Keynote: Retailers as Media and Data Providers
•Download as PPTX, PDF•
0 likes•30 views
Mike Feldman, Retail Media – Team Lead, Georgia-Pacific The trend of Retailers as Publishers continues to grow as new entrants and new capabilities come into the marketplace. How can marketers evaluate these opportunities in order to drive virtuous cycles of mutual benefit for their retailer partners, the shopper and their internal stakeholders? This presentation will dive into how Georgia-Pacific’s consumer business is navigating the trend, evaluating retail media opportunities on their total value and shifting internal roles to maximize the opportunity that retail media can provide.
Recommended
More Related Content
What's hot
What's hot (18)
Similar to Keynote: Retailers as Media and Data Providers
Similar to Keynote: Retailers as Media and Data Providers (20)
More from MediaPost
More from MediaPost (20)
Recently uploaded
Recently uploaded (20)
Keynote: Retailers as Media and Data Providers
- 1. RETAILERS AS MEDIA AND DATA PROVIDERS Mike Feldman Retail Media, Team Lead
- 2. About Me
- 3. About GP 25% 30% 15% 7% 7% All Other 16% Estimated Paper Tons Sold in 2017 Total U.S. & Canada Retail Bath Tissue, Towel & Napkin (Excl. Facial/ AFH)
- 4. The Big 3 WHY is this trend happening? How to get INVOLVED How to EVALUATE
- 5. Retail Media Trend Source: Raymond James Research Where do you typically start when searching for a product online?
- 6. Why it Matters FOR RETAILERS FOR CONSUMERSFOR GEORGIA-PACIFIC Why it Matters
- 9. Typical Campaign Marketing Objective Media Strategy Target Audience Recommended Tactics MARKETING OBJECTIVE MEDIA STRATEGY TARGET AUDIENCE ENCOUNTER EXPLORE BUY SHARE
- 11. GP Marketing Organization Creative Brand Design Brand Content Retail Content Production Pixel Content Agency Attention! Media Agency Consumer Experience iCX Experiment ation iNK Design Agency Media Brand Media Retail Media Social Media Consumer Promotions CRM Consumer Database Marketing Technology eMail Marketing
- 12. The Path Forward
- 13. Thank You!
Editor's Notes
- Personal background working through ad agency and then coming to GP. GP is the largest company you have never heard of. Talk about total portfolio including building materials and that between our branded and private label business, GP is the largest paper manufacturer in the US.
- Personal background working through ad agency and then coming to GP. GP is the largest company you have never heard of. Talk about total portfolio including building materials and that between our branded and private label business, GP is the largest paper manufacturer in the US.
- Big 3 Things Why the trend is happening How to get involved How to evaluate
- More commonly this trend is called Retailers as Publishers. But for a few reasons (mainly that it confuses my internal stakeholders) we have rebranded this to Retailers as Media and Data Providers (right to the point!). More consumers are using these retail sites to not only buy products to but do things that they would with a publisher. They are researching products and even adding their own content in the form of ratings and reviews. Depending on the study we see reports showing that anywhere between 40%-70% of shopping trips (whether final purchase is online or in-store) starts online. Retailers are now becoming large publishers. According to comScore, Amazon and Walmart are now both in the top 20 most viewed websites with others like Target not far behind. Also worth monitoring the significant growth of some concierge platforms like Instacart.
- For GP: When managed effectively, manufacturers have seen an increase in sales as a result of better integration with retail media. Additionally, this opens up additional trading variables in negotiations when retailers are integrating these capabilities into their P&L. Additionally, for CPG companies like GP that don’t have a robust D2C business, the retailer holds most of the 1P data for the category. That 1P data enables better targeting and better measurement of the effectiveness of the campaigns. For Retailer: Retailers are using their media and data capabilities as an additional revenue stream. Just look to the recent news with WMG moving away from Triad and bringing their media capabilities in-house. They looked at how Amazon Advertising has been showing tremendous growth rates in revenue for Amazon and are looking to mirror that model. For Consumer: Relevancy of messaging/content enhances the consumer experience for shoppers. Additionally, with this trend retailers are investing in their digital platforms to provide a seamless/frictionless experience for their consumers to engage.
