The Power of Retail Media Pt. 1 - VENDO Podcast Ep. 108
Mar 14, 2023
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Dive into all things Retail Media in this episode. The hosts discuss the basics, benefits, and implementation of Retail Media. Topics include what Retail Media is, its benefits, how brands should use it, and what to expect in the Retail Media Series. Learn about the changing landscape of Retail Media, the importance for brands, and understanding different brand approaches. Discover the significance of Retail Media, driving sales, and tracking digital performance.
Retail media offers benefits like increased visibility and reaching target shoppers while capitalizing on the growth of e-commerce.
Different types of brands should consider retail media as part of their marketing mix, leveraging first-party data for better attribution and measurable results.
Deep dives
Overview of Retail Media
Retail media refers to advertising within retailer websites or apps, allowing brands to directly sell their products on-site. It has evolved to include various capabilities, such as search-based advertising and display/native ads, catering to customers at different stages of the buying journey. Retail media offers benefits like increased visibility, reaching target shoppers, and capitalizing on the growth of e-commerce. The pandemic has shifted shopping preferences, with a significant increase in online spending. Retail media provides opportunities for brands to drive incremental sales as customers now prefer online purchases over visiting physical stores.
Different Approaches to Retail Media for Brands
Different types of brands and varying levels of maturity should consider retail media as part of their marketing mix. Retail partners may require brands to invest a specific percentage back into retail media to support sales velocity. Leveraging first-party data from retail media platforms allows brands to have better attribution and measurable results. The strategies for brand investments in retail media depend on factors like brand maturity and goals, channel preferences, and driving long-term growth. Brands can track performance metrics, ROAS, and GM acquisition costs, and adjust investment based on POS data and customer insights to drive sales, grow category share, and target new customers.
The Future of Retail Media and Multi-channel Integration
The future of retail media involves expanding beyond conversion-focused efforts and embracing programmatic display ads offered by retail media networks. These ads leverage retailers' vast knowledge and data to reengage customers, drive category awareness, and increase consideration. Furthermore, by combining external advertising channels like social and search, brands can complement their retail media campaigns and drive regional-specific sales. Retailers now integrate store and e-commerce sales, allowing brands to measure the impact of digital campaigns on physical store purchases. The evolving landscape of retail media offers exciting opportunities for brands to enhance their marketing strategies and track performance across multiple channels.
This week on the VENDO Podcast we will dive into all things Retail Media! This episode will be part 1 in our Retail Media Series. Jason Weilemann, Head of Marketplace Advertising, and Nicolas Martinez, VP of Marketing, will break down the basics of Retail Media: what is it, what are the benefits of using it, and how brands should implement it.
Topics Include:
- What is Retail Media (2:08)
- Benefits of Retail Media (4:17)
- How Brands Should Use Retail Media (7:19)
- What's to Come on Our Retail Media Series (14:02)
Featuring:
- Jason Weilenmann, Head of Marketplace Advertising, VENDO
- Nicolas Martinez, VP of Marketing, VENDO
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