Retail media is transforming the digital advertising landscape. So much, in fact, that some are dubbing it the third wave of digital advertising – an heir to search and social.
It’s predicted that by 2026, the retail media market will be worth $100 billion in the US alone, and account for 25% of total digital ad spend. If these predictions pan out, this “third wave” is going to be a big one, and you’re going to want to be apart of it.
To do so, you can’t sit still; the channel is developing rapidly and you need to move with it. As with any advertising channel, a key part of this is making sure that you’re running strong forward-thinking creative. This will give you the best shot at connecting with consumers and ultimately driving conversions.
So, let’s take a look at three creative strategies that you can be using to elevate your retail media campaigns and get the most out of this exciting, high-growth channel.
Keep retail and social media creative consistent
Retail and social media are often pitted against one another; put forward as two siloed-off channels bidding for your ad dollars. In reality, however, retail and social media are complementary channels that work best when both are in play.
Both channels offer advertisers different ways of connecting with consumers across the different stages of the marketing funnel. Buyers journeys have become increasingly complex, with many touchpoints across different online and offline channels. By running ad campaigns across both retail and social media – and tapping into the strengths of each – you’ll be able to better move consumers down the funnel towards a conversion.
This will work best when there is consistency between your retail media and social ad creative. The aim here should be to create a harmonious, cohesive brand story at the different stages of the consumer journey.
This doesn’t mean running the same creative on both channels. Different social platforms and retail media networks (RMNs) such as Amazon, Walmart Connect, Target Roundel, and Instacart each have their own unique ad specs and best practices that you need to optimize for. What’s needed is consistency. Consistency in terms of making sure that creative across the two channels look and feel united – pulling in the same direction.
Lean into video ad formats
Video placements are starting to become more and more common across different retail media networks. These range from sponsored videos appearing in product search results, through in-stream ads placed within partner Connected TV (CTV) content.
Video enables you to showcase your product in a much richer way; and when done right, can deliver stronger conversions. According to Amazon, advertisers using their Sponsored Brands video ad format saw a 108.1% increase in click-through-rates (CTRs) compared to those who used the production collection – an image-based format.
Since it’s still relatively early days for video ads on retail media, embracing the format early can give you a competitive edge. It’s almost a certainty that video will have an increasing presence across retail media networks as they develop, following the pattern of other digital advertising channels.
Also, it’s important to note that across retail media, there are opportunities to utilize video in areas outside paid ads. An example of this can be seen by including a video on your product listing page. Make the most of these opportunities also.
Personalize your ads by leveraging first-party data
One of the most appealing aspects of retail media from an advertising perspective is the fact that it enables you to leverage first-party data for ad targeting. This is a huge drawcard, especially since targeting capabilities across social platforms have been weakened due to a number of restrictions placed upon third-party data tracking.
This rich data opens up the opportunity to bring personalization back into your ad creative. For instance, you can look at SKU-level data to inform what products are featured in your creative and what messaging should accompany them.
The data provided by retail media networks comes right from the point of sale and gives a full map of shopper behavior on the online retailer’s store. Retailers with physical stores are able to supplement this online data by throwing offline in-store data into the mix.
Fully leverage this data to ensure you’re promoting the right products, to the right people, with the right messaging.
Explore how Shuttlerock can help your brand produce top-quality retail media creative
Here at Shuttlerock, we have the experience and expertise to help you elevate your retail media campaigns with quality creative. We’re an official Amazon Advertising Partner, and work with brands around the globe to produce impactful video ads that connect with online shoppers.