By John Reiss, VP of Business Development at Axonet
Though it started bottom funnel at POS, Retail Media has evolved into upper- and mid-funnel channels like CTV, social, open web, email / loyalty, DOOH, in-store screens, on-premise audio, and beyond. Advertisers can now pick and choose the channel mix that best suits their campaign objectives with test, learn, and optimise capabilities available via self-service or white glove account management (depending on the RMN).
A few quotes from my friend, Eric Brackmann at Koddi:
- “A full-funnel approach is the future of commerce media. I see this trend continuing to gain momentum as commerce media networks build new partnerships with more traditional media players.”
- “Done right, we see commerce media as a way to improve the consumer experience regarding privacy.”
- “Consumers are increasingly aware that companies gather a lot of data from and about them, but they are not necessarily comfortable with some of the companies engaged in data collection and the methods they use. Commerce media seeks to flip that model – to centre on relevancy and transparency with a trusted brand.”
This article on the Econsultancy website is chock full of valuable insights from other Retail Media thought leaders.
Summary of Topics:
- Privacy and measurement
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- Consumer privacy needs to be “non-negotiable”
- Could retail media serve as the solution to privacy woes?
- Loyalty schemes must fully communicate the value exchange on offer
- Growth and scale
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- Full-funnel retail media will unlock new budgets
- Potential for “incredible growth” within social commerce
- Measurement and targeting
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- Advertisers should focus on conversion for now
- A shift towards longer-term KPIs
- Audience planning tools will increase in sophistication
