Commerce media. You’ve likely heard the term bandied about, but you probably aren’t sure exactly what it means. So, what is commerce media? Well, let’s take a look at a prime example of commerce media in action: Amazon.
From the minute you open Amazon’s site, you’re hit with, “Buy it again” or “Related to the items you’ve viewed,” or “Inspired by your shopping trends” alerts showing you products relevant to your shopping behaviors. When shopping on Amazon—for food, clothes, gadgets, beauty products, or anything else—the site collects your data to determine exactly what kind of shopper you are. They’re looking at what brands you like, what products you’re ordering, what items you’ve searched for, and anything else that will help them offer you a personalized shopping experience that makes you want to click “Buy.” In other words, they’re advertising directly to their customers based on their customers’ activity on their site, working to drive sales and conversions.
That closed loop we just described essentially defines commerce media. It blends the digital activities related to buying or selling products online and in-store, with media, or more specifically, the digital advertising channels displaying promotional content. Included in the mix is access to first-party data combined with AI capabilities. The result? A fresh approach to digital marketing facilitating continuous communication between retailers and consumers throughout the entire shopping journey.
As third-party cookies become obsolete amid rising privacy concerns, commerce media is an important tool for retailers looking to deliver the personalized shopping experiences customers crave—without violating their privacy. And with Amazon (and other big-name brands) already ahead of the game, brick-and-mortar retailers must incorporate commerce media into their strategy or risk falling too far behind the competition.
Commerce data and artificial intelligence
A key component to commerce media is commerce data. In short, commerce data is the collection of purchase and intent data providing insight into consumers’ shopping behaviors. It typically includes detailed information about a shopper’s demographics, location, pages and products viewed online, last product purchased online or in-store, ad clicks, and more. And again, as we move away from third-party cookies, first-party data—or data collected from your brand’s own website or app—will provide the commerce data sets relevant to retailers.
When commerce data is combined with AI, you can identify your consumer base’s interest and intent patterns, allowing you to show shoppers personalized ads and product recommendations for both online and in-store purchases. Swiftly-powered retail networks harness the power of AI to do just that, enabling brands to reach more shoppers and build strong digital relationships with customers—and build brand loyalty in the process.
Connecting with consumers throughout their entire shopping journey
While consumers want more control over who can access their data (hence the collective farewell to cookies), they still want a shopping experience catered to their individual needs. With commerce marketing, you can engage the consumer throughout every part of the shopping experience, starting from the moment they type “chocolate chips” into the search bar to when they’re checking out at the kiosk to when they’re at home thinking about their next dessert. Commerce media is a vehicle through which you can connect with your shoppers during the planning, purchasing, and post-purchase stages, to show them the ads, promotions, and products you know they want to see.
Driving commerce outcomes
The goal of commerce media? To result in a bigger basket come checkout time, of course. But more than that, it’s to build a relationship with shoppers that inspires loyalty to your store. When you use commerce media to show the right ads in the right places—ads that are relevant to your shopper and incentivize them to shop—you’re essentially letting customers know you understand and care about their needs. When a customer feels seen and heard by a retailer, they’re much more likely to start shopping exclusively at that store.
But with all that said, how do you actually implement commerce media strategies for your store?
Swiftly understands the value of commerce media and how to take advantage of it. Our digital retail networks will allow you to give your shoppers a personalized experience throughout their entire shopping journey while prioritizing their privacy, and helping ensure customer satisfaction and loyalty. To learn more about how you can work with Swiftly to help boost your store’s sales, contact us today.