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Building an optimal retail media strategy to monetize your eCommerce traffic
This document discusses building an optimal retail media strategy to monetize eCommerce traffic. It provides key takeaways on why retail media will revolutionize online selling and best practices for optimizing a retail media strategy. These include ensuring a natural shopping experience, using AI for personalized and relevant ads, and efficiently managing advertisers. Retail media is a large, growing market that can be a win for retailers, advertisers, and shoppers if executed well.
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Building an optimal retail media strategy to monetize your eCommerce traffic
- 1. Building an optimal retailmedia strategy to monetize your eCommerce traffic Mirakl Ads
- 2. Product Director Mirakl Ads CustomerSuccess Director Mirakl Ads Clément Cosso Flavien Doré Billette
- 3. Takeaways At the endof this Masterclass, you’ll know ✓ Why Retail Media will revolutionize the way you sell online ✓ Real-life examples of what good and bad looks like ✓ Actionable best practices to optimize your retail media strategy, including: UX, ads relevance and advertisers management
- 4. Public | ©Mirakl 2023 Our approach to your success High quality, curated suppliers and partners to grow capabilities and fuel ongoing success More than 180 dedicated eCommerce experts to help you capture more growth, faster A complete suite of solutions to improve productivity, optimize supply chain, expand and grow Technology Expertise Ecosystem
- 5. Ads Retail media solutionoptimized for ecommerce and marketplace Target2Sell AI-powered product recommendations, sorting, and content Maximize conversion & monetize traffic Streamline supplier & catalog management Catalog Manager AI-powered supplier catalog onboarding and management Optimize & expand assortment, profitably Connect The highest quality ecosystem of 3rd party suppliers and technology partners Payout The global pay-out solution for marketplaces Mirakl Platform The industry-leading unified marketplace and dropship solutions A suite of connected solutions
- 6. Public | ©Mirakl 2023 400+ customers worldwide $6B+ 2022 Gross Merchandise Value +43% 2022 year-over-year GMV growth 750+ employees worldwide The world’s leading retailers choose Mirakl to revolutionize the way they sell online
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- 9. 91% of brandssee retail media as a key part of their advertising strategy. EMEA survey by IAB Europe and Xandr - Q4 2022
- 10. A big marketopportunity Retail Media is worth $100 billion globally in 2023 A high-margin activity With a 80% margin rate compared to the usual retail profit margin of 3.8% A fast-growing channel Projected to reach $130 billion globally by 2025 A +17% CAGR (2022-2025) Sources: Group M — Forbes — Marketing Drive — IAB … and sky is the limit Already topped print advertising, and expected to top TV Ads in the next years
- 11. In 5 years,Walmart will derive more profitability from Retail Media and services than from sales of merchandise at its 10k shops in the US. John David Rainey, CFO Walmart Retail Giants already see the impact of Retail Media
- 12. 5% In the comingyears, advertisers should invest ad budget equivalent to 5% of the value of their eCommerce sales, in retail media. Morgan Stanley, April 2023
- 13. By the way, whatis Retail Media?
- 14. Retail Media noun /ˈriː.teɪl/ /ˈmiː.di.ə/ Advertisingthat leverages retailer’s proprietary customer data to target ads campaigns at the point of purchase, on the retailer’s website.
- 15. RETAILERS A paradigm change BRANDS& SUPPLIERS WEBSITE SPACE WEBSITE TRAFFIC Publishers Advertisers Advertising Inventory Proprietary Customer Data
- 16. Formats Sponsored Product AdsOn-site Display Other Formats Retailer Website Retailer Website News Website
- 17. Driving shopper toaction at the point of purchase Increasing product visibility & shopper consideration while browsing On-site display Off-site advertising Boosting brand image and awareness CONVERSION CONSIDERATION Marketing Strategy AWARENESS Video Shoppable ads Sponsored products
- 18. Platforms for Publishers& Advertisers ADVERTISERS BIDS WINNING BID SHOPPER WEBSITE MIRAKL ADS ✓ Relevant ✓ Personalized ✓ CPC
- 19. Retail Media shouldbe a win-win-win RETAILERS ADVERTISERS SHOPPERS Additional revenue High-margin business Retail DNA respected Higher product visibility Increased sales Performance metrics More relevant ads Improved product discovery Seamless shopping experience ✓ Sustainable monetization strategy
- 20. But execution isof the essence
- 22. Your checklist foran optimal execution Natural Shopping Experience AI-powered Personalization & Relevance Efficient Advertiser Management
- 23. Your checklist foran optimal execution Natural Shopping Experience AI-powered Personalization & Relevance Efficient Advertiser Management
- 25. ❌ Quality ofsponsored products lower than the rest of the page ❌ Inconsistent layout for sponsored products ❌ Sponsored mention too close to the product image ✅ Consistent number of products in the sponsored row Sponsored
- 26. ❌ Banner atthe bottom of a search page low visibility ✅ Template and product packaging Trendy Styles Trendy Styles Trendy Styles
- 27. Impeccable Customer Experience Sponsored Sponsored BESTOF FASHION.COM | OUTLET Sponsored Sponsored Sponsored Sponsored
- 28. How to defineyour best Advertising placements?
- 29. No one evervisits the ‘canned peas’ product page. Sorry.
- 30. Experience Quality The 6 UXGolden Rules for Retail Media Quantity Rule 1 Respecting the page UX. Rule 2 Integrating the “Sponsored” Badge carefully. Rule 3 Securing highly visible areas for on site display, ideally over the fold. Rule 4 Using premium positions for sponsored products. Rule 5 Defining the optimal proportion of sponsored products on the page. Rule 6 Structuring sponsored products ads consistently for all pages & devices.
- 31. Your checklist foran optimal execution AI-powered Personalization & Relevance Efficient Advertiser Management Natural Shopping Experience
- 32. My Food Court MyFood Court ❌ Irrelevant sponsored product
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- 35. Personalized & RelevantAds ● AI-powered ● Optimized for relevance ● Personalized ● Born within Mirakl: works seamlessly with your entire product assortment, marketplace and owned AI-powered, dynamic campaigns for optimal performance.
- 36. Your checklist foran optimal execution Natural Shopping Experience AI-powered Personalization & Relevance Efficient Advertiser Management
- 37. New clients -The advertisers. New needs What do you sell ? ● Return on investment ● Website placements ● Digital platform ● Customer service
- 38. Select the bestapproach for your own needs Publishers easily monetize their long tail of advertisers and reduce internal operations for greater scalability, but have less control on commercialization. Advertisers can start advertising with no minimum budget required. Publishers manage their “tier 1” advertisers more efficiently, but need a stronger retail media organization. Advertisers carry no operational effort and still stay in control of their strategy. Self-Service Managed-Service +
- 39. The best-in-class platform forall your advertisers ● Retail expertise ● Marketing & advertising focused capabilities and reporting ● Made for business users
- 40. Your checklist foran optimal execution Natural Shopping Experience AI-powered Personalization & Relevance Efficient Advertiser Management
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