Updated, September 06, 2024
Retail media networks (RMNs) are transforming how brands engage shoppers in-store and online. By using data-driven retail technology, they create customised shopping experiences that benefit both retailers and brands.
In this post, we’ll explain:
1. What is a retail media network
2. How retail media networks work
3. Why RMNs are key to a successful omnichannel strategy
Retail Media Network Definition
A retail media network is a platform offered by a retailer that enables brands to advertise to shoppers either in-store or online. These networks leverage shopper data to deliver highly targeted, tailored ads and content, improving the likelihood of conversion by reaching shoppers at the point of purchase.
Why Retail Media Networks matter in Omnichannel strategies?
In a successful omnichannel world, connecting in-store and online shopping experiences is crucial. RMNs use data to link shopper behaviors across platforms, helping retailers improve customer engagement and increase sales. For more information on integrating in-store audiences, check out our guide on how to integrate your in-store audience into your omnichannel retail media network.
Top Benefits of Retail Media Networks
RMNs offer numerous advantages for both retailers and brands. Here’s a breakdown of the top benefits:
- Optimized Ad Relevance – RMNs use first-party data to ensure that ads are targeted and relevant to the audience, improving the chances of conversion.
- Increased Revenue – Retailers can monetise their in-store media spaces, creating a new revenue stream.
- Enhanced Customer Experience – By offering customised shopping experiences, RMNs enhance customer satisfaction and loyalty.
- Measurable ROAS – With detailed data on ad performance, brands can track the ROAS of their campaigns.
These benefits show why RMNs are gaining momentum in today’s retail landscape.
Retail Media Networks: key examples in the market
Several major retailers have launched their own RMNs, setting new standards for how brands can engage shoppers. Noteworthy examples include:
- Walmart Connect – allows brands to connect with shoppers through targeted advertising across Walmart’s digital properties and in-store experiences. By leveraging Walmart’s vast first-party data, brands can reach shoppers at scale with personalised messages.
- Carrefour Links – a platform that uses first-party data to enable precision marketing for brands, enhancing the customer shopping experience both online and in-store. This network helps brands optimize their campaigns with actionable insights.
- Target’s Roundel – a strong platform that integrates in-store and digital ad placements, helping brands create cohesive campaigns across the shopping journey.
- Kroger Precision Marketing – By leveraging data from in-store purchases, Kroger allows brands to engage with highly relevant audiences, driving both digital and physical store sales.
- Walgreens Advertising Group – A network that utilizes first-party data to target its customers with tailor-made offers.
For more insights on leading RMNs, check out this detailed article on retail media trends by Forbes.
How in-store audience segmentation drives Retail Media performance?
Retailers using in-store audience segmentation are seeing improved campaign performance by delivering tailored messages based on shopper demographics and behaviors. This customized approach is key to driving both engagement and sales.
To dive deeper into the impact of audience segmentation, read our blog on how audience segmentation impacts retail media.
How to integrate your in-store audience into your Retail Media strategy?
Integrating your in-store audience into your retail media network is crucial to maximizing its potential. By using tools like Advertima Audience AI, retailers can bridge the gap between the physical and digital shopping experiences. This creates a unified approach to customer engagement and ensures that in-store shoppers are not overlooked in your marketing strategy.
For more information, visit our guide on how to integrate your in-store audience into your omnichannel retail media network.
Conclusion: Why Retail Media Networks are key to future retail success?
Retail media networks are revolutionizing how brands engage with shoppers in an increasingly omnichannel world. By leveraging data and technology, retailers can offer more custom-made, effective ads that drive online and in-store sales. Whether you’re a retailer looking to increase your media opportunities or a brand aiming to amplify its reach, understanding RMNs is essential to staying competitive.
