AMENIA, N.Y. – Retailers that sell advertising have grown more sophisticated in their understanding of what marketers and agencies demand from their media partners.
“They’re looking at what the buyer’s needs are, how the buyer workflows are happening today, and how they can help kind of ease those pain points and friction points in the buyer workflows,” Cassidy Diamond, vice president of brand partnerships and demand facilitation at ad-tech company Magnite, said in this interview with Beet.TV contributor Rob Williams at the Beet Retreat Berkshires.
“Publishers are great partners for these retail media networks,” Diamond said. “They’re looking for ways to expand their reach and expand their output.”
Retail media networks, which also can be described as commerce media outlets, can play a key role in the growing area of ad-supported connected television. Their collaborations help advertisers to engage consumers throughout different stages of the purchase funnel, from awareness at the top down to a final sale at the bottom.
“The most exciting aspect of streaming and commerce coming together is really that ad-supported is becoming the most popular way for viewers to view, and that’s scaling out rapidly,” Diamond said. “There’s an opportunity to create more immersive storytelling, to get richer, creative, to communicate more effectively with each of us as consumers.”
Recent examples of collaborations between commerce media and retailers include consumer-electronics chain Best Buy and tech-review website CNet.
“That affords them the opportunity to connect into these high potential buyers, and I think that means more value for everyone involved,” Diamond said. “You’ll see more and more of these strategic partnerships come into play wherever the brands have more of a single access point to a broader set of partnerships, and then that will make the revenue open up again.”
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