Retail media performance continues to be a top focus for marketers, as we saw recently at IAB’s Annual Leadership Meeting, and earlier, at Advertising Week NY. As we continue to work toward metrics standardization and a cookie-less future, one thing is clear: It's not just about reaching eyeballs.
Shifting the focus from quantity to quality in engagement is the new frontier. It’s time to embrace new "Marketing Math" with a focus on creating meaningful connections that resonate with the hearts and minds of our audiences, says Market Performance Group Director, OmniCommerce Media, Colleen Mahoney.
She advises CPG brands to:
1. Make the WHO Your Nucleus
In the intricate equation of retail media advertising, the WHO is the nucleus. Understanding your audience—WHO they are, their preferences, and behaviors—is the foundational element. The where, what, when, and how become meaningful only when anchored in a profound understanding of the WHO.
2. See Consumers as the Main Characters
Shift the narrative! Brands play a supporting role; consumers are the protagonists. It's not about showcasing products; it's about weaving stories that resonate with the lives, aspirations, and challenges of real people. By making consumers the focal point, advertisers unlock the potential for emotional connections that extend beyond transactions.
3. Apply Holistic Audience Thinking
Move beyond traditional metrics. Holistic audience thinking involves seeing individuals in their entirety—beyond demographics. Understand their values, lifestyles, and passions. This nuanced perspective allows for more targeted and resonant messaging, elevating the overall impact of advertising efforts.
4. Hyper-Personalize to Authentically Engage
Gone are the days of one-size-fits-all. Hyper-personalization is the key to unlocking engagement and loyalty. Tailoring messages to the specific needs and preferences of individuals creates a bespoke experience. It's about making each consumer feel seen and understood in a crowded digital landscape.
5. Redefine Success Beyond Impressions
Impressions are just one part of the equation. Success in retail media advertising is redefined when we measure impact on the individual level. It's not just about how many saw it; it's about how many were moved by it. Shifting the focus from quantity to quality in audience engagement is the new frontier.
For more insights that can drive your brand’s omnicommerce growth, reach out to Colleen Mahoney at firstname.lastname@example.org