Jared Luskin, Head of Platform and Media Partnerships at Bridg, shares his expertise on the rise of retail media networks. He discusses innovative ways to target in-store shoppers beyond loyalty programs by leveraging point of sale data. The conversation highlights how platforms like Ripple connect regional grocers to bigger CPG brands, enabling effective marketing strategies. Luskin also delves into the significance of customer identity resolution in enhancing retailer understanding and the necessity for tailored marketing approaches across various scales.
Retail media networks are transforming marketing by enabling retailers to leverage POS data for engaging non-loyalty shoppers effectively.
Collaborative platforms like Ripple allow smaller retailers to compete with larger networks by aggregating resources and targeting unique audiences.
Deep dives
The Rise of Retail Media Networks
Retail media networks have gained significant importance in the marketing landscape, creating new opportunities for brands to connect with consumers. These networks leverage point-of-sale transaction data to identify and engage non-loyalty shoppers, which helps retailers gain insights into a broader customer base. For instance, utilizing platforms like Bridge allows retailers to extract valuable data even from customers who do not participate in loyalty programs, thus enhancing their marketing capabilities. This shift indicates that retailers can now unify their data with the goal of attracting and retaining a diverse array of shoppers.
Ripple: An Aggregator for Regional Retailers
Ripple serves as a coalition of regional grocers and convenience stores, allowing these smaller retailers to compete on a larger scale with established retail media networks. By aggregating their resources and data, Ripple enables marketers to reach unique audiences that would otherwise be challenging to target individually. This collaborative approach not only democratizes access to media assets but also offers significant scale comparable to larger networks like Walmart Connect. The ability to target specific demographics in one coordinated effort presents a compelling value proposition for brands looking to maximize their marketing reach.
Identifying Unknown Customers for Better Marketing Insights
Understanding the composition of shoppers, especially those not enrolled in loyalty programs, is crucial for effective marketing. The use of platforms such as Bridge allows retailers to identify customers behind anonymous transactions, unlocking insights into their shopping behaviors. This capability goes beyond just collecting data; it enables retailers to create targeted marketing campaigns that precisely address the needs of both loyalty and non-loyalty shoppers. Consequently, retailers can better strategize their promotional efforts, ultimately driving sales and customer engagement through more personalized outreach.
Jared Luskin, Head of Platform and Media Partnerships at Bridg, delves into the surging importance of retail media networks. Bridg, a data and audience platform tailored for brick and mortar retailers and CPG partners, addresses the challenge of targeting in-store customers outside loyalty programs using offline resolution capabilities and POS data. Explore how retail media success is powered by Bridg's innovative solutions in this insightful episode. Show Notes