Building a Retail Media Business with Google's Shawn McGahee
Feb 15, 2023
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The CPG Guys podcast features Shawn McGahee, Head of Retail Media at Google. They discuss Google's role in retail media partnerships and the importance of connected TV and YouTube. They also explore the levels of maturity and growth opportunities in retail media agencies, highlighting successful partnerships and potential growth areas for 2023.
Leveraging Google search as a reach extension can greatly scale brand presence and drive incremental sales in the retail media industry.
Google offers a range of tech solutions to enhance retailers' retail media offerings, including Google Ads Manager, DV360, SA360, Google Analytics 4, and campaign manager 360.
Deep dives
Opportunity for Growth: Search and YouTube Reach Extension
Google search as a reach extension to onsite sponsored product ads is an underutilized opportunity in the retail media industry. With billions of people shopping on Google search every day, leveraging this platform can greatly scale brand presence and drive incremental sales. Additionally, connected TV, with YouTube being the leading platform, offers a ripe opportunity for awareness and conversion simultaneously. Leveraging YouTube for retail media campaigns can unlock significant growth potential. Finally, in-store digital displays present another exciting opportunity to capture shopper attention and drive engagement.
Partnership Success: Albertsons, Roundel, and Nordstrom Media Network
Albertsons has experienced a 20% increase in ad relevance and double-digit ad performance for their onsite advertisements by leveraging Google Ads Manager. They have also achieved personalization and localization needs through DV360 and dynamic localized creative. Roundel has seen a 20% year-over-year increase in conversion rates by including Google Ads in their offsite search campaigns. Nordstrom Media Network has achieved double-digit on-channel return on ad spend (ROAS) by integrating product feeds into their YouTube campaigns.
Google's Retail Media Offerings: Tech and Inventory Capabilities
Google offers a range of tech solutions to enhance retailers' retail media offerings. With Google Ads Manager, retailers can monetize their onsite display capabilities. DV360 and SA360 provide offsite campaign activation and execution. Audiences can be activated using Google Analytics 4, and campaign manager 360 allows for comprehensive reporting and measurement. Additionally, Google Cloud offers a scalable solution for reporting and data insights. Google's inventory includes the reach of Google Search and the power of YouTube for connected TV campaigns.
Partnership Opportunities with Google
Google aims to partner with various retail media networks, regardless of their level of sophistication or maturity. Whether a network is just starting out and needs tech infrastructure or already established and seeks reach extension and scale, Google provides tailored solutions to meet their specific goals. The focus is on supporting the growth of the retail media industry as a whole and adding value to networks and brands alike.
1) Would love to start with understanding your professional journey and some of the key pivot points that led you to your current role at Google. 2) How did a retail media vertical emerge at Google? Was it entirely by design or did it evolve? 3) Would you share with us the inventory capabilities that Google brings to retail media networks? What is appealing to retailers? 4) And what about the tech stack? What are the core offerings you provide to help retailers enable powerful network capabilities? 5) So how are retailers partnering with you to enhance their retail media offerings? Does it usually start with tech or with inventory and why? 6) Does size or maturity of a RMN matter in the appeal that google’s offerings have? We’re trying to understand your customer base. 7) Do you have 1 or 2 case studies of best-in-class partnerships that you can share with our audience? 8) What do you see as the biggest growth opportunities in retail media for 2023 and how is Google helping RMNs realize the potential?
DISCLAIMER: The content in this podcast episode is provided for general informational purposes only. By listening to our episode, you understand that no information contained in this episode should be construed as advice from CPGGUYS, LLC or the individual author, hosts, or guests, nor is it intended to be a substitute for research on any subject matter. Reference to any specific product or entity does not constitute an endorsement or recommendation by CPGGUYS, LLC. The views expressed by guests are their own and their appearance on the program does not imply an endorsement of them or any entity they represent.
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