Digital Retail Media is becoming increasingly important as online shopping becomes the new must win battleground for retailers and brands. Many brands still have a traditional (offline) broadcast mentality to marketing investment and lack capabilities to make the most of the Digital Retail Media opportunity.
One of the most important ways to increase your digital commerce sales is understanding and acting on the opportunities your retailers have...More
I’ve seen the recent sales figures for Diet Fizzy Love online.
We need to do something about this!
If our competitor starts getting real traction with sales, our search position will be threatened and so will our listing.
We’ve got £20K in the budget for online activations.
Can you come up with a quick plan on what we should do?
I’d like to see a proposal by the end of the week.
This course is a work of fiction. Unless otherwise indicated, all the names, characters, businesses, data, places, events and incidents in this course are either the product of the author's imagination or used in a fictitious manner. Any resemblance to actual persons, living or dead, or actual events is purely coincidental.
You don’t really know much about digital retail media. So where do you start?
Digital Retail Media is digital advertising’s third big wave and the next big thing in CPG eCommerce. For Bricks and Clicks retailers, Digital Retail Media is THE crucial source of revenue for the online P&L. For brands, Digital Retail Media means shopper understanding has never been so good! (potentially…)
Online grocery is no longer just a place to go and buy things, it is where shoppers find ideas, become aware of new products and compare brands! Because it’s a new, rapidly changing area, many commercial and marketing teams are struggling to make the most of the opportunity. Deploying it correctly can be an incredibly effective way to engage and influence shoppers but executed badly is a surefire way to waste promotional budgets.
Retail Media is advertising within a retailer’s e-commerce website or apps – typically sold by retailers to brands who wish to boost visibility on the ‘digital shelf’ and promote their brands closer to the point of sale. Think of Retail Media as any communication and marketing techniques used on consumers' purchase journeys online that can be packaged and sold to third parties such as brands to drive sales. Another way to think about Retail Media has been coined by Fidji Simo, the new CEO of Instacart: “There’s an advertising product inside people’s e-commerce shopping cart...the holy grail in advertising.” Retail Media is a virtual cousin to end-of-aisle or in-store, point-of-sale promotions in a bricks-and-mortar store with a more compelling proposition than a typical ‘end-of-aisle’ promotion: as first-party data allows them to identify consumers who make a purchase after seeing an advertisement on their e-commerce site.
By following the 4 principles in this lesson we think you’ll add an extra layer of rigour to your planning process and make the most of your Retailer Digital Media budgets.
Principle 1: Have a clear objective in mind
Principle 2: Think ‘Path to Purchase’
Principle 3: Be selective with investment mechanics
Principle 4: Secure retailer commitment
Complete all of the exercises first to receive your certificate!
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