With advertisers projected to spend upwards of $45 billion on retail media this year, launching a retail media network makes a lot of sense. However, it requires careful planning and execution amid a crowded marketplace. Here are five key steps you can take to establish a retail media network that drives transformational growth for your business.
While many CPG marketers now account for major consumer behavior shifts, the most successful seek to better understand and respond to trends in the context of their own product mix. Now a channel-agnostic approach to interpreting market signals most relevant to their own product mix is fueling smarter marketing decisions.
The pandemic dramatically accelerated the retail industry’s digital transformation. Large retailers had the technology and processes necessary to respond quickly, but others found their entire business models upended overnight. While some changes may go, what will stay is a renewed focus on building community in retail.
As ecommerce grows and expectations rise, experts say we can achieve Amazon-level service if we practice customer centricity. Many take this to mean putting the customer at the center of your business and provide amazing service. But customer centricity isn’t all about the customer – it’s really about the customer record.
A good Voice of the Customer program will help you improve your customer experience and gather insights that can be fed into a business strategy that resonates with their needs. Here are 6 steps to help you reach that goal.