- Investments in Retail Media have been outpacing digital as a whole across the CPG landscape GP has followed this trend as retail media has grown as a percentage of our total digital investments YoY As mentioned before, one of the main reasons we have followed this trend is the ability to leverage the retailer’s first party data to more effectively reach the right target audience with the right content (or creative message) in the right context (environment, place within their shopping experience) *Time depending I can show our National Toilet Paper Day campaign we ran with QN and Amazon. It is slightly older than I want (2016) but was not able to get approval for more recent 2018 executions.
- One primary benefit is better targeting, better measurement which then leads to better optimization. Depending on the retailers, they have these capabilities across all major channels including search, display, video and are more recently expanding into Social Platforms. Large trend is pushing into the OTT space with enhancements to Amazon Fire TV, Vudu and others. GP is leveraging these abilities to improve the efficiency and effectiveness of our campaigns and generating more profitable returns which makes my key stakeholders very happy.
- One primary benefit is better targeting, better measurement which then leads to better optimization. Depending on the retailers, they have these capabilities across all major channels including search, display, video and are more recently expanding into Social Platforms. Large trend is pushing into the OTT space with enhancements to Amazon Fire TV, Vudu and others. GP is leveraging these abilities to improve the efficiency and effectiveness of our campaigns and generating more profitable returns which makes my key stakeholders very happy.
- While we often look to compare Retail Media opportunities to other national media alternatives in the marketplace (like a Facebook or Google), it doesn’t show the full picture. We are in the process of developing a scorecard to share with our key stakeholders on a quarterly basis. Here are some of the key areas: Data: What unique data is the partner able to provide including more information on the consumer (demo, repeat, behavioral) to help with our strategy at the retailer. We also look for the ability to track from online to in-store. Targeting: Purchase-Based, Behavioral, Keyword, Contextual, etc. that is differentiated from national alternatives. Integrations: Do these partners have the ability to tie into our existing platforms like our DMP. Moving forward we also look for willingness to include open API’s to enhance other areas like reporting and automation. Measurement: Ideally closed loop sales lift attribution leveraging control and exposed audiences but we also look for partners to add additional measurement tools or partners such as NCS or IRI helping with total market sales impact. Relationship: How are these investments integrated into the P&L. Are we able to make different decisions with our Trade or other investments if we invest more in Media. Are we able to leverage the spend to get incremental activity such as feature and display. Value: It all starts here. These would be the most common metrics including ROI, Efficiency, Viewability and even the ability to do alternative pricing models (like a CPA).
- GP has recently restructured our organization to better match these trends. We have separated out Retail Media as a hybrid between Brand Media and Shopper Marketing. I would most closely equate the Retail Media team to Performance Marketing in other organizations. I also wanted to call out some of our in-house capabilities including in-house creative and in-house programmatic display buying. This has enabled us to have quicker experimentation from both a creative and execution standpoint so that we can match the latest trends of moving at internet speed. Because Retailer’s hold so much 1P data, the level of impressions/spend needed for statistical significance tends to be lower so we are able to use those quick feedback loops for more testing iterations.
- This space will continue to grow and with it, the Retail Media team at GP continues to expand. The space is growing in two ways. Retailers are building out additional capabilities like self-service so we have brought in display traders. Measurement opportunities also continue to grow so we have shifted analytics roles in the organization to specifically help out with this trend. More retailers are also entering the space. There are several fast-followers that look at the success of Amazon, Walmart, Target and Kroger and are looking to get into the mix. It is important to assess all capabilities and compare it to your other alternatives in the marketplace. Additionally, I have had the opportunity to talk to a few retailers as they build these capabilities out and I would highly suggest looking at the scorecard to ensure you are creating the maximum value for their potential investors. Also an opportunity for retailers to think bigger like Amazon has. Amazon has just as many endemic and non-endemic advertisers. An example is a company like BMW invests in Amazon. Not that you can buy BMW’s on their platform (which would be awesome) but they are leveraging Amazon’s robust 1st party data set for better advertising and driving it to their own properties.
- Q&A