Bring retail media beyond the storefront.
If retailers know one thing for certain, it’s that consumers don’t shop like they used to.
Fundamental shifts in behavior have put in-store foot traffic at an all-time low, but it’s not all black and white. While pickup, delivery, and ecommerce solutions abound, brick and mortar is by no means dead—and the line between digital and in-store is more blurred than ever.
The majority of shoppers fall into the hybrid category, picking and choosing when to turn to digital, when to browse the aisles themselves, and when to look to tools that let them do a little bit of both. Brick-and-mortar retailers cannot just compete with traditional advertising toolsets—in-store signs, point-of-purchase displays, and on-the-shelf discount tags that make up the so-called retail media category—they are trying to compete with bolt-on solutions and other digital add-ons that help fill the gaps to meet consumer expectations from online to in-store.
But these bolt-on solutions do just that: fill the gaps. They don’t connect the dots, or revenue streams. If retailers want to win, they need a holistic platform that connects digital to in-store, owning the customer relationship from end-to-end, and opening new sources of revenue that belong entirely to them. In turning to outsourced solutions that solve independent needs, you won’t just lose out on possible revenue, you’ll dilute consumer interest in your brand—and lose the race entirely.
All of this starts with adjusting the definition of retail media. By owning a digital retail media network, you can take comprehensive control of your retail transformation, and ultimately, come out ahead.
Shifting your retail media mindset
Today, partner brands probably advertise on retail websites. They may even buy limited ad space on an app. We’re willing to bet they offer digital coupons, but not much more. While big players like Amazon and Walmart rake in billions in revenue across their retail media networks, some have been left without a stake in the game.
The good news is this: it’s not that retail media doesn’t work for brick-and-mortar anymore, it’s that it doesn’t work like it used to. To catch up, they need to be able to do three key things:
- Engage customers before they get to the store. As consumer behavior continues to evolve, every physical storefront will need a new kind of retail media network to compete effectively—one that reaches consumers well before they reach the checkout stand. By engaging customers before they step foot inside, retailers can better prepare them—letting them know what’s on sale, what promotions are happening, and how they can capitalize. Pre-shopping engagement can account for measurable increases in sales and satisfaction—positioning retailers to set, and then exceed, every customer’s shopping trip expectations.
- Own the customer experience at every stage. In the old world of retail media, the customer journey ended when the customer left the store. With digital channels open 24 hours a day, and with a preferred point of access constantly in consumers’ hands, that’s no longer the case. Owning the customer experience means more than connecting to consumers before they leave, it means never losing them at all. Brick-and-mortar need digital retail media that allows them to create a continuous, closed loop customer communication, staying in touch with consumers whether they’re in the planning, purchasing, or post-purchase stage—and ensuring they don’t need to leave the network for another solution along the way.
- Meet modern customer expectations. It's simple: given the way consumer behavior has changed, brick-and-mortar won’t just struggle to meet consumer expectations if they’re slow to change—they won’t meet them at all. Without adapting, retailers can’t deliver on baseline customer expectations, and looking elsewhere will be consumers’ only choice. They need digital tools to transform static purchasing transactions into engaging, interactive, personalized customer experiences. Retailers need a way to leverage a combination of advertisements, paid promotions, and other interactive features, creating a virtual engagement hub that brings customers the range of content types they’re accustomed to. From static ads to videos and more, retailers need to be able to provide consumers the dynamic digital experiences they seek and expect, or risk being left behind.
Retailers may have all these pieces now. But they’re not all connected—and you’re missing out on valuable returns by ceding control to other applications.
While brick-and-mortar have been left to tie together tools that each solve partof the problem, we’ve been building a platform that can solve it all. For the first time since the Amazon-fueled retail media explosion, there’s an option designed specifically for brick-and-mortar retailers. One that reimagines the retail shopping experience, brings the best of digital to your doorstep, and enables you to do all of the above, all on your own.
Setting a new standard for digitization
Swiftly is the only platform that delivers on Retailer, Brand and Customer ever-changing needs. Retailers generate new revenue from advertising dollars, Brands get better analytics and higher return on ad spend and Customers get a personalized, connected shopping experience from online to in-store. With Swiftly, online and app-based retail media isn’t just discounts or banner ads anymore, it’s everything—and it does it all smarter.
The platform’s AI-based capabilities allow retailers to get closer to customers than ever before: recognizing purchasing patterns down to the barcode, tracking consumer preferences over time, and automating targeted messaging that doesn’t just grab customer attention, but translates it into action. Swiftly can intelligently tailor a retail marketing strategy to each individual and maximize the result of every visit.
While competitors stick to online-based coupons and newspaper cut-outs, their brand partners work within limited ad-spaces, and their in-store traffic remains static, there is an option to leapfrog ahead. Swiftly partners using the platform generate 40% more trips to the store and more than 10% increases in same-store sales. Retailers drive results from digital advertising and can now compete with the likes of Amazon and Walmart. And no, it’s not too good to be true.
Millions of consumers use Swiftly every day. And by the end of 2021, Swiftly retailers and customers will have clipped one billion coupons. Put simply, retailers can create a better customer experience and take over a new category all at the same time—and only Swiftly can help do it.
● Make the change. Retailers know it’s time to adapt to digital trends and invest in technology, but the path to success can be intimidating. Swiftly provides an easy-to-implement, full technology stack, helping them launch into a new landscape—and win once there.
● Stay in control. Swiftly isn’t a digital replacement—we’re a digital partner. Rather than outsource control to an external application or bolt-on solutions, retailers can bring the transformation in-house and implement thier own advertising network from the ground up, without giving anything up.
● Monetize more customer interactions. Brick-and-mortar retailers have something special: a customer base. Whether visitors live close by or had a positive experience that rendered them their go-to, the existing customer-base is an asset—and it’s time to leverage it. Swiftly helps start a whole new customer conversation and relationship, building it up in a way retailers haven't been able to before.
● Unlock better data. The AI-powered platform builds in first-party data reporting and analytics, enabling the ability to track purchasing patterns and other valuable sales data down to the SKU-level (tied directly to POS). It’s not just about creating new revenue streams—it’s about making the most of the sources retailers already have.
As adjacent sectors speed ahead and retailers struggle to keep pace, sticking to advertising trends and digital fixes of decades past is no longer a sustainable option—and getting up to speed looks very different than it did a year ago. Fortunately, shifting your mindset is the first step.
Getting started with Swiftly is easy. Contact us today to learn more.