4 Retail Media Myths
Retail media—or marketing to consumers at or near their point of purchase—is a market expected to double over the next few years. Don’t fall for retail media solution providers who overpromise and underdeliver. Here are 4 common myths about retail media debunked:
- The higher the number, the greater the reach. We all have multiple email addresses and devices. The numbers that a retail media network touts don’t always necessarily translate to the number of actual people reached, and relying on these metrics can result in wasted costs and underperformance.
- Retail media only happens on a retailer’s website. In fact, only a small fraction of customers organically shop on retailers’ owned digital channels on a regular basis. The rest is in-store. Brands risk missing up to 90% of their customers online if their retail media networks are not optimized for on-site, off-site, and in-store capabilities.
- Retargeting is an effective retail media strategy. Well, does it work on you? We’ve all been followed across the web by an ad for something we decided not to buy—or already bought. Over-frequencing is annoying and doesn’t reach new customers. To improve relevance and performance, retail media networks must implement strong, people-based identity solutions across multiple channels and devices.
- CTV is new to retail media. Actually, brands have used retailer data to activate multi-channel media for decades. Like programmatic display, marketers can use CTV to reach lapsed buyers and new prospects.
Check out the full post by Adweek.
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