The advertising world is constantly evolving to include new technologies and strategies that reshape how brands connect with consumers.
One advertising approach that’s gained popularity over the years is the rise of Retail Media Networks (RMNs). RMNs, when executed effectively, help retailers and advertisers reach target audiences, increase visibility, and drive sales through omnichannel marketing solutions. More than just a final touchpoint, they offer useful opportunities to help brands reach and engage shoppers across the entire journey.
We recently spoke with Talia Arnold, Managing Director at Exverus Media, to discuss why more retailers should take a full-funnel approach to their RMN strategy.
What exactly are omnichannel Retail Media Networks?
Omnichannel RMNs are a dynamic form of advertising that uses different channels to reach consumers across multiple touchpoints, leveraging platforms like e-commerce sites, social media, apps, CTV, OOH, and more.
While they’ve traditionally operated within digital retail environments, RMNs are now diversifying to include offline channels like OOH to catch consumer attention in-store. This simultaneous exposure in both online and offline environments amplifies brand visibility, reinforces messaging, and fosters a more holistic brand experience.
What does a good media mix look like when incorporating retail media?
Crafting an effective media mix within retail media is really dependent on the campaign’s objectives. Some tactics make more sense for an awareness campaign, while others are better suited for sales-focused campaigns. With e-commerce campaigns, for example, it’s ideal to have a strong search presence. Brands and advertisers should always try to maximize exposure through their sponsored search campaigns first before tapping into other tactics. Sponsored search typically has the highest return and can also drive awareness by helping your product show in the top search results when consumers are browsing the category and preparing to make a purchase.
OOH advertising can fit within a retail media strategy by extending the brand’s reach beyond online platforms. For instance, an awareness campaign utilizing RMNs might leverage digital ads on e-commerce sites to reach consumers shopping online while simultaneously positioning OOH ads in proximity to retail locations. This would further reinforce the brand message and create increased exposure among potential customers beyond their digital screens.
Your article Retail Media: A Full-Funnel Marketing Strategy discusses using first-person buyer data from retail media networks to create personalized messaging. How can brands effectively use this data for marketing purposes?
First-person buyer data sourced from RMNs presents a big opportunity for marketers looking to craft personalized and targeted campaigns.
What makes first-party retail data so powerful is that it’s very accurate and proprietary to each specific retail chain, offering insights into consumers’ purchasing behaviors, preferences, and browsing patterns within a particular retail ecosystem. A primary benefit is that this data can be used across various channels like digital display, CTV, social media, and DOOH, allowing marketers to deliver hyper-personalized offerings via online and email campaigns, loyalty programs, in-store offers, and more.
To tap into this data, you would typically need to work with our retail-specific reps. Your campaigns can be run via a managed service (which is a bit pricey) or programmatically if you have a team in place. Teams can tap into retail first-party data via PMPs or PGs, but if you are looking to utilize Amazon or Walmart data, you will need to have specific DSP seats.
The article suggests applying concepts from digital marketing to retail media networks. Can you provide examples of how digital marketing concepts and strategies can be adapted in retail media marketing?
As the article says, it’s time to start thinking of retail media as omnifunnel, which involves recognizing the potential to guide consumers through various stages of their buying journey, seamlessly integrating different touchpoints to drive conversions while reinforcing brand recall.
We can drive awareness of a brand by targeting retail first-party category shoppers and then drive consideration by retargeting them via social media or through a display ad online. From those ads, we can direct them right to the site where our product is sold. If consumers haven’t made a purchase by this point, then upon returning to the site, we can target them via on-site ads or sponsored placement ads until they finally make a conversion.
Each stage of the omnifunnel strategy generates valuable data about consumer behavior and preferences, which can be analyzed to tailor marketing strategies and thereby maximize ROI.
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