How to Leverage On-Platform Retail Media
For brick-and-mortar retailers, retail media is more than just an industry buzzword—it's the future of advertising on e-commerce websites, apps, or social platforms.
It’s no longer enough for retailers to target shoppers in-store or online. Today, retailers must widen their scope by creating a connected shopping experience that connects both online and in-store, while prioritizing customer loyalty by driving repeat purchases. Sound like a tall order? Not with the right retail media platform—and partner.
Digital Retail Advertising Reigns Supreme
Long gone are the days where retail media was limited to in-store ads, sampling, loyalty cards, infomercials, and coupons. Today, retail media extends to ad placement on e-commerce websites, digital coupons on shoppers’ mobile phones, and everywhere in between.
While shoppers are still visiting their local brick-and-mortar retailers, they’re also interacting with them digitally. For example, on their phones before they leave the house (75% of Target shoppers start their shopping trips on mobile devices), while shopping in the store (nearly 9 out of 10 U.S. grocery shoppers use a smartphone in-store), and during the checkout process.
Bridging in-store with digital (particularly mobile and web) is essential to creating a cohesive customer journey. And connecting with customers begins with highly-targeted, personalized promotions—made possible with an on-platform retail media partner.
How To Leverage On-platform Retail Media
Here’s how retailers should leverage on-platform retail media now—and why it’s essential:
1. Optimize first-party data
Creating a high-quality, personalized shopping experience is only possible if retailers have detailed insights into who their shoppers are and what they value. One of the ways retailers can achieve this is by going directly to the source: first-party data is personal information that has been collected via direct interaction with users.
Unlike third-party data, shoppers have consented to giving retailers their information and retailers own it. This establishes a reliable, human interaction with consumers, allowing retailers to deliver a more seamless shopping experience—and create customers for life.
2. Deliver a personalized shopping experience
According to McKinsey surveys, 80% of customers want personalization from retailers and they’re willing to exchange personal data in order to receive more relevant offers matching their interests and purchase habits.
By leveraging first-party data, retailers can then deliver a highly personalized shopping experience, catered to their unique customers. This includes relevant product suggestions, desirable deals, and informative content about upcoming savings. Retailers can create tailored campaigns that deliver higher engagement, build lasting connections, and increase revenue.
3. Bolster your retail loyalty program
Today’s most successful retailers know that retaining loyal customers is far simpler and less costly than attracting new ones. For shoppers, a robust loyalty program translates to unique rewards and promotions that save them money—and help find more of the products they love.
Launch a Successful Retail Media Platform with Swiftly
When shoppers feel seen and understood, they’re more likely to return. In fact, 78% of consumers reported personalized content made them more likely to repurchase.
Ready to embrace the future? Contact Swiftly to learn more about leveraging on-platform retail media and driving long-term loyalty in the process.