Commerce media marketing is becoming an essential practice in retail, according to a new report by Criteo and Forrester. By using data intelligence and digital advertising technology to reach consumers across the shopping journey, marketers are improving their growth strategies and delivering better shopping experiences.
The report surveyed marketers and found that 82% say commerce media is a top business objective for 82% of those surveyed in the report. Among respondents, 65% said a commerce media approach would increase business growth. Further, 81% said investing in a single commerce media platform is the best way to future-proof media performance.
Currently, 55% of them buy media from six or more platforms. Additionally, 51% buy media from six or more retail media partners – leaving 38% of marketers struggling to measure media performance.
The report offers valuable insights about how marketers are rethinking retail media strategies to connect with shoppers as digital channels, social media and the metaverse are enabling consumers to buy from anywhere. By implementing a commerce marketing strategy, marketers can improve the customer experience.
SmartBrief asked Brian Gleason, chief revenue officer at Criteo, to provide some further thoughts on the implications for marketers:
What is commerce media?
Commerce media is a massive growth driver across digital advertising. It impacts brands, retailers, and publishers, and it’s becoming a central part of the overall marketing growth strategy.
It works in tandem with AI and a privacy-first approach to help marketers and media owners break down silos. This improves customer experience and strengthens loyalty while helping brands adapt to forthcoming ad regulations.
What does the current landscape look like?
Commerce media begins with retail media, which has grown rapidly over the past two years with companies like Walmart, Target and others reporting their digital ad revenue for the first time. This is telling, as retail media platforms are central to the larger commerce ecosystem.
Where is commerce media headed?
Commerce media will continue to expand alongside the growth of e-commerce. Looking ahead, there will be new marketing opportunities to fuel additional growth—deeper offerings, ad formats, and channels. Brands, retailers, publishers, and ad tech companies will continue to collaborate and enhance the commerce media landscape.
How can marketers get started with implementing a commerce media strategy?
When implementing a commerce media approach, it’s important to plan for the future.
Talk with your current and potential partners about how they are preparing for a more consumer focused, privacy-first future. Prioritize the day-to-day performance metrics that are proven leading indicators of higher-level business goals.
Keep in mind that commerce media is a strategic extension of the brand and retailer relationship, not something to do once and walk away. Take a collaborative approach to refine and evolve your strategy for improved outcomes.
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