In this new world, advertisers will not be able to advertise based on your behavior on other websites, and even if targeting your current context (e.g. advertising flights when you’re reading about a holiday destination), without third party cookies they will not be able to measure the performance of those adverts across sites without third party cookies. At least not as easily.
Enter Retail Media!
Retail Media allows a brand to spend ad dollars on placement of a product on a retailer’s website to engage with customers who have high purchase intent, putting the right product in front of the right customer at the right time.
Retail Media also allows advertisers to directly measure increased share of voice by sponsoring and promoting specific items, and directly measure return on investment (ROI) since sales on an eCommerce website can be tracked with first party data in that session or across sessions too.
Many of the biggest retailers either already have or are building their own retail media platforms (e.g. Walmart, Target, BestBuy), and in fact Amazon’s sponsored products business made $26 billion dollars in revenue in 2021 alone! With massive funding, resources, and first party data to fuel the momentum, the big players can afford to build out Retail Media networks on their own, however many mid-market retailers don’t have this luxury.
At Particular Audience (PA), we use product data to understand the deepest relationship between items and browsing behavior, which means we can optimize a website to give customers personalized experience that matches their shopping intent, their context and onsite behaviour without violating personal data nor needing to use a single third party cookie. Neat right! Our Retail Media Platform uses the same personalization technology to predict the right product for the right customer, meaning that when advertisements are shown they are relevant to the customer and their shopping context.
This means more relevancy for the customer, more engagement for advertisers and more sales! All stakeholders benefit.
It goes without saying (but we’ll say it anyway) Retail Media networks are powerful because they drive a better consumer experience (CX) and greater customer loyalty while boosting vendor and retailer sales and bottom line.
Say Samsung wants to promote it’s latest television on a large consumer electronics website, Particular Audience can ensure placement of that television specifically in front of high purchase intent consumers looking for similar spec TVs. In this case, the brand benefits from the most efficient use of conversion focused ad spend, they grow their share of voice, the retailer montizes clicks and traffic on their site: gaining a high margin revenue stream in the process. Most importantly, the customer finds exactly what they were looking for, faster. Everyone wins.