Joshua Dreller
Sr. Director, Content Marketing @ Skai
Joshua Dreller
Sr. Director, Content Marketing @ Skai
Retail media strategy is the practice of using retailer-owned digital channels to promote products and engage customers. As consumer behavior shifts towards omnichannel shopping experiences, the importance of a well-executed retail media strategy has grown significantly. Brands that adapt to these changes can gain a competitive edge by effectively reaching and influencing consumers at various touchpoints throughout their shopping journey.
Omnichannel retail integrates various shopping channels, such as brick-and-mortar stores, ecommerce websites, mobile apps, and social media, to provide a seamless customer experience. This approach allows consumers to interact with brands across multiple touchpoints, ultimately leading to business growth.
Benefits of an omnichannel approach for brands and retailers include:
As consumers continue to embrace digital channels and expect a unified shopping experience, adopting omnichannel strategies has become essential for brands and retailers to remain competitive and meet evolving customer demands.
To successfully implement omnichannel campaign management, retail media businesses must focus on the following components:
When most people think of retail media advertising, they think of keyword-triggered messaging. But as retail media strategies mature, marketers are beginning to recognize the importance of a unified, omnichannel approach encompassing paid social, paid search, and other digital ad channels. It may be surprising that paid social is the most important retail media ad format.
Retail media competition is rising, and marketing organizations must continue to evolve. State of Retail Media 2024 surveys retail media marketers and provides a valuable snapshot of how practitioners approach the channel, such as:
Ad formats will likely be on the rise next, which is also surprising: streaming TV and/or video ads and search engine ads are high on the list. The fact that paid social and paid search are increasingly important to retail media marketers is indicative of a big change within the industry, representing a shift from thinking of retail media in terms of a means of promoting products within a retailer’s ecosystem to part of a unified, omnichannel retail media strategy to meet shoppers across platforms and guide them through the purchase funnel at each touchpoint.
Though retail media as we know it has only existed for a little more than a decade, most marketers feel that their strategies are reaching maturity. And part of that maturity is understanding how retail marketing can coordinate with and bolster efforts on other channels. In fact, only 9% of respondents said that their retail media channels were not integrated with other digital ad channels.
Increasingly, brands are prioritizing strategy and considering channels as part of the overall strategy rather than siloing efforts. In fact, according to Skai’s State of Retail Media 2024, 75% of our respondents say they are currently using channels like paid social and/or paid search to drive traffic to (and sales through) retailer partners.
Skai’s research also reveals that most respondents use a significant part of their paid social and paid search budgets to drive traffic to retailer partners. This finding underscores the importance of a comprehensive, omnichannel approach to retail media, which is a core feature of Skai’s platform. Not only is this an indicator that retail marketing is an increasingly crucial part of overall strategy, but it’s also pretty strong proof that retail media works outside seller platforms, offering a way to boost brand awareness and drive sales no matter where customers browse.
To learn more about why 96% of marketers say retail media helped achieve the desired brand impact last year, download our full State of Retail Media 2024.
To ensure the success of your omnichannel retail media strategy, it’s essential to measure performance and continuously optimize your efforts:
This ongoing process requires dedicated resources, a data-driven mindset, and a willingness to adapt. Brands that prioritize these efforts will be better positioned to maximize the impact of their omnichannel retail media strategy, driving growth and staying ahead of the competition.
Skai stands at the forefront of the retail media revolution, leveraging its AI-powered marketing platform to drive smarter decisions and foster business growth. Skai’s Omnichannel Marketing Platform and Retail Media solutions are designed to meet the needs of marketing leaders, brand managers, and agencies, providing a comprehensive suite of tools for data consolidation, insights generation, and predictive intelligence. With Skai, brands can navigate the complexity of the retail media landscape, optimizing their ad spend and maximizing ROI.
Our platform’s ability to integrate disparate data sources, from first-party shopper data to open internet behavior, creates a comprehensive view of the consumer landscape. This integrated approach enables brands to craft advertising campaigns that are not only relevant but also highly personalized, enhancing the overall customer experience.
Skai’s platform is the key to unlocking a successful omnichannel retail media strategy. Our cutting-edge technology and strategic insights empower brands to make data-driven decisions, optimize advertising efforts, and ultimately drive business growth.
Book a meeting with us today to discover how Skai can help you optimize your omnichannel retail media strategy and drive measurable results for your brand.
Retail media promotes products and engages customers through retailer-owned digital channels, such as ecommerce websites, mobile apps, and in-store digital displays. Traditional advertising, on the other hand, involves promoting products through external media channels, such as television, radio, and print.
Brands can measure the success of their retail media strategy by tracking key performance indicators (KPIs) such as click-through rates, conversion rates, return on ad spend (ROAS), and customer lifetime value (CLV). Utilizing analytics and reporting tools can help gather and interpret data from various channels to
Retail media networks are digital advertising platforms owned and operated by retailers that allow brands to promote their products directly to consumers within the retailer’s ecommerce environment. These platforms leverage the retailer’s first-party data and targeting capabilities, enabling brands to deliver highly relevant and personalized advertising experiences, driving sales and enhancing brand visibility at the point of purchase.
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