When it comes to retail media, your ideal scenario as a retailer is to have carefully coordinated retail media packages available for easy purchase by brands across all your channels – and third party channels – that also thoughtfully integrate with, and complement, your own campaigns.
For example, for a retailer-led campaign, you’d have your seasonal campaign, peppered with relevant brands and enticing paid-for advertising and events, across online and in-store (from printed marketing and screens to radio and coupons!) and OOH/DOOH, supported across social media, TV, and other third party channels.
This is perfect for you as a retailer, because retail media advertising blends effortlessly into your own channels while driving revenues with very minimal additional expenditure. Brands pay to enhance your own messaging, reducing cost while improving your online and offline spaces.
It’s perfect for the brands, or other retail media buyers, because their products or services are carefully placed in front of customers along their shopping journey, and at the point of purchase, providing maximum impact and chance of sales.
And equally importantly, it’s perfect for customers, because they see more interesting, engaging and relevant marketing and media at every touchpoint. Retail media helps them to find new products while highlighting value and supporting navigation through hero brands. The result is an overall better experience with both the retailer and the brand.
These are the common challenges in achieving the perfect retail media set-up:
- Retail media is still planned using spreadsheets, limiting its sophistication, its appeal to brands (purchasing isn’t frictionless), and the opportunity to fully exploit every channel
- Retail marketing and retail media are often managed by completely separate teams
- Different Retail Media Network channels are taken care of by different providers
- Most retailers don’t have a comprehensive understanding of the physical inventory across the estate to utilise its potential
Our focus is making everything work collectively, bringing teams together and allowing retailers to offer a unified, cohesive retail media proposition to brands. That’s easy to sell, easy to manage and easy to report on.
What is fundamentally important is setting up the infrastructure to support all of the above from the outset. We’ve seen that smart retailers are focussing on building the foundations of a truly omni-channel, connected retail media offering, before they are ready to offer it in its entirety.
What does a connected retail media set-up look like?
Understanding, capturing and having complete control over their physical (and digital) inventory and having suitable, reliable technology to capture every available sellable space across their estate.
Without the right systems in place to make selling media across the estate frictionless – and being able to easily manage this relatively, or completely, new revenue stream, its true potential can never be reached.
Want to learn more about maximising your in-store retail media potential?