CANNES – Retailers that sell advertising typically have deep troves of consumer data to help brands make better decisions about whom to target in campaigns. Their retail media networks can deliver improved results when combined with social media, such as the photo-messaging app Snapchat.
“Pretty much every retail media network, every manufacturer that we deal with, they are exceptionally ROI-driven,” John Eckhardt, director of global marketing science at Snap, said in reference to return on investment, a key metric for advertisers.
“They care about the methodology. They care about the networks that they’re on,” he said in this interview with Lisa Granatstein, editorial director of Beet.TV, at the Cannes Lions International Festival of Creativity. “They care about the way that their brand shows up, but more importantly, they care about the fact that they’re generating profitable growth by way of marketing.”
These results sit upon a measurement framework that helps retail media networks to analyze results across other media outlets, or what is known as off-site advertising.
“Measurement plays such an important role right now in all of media, but for offsite and for retail media networks, it’s incredibly important for every manufacturer to be able to justify the return that they’re generating back to the company,” Eckhardt said. “A whole stack of measurement solutions that allow for the media network to be able to demonstrate the value that they’re able to drive, co-marketed or otherwise, usually using proprietary data, is crucial to the long-term success of those partnerships.”
You’re watching coverage of Beet.TV’s Global Leadership Summit: Retail & Commerce Media, a Beet.TV Leadership Series at Cannes Lions 2024, presented by CMX, Criteo, LiveRamp & Snap. For more videos from this series, please visit this page. To view all of Beet.TV’s Cannes Lions 2024 content, please visit this page.
