As we all know, 2020 has been an exceptionally strange year: After the coronavirus pandemic hit the U.S., marketers across all industries had to quickly pivot and revise strategies to reach consumers who were largely staying at home. But one industry that was already equipped for this situation was food delivery, and many of these services have seen year-over-year increases in TV ad impressions.
We put together a report examining business outcomes for food delivery brands to help craft TV advertising strategies going forward. It has performance insights and key recommendations to inform your decisions, with a focus on lift measurement* and conversion rates across three time periods: Q4 2019 (the last “normal” quarter before the coronavirus hit), Q3 2020 and October 2020.
- In Q4 2019, food delivery brands had an average lift of 32.45% and an average conversion rate of 0.260%. Various niche cable networks dominated the top ten for lift, while multiple broadcast networks were in the top ten for conversion rates.
- In Q3 2020, food delivery brands had an average lift of 31.87% and an average conversion rate of 0.377%. While niche cable and Spanish-language networks led for lift, three broadcast networks made the top ten ranking for conversion rates.
- In October 2020, food delivery brands had an average of 33.90% lift and an average conversion rate of 0.254%. Once again, cable networks dominated for lift performance, but multiple broadcast networks delivered top conversion rates.
Why It Matters
Consumers are constantly bombarded by advertising to the point that determining the impact of one ad versus another has become incredibly complex. For most brands, TV is the biggest investment in the media mix, so quantifying the value is critical. But with all the noise, how can you give TV ads the credit they deserve? That’s where lift analysis comes in.
*Lift measurements estimate the causal impact of TV advertising on consumer behavior and help quantify the business value driven by TV advertising. The relative comparison of lift estimates (e.g., across networks), tells us where advertising is more or less effective.
This free report shares insight on which networks performed well for the food delivery industry last holiday season, as well as which ones are delivering results in recent months.