{"id":14340,"date":"2024-06-07T12:51:45","date_gmt":"2024-06-07T07:21:45","guid":{"rendered":"https:\/\/rocketium.com\/academy\/?p=14340"},"modified":"2024-06-07T13:03:01","modified_gmt":"2024-06-07T07:33:01","slug":"leverage-retail-media-to-supplement-your-ecommerce-growth","status":"publish","type":"post","link":"https:\/\/rocketium.com\/academy\/leverage-retail-media-to-supplement-your-ecommerce-growth\/","title":{"rendered":"Leverage retail media to supplement your ecommerce growth"},"content":{"rendered":"\n

In today’s digital age, consumer buying habits continue to evolve, demanding that brands connect with their audience in more effective ways to drive conversions. Traditional advertising channels are facing diminishing returns as consumers grow increasingly immune to their messages. To adapt, consumer brands are shifting their ad budgets towards retail media, a strategy proven to effectively reach consumers at the moment of intent, while they shop on retailers\u2019 platforms.<\/p>\n\n\n\n

Retailers, in turn, are empowering advertiser brands with their first-party data and buyer behavior insights to enable them to produce highly relevant ads that drive conversions. This strategic shift has already shown significant success, with 70% of consumer brands reporting better performance from retail media ads compared to any other channel, according to a McKinsey study. With expectations to allocate up to 25% of total digital media spending to retail media by 2026, brands are doubling down on this lucrative form of advertising.<\/p>\n\n\n\n

The impact on retailers’ revenue is clear, with 93% of US retailers reporting increased revenue due to retail media ads, as indicated by a 2024 Statista study. This trend is further supported by the exponential growth in retail media spending, projected to reach $100 billion by 2026.<\/p>\n\n\n\n

Retail media represents a compelling opportunity for both advertisers and retailers to effectively engage consumers and drive sales in today’s evolving digital landscape. However, while retail media networks are highly profitable, with operating margins ranging from 50% to 70%, maximizing revenue through retail media is not just about selling ad slots across digital platforms. Retailers must strategically optimize their efforts in key areas such as the follows:<\/p>\n\n\n\n

  1. Promoting More Advertisers and Driving Campaign Spends:<\/strong>
    Retailers can increase ad revenue by enabling more brands to run ads on their platform, minimizing rejection rates through compliance checks.
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  2. Faster Go-lives While Ensuring Compliance:<\/strong>
    Speeding up creative execution ensures faster campaign launches, helping advertisers reach customers at the right moment for maximizing sales opportunities.
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  3. Personalization for Higher Performance:<\/strong>
    Providing access to first-party shopper data and creative tools allows retailers to tailor ads, significantly enhancing ad effectiveness and the value of placements.
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  4. Optimizing Costs for Scalability:<\/strong>
    Streamlining processes and reducing costs related to staffing and tools ensures efficiency and scalability as demand for personalized ads grows on retailers’ platforms. <\/li><\/ol>\n\n\n\n

    But to begin with, retailers must ensure their CreativeOps is positioned to support brands in their retail media advertising efforts. Unfortunately, legacy tools and manual workflows are slowing down creative production, leading to delayed campaigns and lower ad performance. <\/p>\n\n\n\n

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    By streamlining end-to-end CreativeOps, retailers can enhance productivity and maximize revenue potential from retail media advertising.<\/p>\n\n\n\n

    Know more about it in our Retail Media Playbook <\/strong>where we uncover how streamlined creative operations can empower retailers to drive higher ad revenue by enabling brands to advertise more. <\/p>\n\n\n\n

    This Retail Media Playbook<\/strong> helps retailers learn how to:  <\/p>\n\n\n\n

    • Promote more advertisers<\/strong>: While lowering platform rejections with automated brand and platform checks on creatives
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    • Create for more advertisers and ad slots<\/strong>: With creatives auto-adapted to various sizes and formats using branded templates
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    • Hyper-personalize ads for higher conversions<\/strong>: By generating creatives for customer segments using a content feed
      <\/li>
    • Optimize production costs<\/strong>: While driving better outcomes for advertisers with personalized ads and quicker refreshes. <\/li><\/ul>\n\n\n\n

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