Retailers looking to provide retail media services must invest in relevant technologies and build a media network that brands wish to buy from.
For a retail media company, securing customer consent for the collection, use and storage of their data is imperative. This data must be stored in unified customer profiles that are synced across platforms.
These unified profiles are useful in segmenting customers based on shopping behaviours, transaction history and more, and they allow brands a greater ability to target users. The article recommends using the right ad-serving and supply-side technology partners.
A retail media company, to drive revenue and growth, must capitalise on the demand for first-party customer data. This can be done through audience monetisation initiatives. A retail media firm’s aim, while getting started, must be to unify data from disparate systems into a single customer view.
[3 minute read]