Maximizing Your Media Mix: How to Drive Sales with Retail Media Networks & Location Marketing Solutions
With so many shifts in shopper behavior, there have been so many headlines about the new consumer, but what about the new marketer?
From changes in the marketing landscape from a cookieless future, to shifts in shopping behaviors, to the expansion of CTV advertising, brands and agencies need to recalibrate their media mix.
What is a retail media network?
Retail media networks are advertising networks created by retailers that allow advertisers to purchase ad space across their owned online properties (like apps and websites), or sometimes through paid media opportunities. Retail media networks allow brands to advertise directly through the retailer channels, reaching shoppers who are already interacting with that particular retailer to drive awareness of their products.
What are the benefits of retail media networks and retail media advertising?
Purchasing ad space with a retail media network often comes with a set media commitment and helps brands to uphold key retail partnerships.
Retail media networks can provide brands access to crucial first-party data directly from the retailers, but there is value in other first and third-party data points that can underscore new audiences with high-intent to make a purchase.
How can GroundTruth complement retail media strategies?
At the end of the day, for CPG and Shopper Marketers, the most important screen is the screen the consumer is currently on. While there is value in investing in retail media networks, diversifying your marketing efforts ensures that you’re reaching key audiences in the moments that matter most.
3 Benefits of Using Retail Media Networks and GroundTruth
What are some of the benefits of working with a partner like GroundTruth on top of your retail media network investments?
Vendors can often provide faster turnaround time to launch a campaign than the lead time that a retail media network requires. Less time to get up and running means more time to test, learn, and optimize in real time. GroundTruth campaigns can launch within days depending on the criteria and tactics and you get access to detailed reports to help you understand performance and optimize the next flight.
Outside partners can often provide newer solutions custom-built to fit your needs. For example, if you’re looking to drive sales of a product only available in a few stores, a localized strategy might better fit your objective. For example, GroundTruth’s In-Stock Targeting solution powers your ads to dynamically update the drive-to-store call-to-action to direct the shopper to the store nearest to them with available inventory. No more disappointed shoppers leaving a store empty handed or with a competitor’s product because they couldn’t find yours.
For CPG brands especially, who rely on retailer shelf space vs. brands with standalone stores, the key goal is to get your product in the hands of your customers. Where they purchase that product can vary. Not all retailers have retail media networks and if they did, that would only give you access to a subset of potential shoppers. Partnering with GroundTruth means you’d have the ability to run multiple campaigns at the same time, driving to multiple retailers, all with unique creative and messaging. You could also set up your campaigns to run a hyper-local approach or nationwide campaign.
If I want to work with a new vendor, like GroundTruth, how do I get started?
Find out how that vendor can help you tap into a new audience or reach them in an innovative way. At GroundTruth, we say the best way to learn is to test a campaign with us. Let the results prove the value that we can add on building awareness, driving visits, and converting sales.
The balance between retail media networks and vendors, like GroundTruth, can vary throughout the year, be dependent on seasonality, or need to adjust due to outside factors like supply chain issues. The important thing is to have multiple tools in your toolbox so you can run successful retail media advertising and marketing campaigns.
Look for our location targeting solutions to find the best way to help your retail media marketing strategy.
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