Larissa Dannenberg, Vice President of Consulting at Market Performance Group, shares her views on how brands can best work with Retailer Media Networks.
Retailer Media Networks (RMNs) are an emerging vehicle with many of the nation's largest retailers. After years of watching Amazon build out their massive advertising business, many retailers have responded by building out their own advertising platforms. How a brand should approach and work with these new media options is the focus of our discussion with Larissa. She provides insight and counsel around the following topics:
- Brick & mortar retailers have a massive footprint (stores) - RMNs help them capitalize on this advantage
- Don't jump into multiple relationship with RMNs until your basics are covered: PDPs (product detail pages) are optimized, your image carousel is current and communicates your brand benefits, etc.
- Brands need to completely understand what they are getting into with these relationships. Understand fulfillment, attribution expenses - understand your "all in" cost of doing business
- Select one account that has an excellent shopper match to your brand demographics and go deep. Figure it all out with one account- then expand.
- RMNs are strategic initiatives for these retailers - so understanding how to best work with these platforms to grow your brand will become increasingly important
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