people who take longer to convert also spend more money, so including them in your measurement means getting more value out of every dollar you spend.
For Pinterest ads in particular, advertisers large or small on Pinterest are much more likely to receive conversions when they extend their attribution window from 1/1/1 (1/1/1, or 1 day click, 1 days to engage, 1 days to view) to 7/7/7 (7/7/7, or 7 day click, 7 days to engage, 7 days to view).
Studies have shown when people have more time, they buy more.
In times like these, marketers tend to rush to that last-click, bottom-of-the-funnel ROAS quick fix. But, that can be a mistake. You’ll get more value out of every dollar you spend if you account for the converters who take longer spend more money.
Due to the possibility of an upcoming recession, consumer confidence is dropping rapidly.
Marketers must find ways to combat this slowing demand by discovering most efficient channels where people are still spending. Extending your attribution window to account for people who take longer to convert means squeezing more out of every dollar you spend.
When you widen your attribution window, you will maximize ROAS for your media. Roughly 75% of conversions that occur after one week should not be missed. At the very least, examine the 7/7/7 if you are at 1/1/1. You’ll find the sweet spot when your 2022 and 2023 campaigns have a greater overall ROAS and you’re accounting for the big spenders who buy more.
If you’d like help with your paid media strategy, please contact us today. We’re here to help.