E-commerce has grown significantly since the Covid-19 incident first surfaced. As a result, retailers—many of whom used offline marketing tools—have been forced to consider their digital transition and, in particular, their digital marketing strategy. The importance of retail media in this setting has increased. It’s a marketing strategy that involves placing relevant advertisements right where your customers are in the buying process to influence their purchase of your goods. Advertising is positioned on the consumer’s shopping trip in retail media, as you have just read.
Now that retail media is omnichannel and regarding retail media strategy, there are two distinct sorts to consider:
1. On the one hand, point-of-sale advertising, is commonly referred to as in-store retail media (or POS). This kind of marketing tactic is placing printed adverts in the sellers’ own storefronts. This is accomplished by placing advertisements at various touchpoints, such as when a customer scans his purchases with a scanner in-store or at the cash register when his shopping trip is over.
2. Digital retail media, on the other hand, is also referred to as e-retail media. These promotional activities include posting adverts on the online storefronts of distributors that provide this auction system.
Complementary marketing techniques that can improve the customer experience you build around your business while also helping you make sales or keep on top of your current clientele!
Many e-commerce sites have now developed their own advertising networks to monetize their web audiences:
- Marketplaces
- Shops for consumer goods
- Specialists in retail
The good news is that as this digital advertising tool has developed, merchants have increasingly given advertisers access to data to help them personalize their messaging and increase brand awareness and sales. There are so many Big Data levers you can pull to make sure your marketing objectives are met during the consumer journey that your target audience takes!