Over 70% of consumers expect personalisation. If that isn’t compelling enough, consider this – more…
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The retail media market is growing – and it’s about to boom. Isn’t it time to start generating revenue from the first party data you collect every day?
Why retail media?
Boost revenue.
Activate first party audiences and introduce an additional revenue stream.
Increase loyalty.
Strengthen relationships with partner brands and consumers with relevant, targeted ads.
Improve experiences.
Serve customers the right ad, for the right product, in the right place, at the right time.
Hop aboard the retail media train.
What if you could generate revenue using the reams of first party data you collect all day, every day? Well, you can.
The cost of goods is rising rapidly, driven by supply disruption and global instability. Retailer revenue and profit are decreasing as a result – so something needs to change.
Retail media is a form of advertising using a retailer’s digital properties. Relevant, targeted ads are blended natively throughout the customer shopping experience. This presents retailers with the opportunity to boost revenue. How? By offering partner brands paid options to have their products shown on the first page of a customer’s search results.
BCG estimates huge growth for retail media over the next five years. They anticipate the market will be worth $100 billion, accounting for over 25% of total digital media spend by 2026.
Data makes all the difference.
Traditional marketing and advertising channels are reducing in effectiveness. A combination of oversaturated consumers, ineffective ad execution and the rising cost of media are all denting the impact of traditional channels and tactics. But there’s another way – retail media.
Retail media relies on first party data. The good news is you’re already capturing it – to understand customer behaviour and preferences. For example, what a customer buys or browses, how much they spend and how often they shop.
Retail media is contextually relevant: it connects with consumers at the point of purchase. Reaching a customer at the bottom of the purchase funnel is more likely to lead to a sale – versus reaching them when they’re walking down the street.
With the right tools and skills, first party data can be turned into incredibly valuable insight. For example, the recency, frequency, and value of customer transactions; customer lifetime value; or customer profiles and pen portraits. This insight can inform personalised future ads – improving customer experiences – and can also strengthen relationships with partner brands.
Flex your first party data superpower.
Have we persuaded you that retail media should be high up on your to-do list? Here are a few more reasons:
Times are tough, so marketing budgets are under pressure. Analysing first party data effectively means partner brands can identify their ideal customers, reach them with much greater certainty, then tailor communications to appeal to them. Accuracy is crucial, so choosing a decision intelligence partner like HyperFinity helps you fulfill the potential of this data.
Retailers need to demonstrate the value and ROI of retail media to partner brands. Our decision intelligence software uses AI and machine learning to accurately predict and understand customer behaviour, then track and report on success.
Customers demand seamless experiences, so personalisation is a must. Data science and AI helps you boost yield by showing highly targeted and relevant ads.
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Make intelligent decisions. Simple.
Our cloud-based decision intelligence platform uses cutting edge data science and AI to put your data at the heart of all your retail media decisions.
The best part? Anyone can use it.
Create decision intelligence across every function within your business.
Know your decisions.
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Pricing and promotion.
Marketing and media.
eCommerce and digital.
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