Preview Mode Links will not work in preview mode

Ecommerce Braintrust


Jun 10, 2024

Welcome to another episode of The Ecommerce Braintrust podcast hosted by Acadia’s Head of Retail Marketplaces Services Julie Spear.

In this episode, we dive into the intricacies of retail media allocation with guests Ross Walker, Head of the Retail Media Team, and Damiano Ciarrocchi, Senior Retail Media Manager.

The trio explores the dynamic landscape of retail media strategies, what has evolved over the past few years, and key insights for brands looking to optimize their omnichannel investments.

Make sure you tune in to find out more!

 

KEY TAKEAWAYS

In this episode, Julie, Ross, and Damiano discuss: 

State of Retail Media Allocation

  • How retail media allocation strategies have evolved, emphasizing the importance of holistic and channel-agnostic views.

  • The shift from simplistic revenue-based allocations to considering incrementality and customer journey metrics.

Approaching Retail Media Holistically

  • The need for brands to move beyond siloed strategies and consider the interplay between different marketplaces.

  • How brands leverage multiple channels such as Amazon, Chewy, and Walmart to maximize brand growth.

  • Evaluating the unique contributions of each channel to overall sales and not just individual performance metrics.

Retail Media Network Lifecycle

  • The typical development stages of retail media networks, from focusing on lower-funnel tactics to expanding into mid- and upper-funnel capabilities.

  • The expansion and improvement of self-serve ad platforms as retailers mature.

Pitfalls to Avoid and Best Practices

  • Issues like siloed teams, lack of testing, and under-leveraging in-store presence were highlighted as frequent setbacks.

  • Brands with overarching strategies, consistent cross-channel metrics, and robust creative campaigns tend to be more successful.

Retailer Priorities and Recommendations

  • Strong emphasis on the importance of foundational metrics and data insights.

  • Sequence of developing ad types starting from lower funnel and moving upward as the platform matures.

  • Encouraging retailers to adopt a more long-term perspective by making data accessible and free.

Future Considerations

  • Emerging importance of integrating digital advertising with in-store presence.

  • Evolving omnichannel strategies to stay ahead in the complex e-commerce landscape.