The modern age of marketing is both a blessing and a curse for businesses of all types. Advertising to millions of people is easier than ever—but it means your competition has the same opportunities. Moreover, consumers are regularly bombarded with marketing efforts daily from every angle, which has made them adept at ignoring or becoming annoyed with generic attempts.
This raises an intriguing question: how can you break through the noise? The answer lies in the unique benefits of retail media networks, which allow you to connect with customers through relevant placements.
How Retail Media Networks Improve Strategic Marketing
A retail media network is an advertising system offered by a retailer that allows youto purchase ad space across any of the digital properties owned by that service. Amazon currently offers the largest retail media network for sellers across their site, accounting for 89% of U.S. retail media spending. Walmart follows up in second place, with many other retailers also offering networks. Advertising across these types of networks is essentially the online version of in-store advertisements.
The Benefits of Retail Media Networks
Yet, the true power of retail media networks in strategic marketing lies in their robust data collection capabilities. Retail giants like Amazon, Walmart, Target, and others amass significant amounts of data about customer purchasing habits, frequency, and timing. In turn, this empowers your advertising to reach customers at the ideal times for conversion.
Advertising across retail media networks offers improved relevancy, personalization based on shopping habits, and increased visibility. Additionally, it delivers a simplified yet effective one-stop shop for advertising instead of many individual campaigns.
Using Retail Media Networks Placements in A Strategic Marketing Plan
A primary factor to consider when advertising on a retail media network is where your ads will be placed throughout the site. There will be several options for ad placements, including:
- Home Page: The ad will be front and center on the retailer site’s home page. Ideally, this means it will capture the visitor’s attention almost immediately before they begin seeing several other ads. These can include banner ads, featured products, or trending items.
- Search Page: These ads will display when customers search connected keywords and phrases. This allows search page ads to be unique and customized to show up when a customer is looking for that type of product.
- Category Page: Category page ads are more targeted than they would be on a home page. It will display ads for relevant products connected to that category, offering increased relevance and conversion.
- Product Page: Product page ads can capitalize on the items a customer is actively browsing. They will show up within pages that the customer is already looking at. Product page ads can display recommended products, similar competitive products, or complementary items.
Each of these placements has its own advantages and disadvantages. Ideally, your strategies should diversify and capitalize on multiple placements to connect with each customer across their shopping timeline. This will help to catch those who missed an ad the first time or reconnect with those who saw it in another placement.
Choosing Your Retail Media Network
There is no one-size-fits-all retail media network, as every retail business differs in its model and offerings. The best thing you can do is find the right network that aligns with your brand, products, or interests. For instance, if your business sells computer accessories, you shouldn’t consider working with Home Depot’s retail media network. This is an obvious example, but it communicates the point of choosing a good fit.
When deciding, ask yourself this question: What retail media network will let you connect with the most relevant target audience?
