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Retail media networks: a guide for brand manufacturers

3 minute read

In today’s quickly changing digital landscape, retail media networks (RMNs) have become a crucial component for CPG (consumer packaged goods) brand manufacturers. As ecommerce continues to thrive, understanding and leveraging retail media networks can significantly enhance a brand’s visibility and sales performance. This guide will provide an in-depth look at RMNs, their benefits, and strategies for CPG brand manufacturers to succeed on the digital shelf.

Retail media guide

What are retail media networks?

RMNs are advertising platforms developed by retailers that allow brands to advertise their products directly on the retailer’s website (onsite) and other digital properties (offsite). These networks leverage the retailer’s first-party data to deliver highly targeted and relevant ads to consumers at the point of purchase. Major US players in this space include Amazon, Walmart, Target, and Kroger, among others. 

Retail media networks encompass a variety of advertising formats, including sponsored product listings, display ads, video ads, and more. By integrating these ads within the retailer’s digital ecosystem, brands can engage with consumers more effectively, driving both online and in-store sales. 

How CPG brands can use retail media networks

1. Access to first-party data

One of the most significant advantages of retail media networks is the access to first-party data. Retailers collect detailed information on consumer behavior, purchase history, and preferences, enabling brands to target their ads with precision. This data-driven approach ensures that advertisements are shown to the most relevant audience at the best time, increasing the likelihood of conversion.

2. Enhanced visibility on the digital shelf

The digital shelf refers to the online equivalent of a physical store's shelves, where products are displayed and made available for purchase. With the rise of ecommerce, maintaining a strong presence on the digital shelf is crucial for CPG brands. Retail media networks help brands achieve prominent placement, ensuring their products are easily discoverable by online shoppers.

3. Measurable ROI

Retail media networks provide comprehensive analytics and reporting, allowing brands to track the performance of their campaigns in real-time. Metrics such as impressions, clicks, conversions, and sales data offer valuable insights into the effectiveness of advertising efforts. This transparency enables brands to optimize their campaigns and maximize their return on investment (ROI).

4. Increased consumer engagement

By delivering personalized and relevant ads, retail media networks enhance the overall shopping experience for consumers. Brands can create targeted campaigns that resonate with individual shoppers, offering promotions, discounts, and product recommendations that align with their preferences. This level of personalization fosters consumer engagement and loyalty.

Strategies for success on retail media networks

1. Leverage data for targeted advertising

Utilize the rich first-party data provided by retailers to create highly targeted advertising campaigns. Analyze consumer behavior, purchase patterns, and demographic information to tailor your messaging and reach the right audience. This data-driven approach will increase the relevance of your ads and drive higher conversion rates.

2. Optimize product listings

Ensure that your product listings on the digital shelf are optimized for search and discovery. It’s important to do this for each individual retailer as their criteria differ. Use high-quality images, detailed product descriptions, and relevant keywords to improve your visibility. Additionally, encourage and respond to customer reviews and ratings to build trust and credibility with potential buyers.

3. Invest in sponsored product ads

Sponsored product ads are a powerful tool for driving visibility and sales on retail media networks. These ads appear prominently within search results and product pages, increasing the likelihood of clicks and conversions. Allocate a portion of your advertising budget to sponsored product ads to boost your presence on the digital shelf.

4. Monitor and adjust campaigns

Regularly monitor the performance of your retail media campaigns using the analytics provided by the network. Identify which ads are performing well and which ones need improvement. Adjust your targeting, messaging, and budget allocation based on the insights gained to continually optimize your campaigns.

5. Collaborate with retailers

Develop strong relationships with your retail partners to gain additional support and insights. Retailers can provide valuable guidance on best practices, emerging trends, and consumer behavior. Collaborating closely with retailers will help you stay ahead of the competition and make the most of retail media networks.

What's next in retail media networks

The retail media landscape evolves continually, with new technologies and innovations shaping the way brands connect with consumers. Artificial intelligence (AI) and machine learning are expected to play a significant role in enhancing targeting capabilities and optimizing ad performance. Additionally, the integration of retail media networks with other digital marketing channels, such as social media and connected TV, will create more cohesive and impactful advertising strategies. 

As the importance of ecommerce continues to grow, so will the significance of retail media networks. CPG brand manufacturers that embrace these platforms and invest in data-driven, personalized advertising will be well-positioned to succeed in the competitive digital marketplace. 

Retail media networks offer a wealth of opportunities for CPG brand manufacturers to enhance their visibility, engage with consumers, and drive sales on the digital shelf. By leveraging first-party data, optimizing product listings, and investing in targeted advertising, brands can maximize the benefits of retail media networks. As the digital landscape continues to evolve, staying informed about the latest trends and strategies will be crucial for long-term success. Embrace the power of retail media networks and watch your brand thrive in the dynamic world of ecommerce. 

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