In this edition, we're explaining why too much of a good thing (shoppable content) can hinder brand goals. Not everything needs a "buy it now" or "add to cart" button. Plus, updates from Macy's, Rokt, Lowe's, ShopRite and GroceryTV.
Hello, and welcome to another edition of Unfold, the retail media newsletter from the experts at Threefold.
ICYMI: In July, we gathered industry experts from Georgia Pacific, the Path to Purchase Institute, Threefold and SMG to chat about the evolving world of retail media technology in our webinar, The Power of Three: Leveraging Technology for Retail Media Success. If you weren’t able to attend, we’ve uploaded it here in its entirety on Threefold’s Resources Hub so you can still get these best-in-the-business insights.
In each edition of Unfold, we break down a retail media myth we believe is holding industry growth back, and we provide the insights (backed by our 15+ years in the business) to explain why that’s not true. So join us, and let’s unfold.
This week, we’re breaking down the myth that everything, everywhere online needs to be a shoppable moment. It’s easy to see why this myth has become so pervasive in the industry. Technology has evolved and enabled more advertising opportunities than ever across the entire path to purchase, creating more shoppable opportunities. Hey, presto! Now we can turn every communication touchpoint into a click-to-cart experience. Hooray, ad tech!
As we tend to do as an industry: we over-correct. Not every media touchpoint is a touchpoint that needs a “buy now” or “add to cart” button. Not everything needs to be shoppable and transactable to be effective in moving consumers to the point of purchase. Consumers have limits when it comes to advertising, and it’s up to brands and their media partners to ensure that those limits aren’t reached. If a brand’s digital messaging is oversaturated, consumers will – at best – tune out the messaging entirely. At worst, shoppers may develop a negative association with the brand and feel like they’re being bombarded or followed around the web with irrelevant or improperly timed advertising that worsens their media consumption experience.
The shoppable format advancements in the digital media space are certainly exciting. According to EMARKETER research, more than half (57%) of ad agency professionals believe that shoppable video content is the next frontier of retail media. Which makes sense, right? Most media is consumed in video format – short and long – so shoppable media has naturally followed suit. At Threefold, we’re excited by the potential of shoppable video when combined with robust first-party data from Retail and Commerce Media Networks. But that doesn’t mean the data should be used to only create shoppable units at all points of the consumer journey in a campaign. Advertising, as part of a larger brand comms strategy, must be served in appropriate places and at times to be effective.
At Threefold, we’re steadfast in our belief that the best retail media takes both a data-backed and creative approach that results in the optimal media mix, enabling brands to reach the intended consumers, at the right place and at the right time across the shopping journey.
The best advertising is personalized, but unobtrusive. It reaches across the path to purchase, but it’s not bothersome. It’s endemic to the channel format, but also messages the relevance for where you are in your consideration process. Getting this media mix right, including in-store, off-site and online, is key to ensuring the intended message lands with consumers and delivers against campaign goals.
All we’re trying to say is … don’t lose sight of the art just because we have a little more science these days. Effective advertising campaigns need a balance of both and those at the frontier will get this right.
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About Threefold
Founded in 2008, Threefold is the world's leading Retail Media Network (RMN) specialist, headquartered in both New York and London. As part of the SMG agency network, which employs nearly 400 retail media experts, Threefold's primary mission is to unlock incremental brand and supplier budgets, curate media campaigns that supercharge sales and elevate its retail partners into top-tier omnichannel media owners, spanning in-store, off-site and online.
Threefold's services include the leading Retail Media Operating System Plan-Apps, consultancy and a white-label in-house solution that has seen the agency build, run and operate over 10 Retail Media Networks to date. In the UK, Threefold runs and operates Walgreens' Boots Media Group, ASDA’s LS Eleven Media Services, Co-op Media Network, Morrisons Media Group and retail media for The Very Group.
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