Retail media can assist brands in finding a way to stand out in the crowded e-commerce market and reach customers.
Ads that appear on a retail website, app or marketplace at or near a point of purchase are considered retail media.
Choose a mix of all the major ad formats to see which one works best for your particular products and categories, not just one.
Brands are responding to customer demand and the potential for revenue. By 2026, the e-commerce market is expected to reach $5.4 trillion and account for 31% of retail sales. However, as more businesses compete for e-commerce market share, some realize that they may be left out in the cold.
The Increasingly Competitive Online Selling Landscape
There is a lot of e-commerce, especially on online marketplaces. Shoppers now have a plethora of options to choose from thanks to the numerous choices they can make online.
39 percent of consumers are willing to switch brands if the item they want is unavailable from one brand. If brands want to reach customers, they need to find better ways to stand out in the crowded e-commerce market. Retail media can assist here.
The Power of Retail Media
Ads that appear on a retail website, app or marketplace near or at a point of purchase are known as retail media. They are a potent tool for digital marketing that focuses on customers and displays content that is relevant to their interests. Using digital marketing, social media, and search, a successful retail media plan should follow a customer’s buying journey at key points.
Maintain Ad Diversity
Choose a mix of all the major ad formats to see which one works best for your particular products and categories, not just one. Amazon Advertising, for instance, offers a variety of ad formats, including:
Sponsored Products:
Drives traffic to product detail pages and promotes individual listings. They appear alongside or above organic search results and are shown to customers who are actively looking for terms associated with a particular product.
Sponsored Display Ads:
Displays your products to customers who have previously viewed them on multiple Amazon pages, competitor listings, and third-party websites and apps.
Sponsored Brands:
uses broad keywords like “running shoes” to reach customers who are looking around but may not be sure what they want to buy. A mix of ad formats lets you know which ones work best and ensure that your products are seen by customers at different points along their buying journey.
Optimize Product Listings
There must be a way for brands to make their product listings more visible. Make use of marketplaces like eBay that provide promoted listings.
Optimize Ad Content
This means using keywords that are relevant to the listing and including photos of the product that are crisp and clear and have backgrounds that are white or transparent. Customers will be drawn to well-maintained promoted listings.
Take Cues from Recommended Listings
Taking inspiration from recommended listings is yet another strategy for enhancing promoted listings. Based on information about buyer demand and popular searches, these listings have already demonstrated that they perform well.
There will be more competition for available space on online channels as more retailers enter the e-commerce market.
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