Retail Media Networks: A Winning Strategy for Brands Big and Small

Retail Media Networks: A Winning Strategy for Brands Big and Small

Retail Media Networks: A Winning Strategy for Brands Big and Small

As Seen On

Retail Media Networks (RMNs) have emerged as game changers in today’s fast-paced market, serving as platforms for retailers to monetize their digital platforms and customer data by offering targeted advertising opportunities to their suppliers. Powerhouse brands like Amazon and Walmart have proven this statistic, with the former attributing a colossal 68% of its global profits to RMNs, and the latter, a solid 12%, according to a report by Boston Consulting Group (BCG).

But are RMNs only within reach for the retail giants? A common misconception suggests that unleashing the potential of RMNs is only viable for the major players amassing an army of dedicated customers or boasting a vast network of brick-and-mortar stores. Nevertheless, the main ingredient in concocting a successful RMN strategy boils down to the fundamental principle of marketing – connection with the customer. That’s precisely what retail giants Home Depot and Kroger have masterfully executed through leveraging RMNs to bolster their profits.

Save Mart Companies (TSMC), though comparably a smaller player in the market, has successfully weaved its story around RMNs. The company, with its strategic number of stores and market areas, became a phoenix under new leadership, demonstrating that size doesn’t always matter in the retail world. The hiring of Tamara Pattison, a pivotal figure in the transformation, catapulted the adoption and execution of TSMC’s vision into a success.

The epoch of mobile technology cannot be overlooked when developing a successful RMN strategy. The partnership between TSMC and Swiftly, an emergent company providing RMN technology, amplified their digital connectivity with shoppers. As noted by Sean Turner, Swiftly’s Chief Technology Officer, the establishment of a robust digital connection with consumers is cardinal to the success of a solid RMN strategy.

While shopper engagement can assume variegated patterns, a unique feature of modern consumption is the quick, impulsive engagement via mobile versus more deliberate and planned engagement through desktop devices. This trajectory underscored the importance of crafting unique and engaging experiences across both platforms, encouraging brands to think on their feet and align with the rapidly evolving consumer behavior.

The presented engagement figures served as proof to potential suppliers that investing in an RMN could be a strategic maneuver. In the case of TSMC, their diverse brands catering to distinctive demographics made their RMN a magnet for suppliers, painting a vivid picture of the targeted market they would be able to reach.

In conclusion, the role of RMNs in uplifting both smaller and larger retailers’ profit margins is undeniable. However, the secret ingredient to an efficacious RMN strategy is not size, but understanding and efficiently leveraging customer engagement across all platforms. TSMC’s story serves as an apt example of this, demonstrating that nobody is too small to dream bigger and execute smarter in the realm of retail marketing.

 
 
 
 
 
 
 
Casey Jones Avatar
Casey Jones
11 months ago

Why Us?

  • Award-Winning Results

  • Team of 11+ Experts

  • 10,000+ Page #1 Rankings on Google

  • Dedicated to SMBs

  • $175,000,000 in Reported Client
    Revenue

Contact Us

Up until working with Casey, we had only had poor to mediocre experiences outsourcing work to agencies. Casey & the team at CJ&CO are the exception to the rule.

Communication was beyond great, his understanding of our vision was phenomenal, and instead of needing babysitting like the other agencies we worked with, he was not only completely dependable but also gave us sound suggestions on how to get better results, at the risk of us not needing him for the initial job we requested (absolute gem).

This has truly been the first time we worked with someone outside of our business that quickly grasped our vision, and that I could completely forget about and would still deliver above expectations.

I honestly can't wait to work in many more projects together!

Contact Us

Disclaimer

*The information this blog provides is for general informational purposes only and is not intended as financial or professional advice. The information may not reflect current developments and may be changed or updated without notice. Any opinions expressed on this blog are the author’s own and do not necessarily reflect the views of the author’s employer or any other organization. You should not act or rely on any information contained in this blog without first seeking the advice of a professional. No representation or warranty, express or implied, is made as to the accuracy or completeness of the information contained in this blog. The author and affiliated parties assume no liability for any errors or omissions.