Retail Media Isn’t Just Lower-Funnel: We’re Bringing Discovery Back to Retail
5 min read
Posted on March 25, 2022
They way consumers shop has changed. Since the onset of COVID, shoppers have increasingly turned online to discover new products and make purchases. The rise of e-commerce led the way for explosive growth in retail media ad spending. Since 2019, ad spending has grown from $12.50 billion to over $41 billion in predicted spending for 2022.
Sophisticated retailers are reframing their e-commerce operations into major media platforms, but as more retailers launch their own media network, they must continually innovate to capture brand budgets and shopper attention.
Because the majority of shoppers’ journeys happen on the screen, not the shelf, shoppers increasingly turn to platforms like TikTok, Instagram, Pinterest and YouTube to discover new products, listen to reviews or educate themselves on a product’s features. Retailer relationships with their customers are eroding as more shoppers turn to social media platforms to find and purchase products. Retailers need solutions for product discovery that will also grow their retail media businesses.
InMobi Commerce helps retailers create high-impact video shopping experiences to bring product discovery back to retailers and provides immersive experiences that brands are looking for in retail media.
“Our video-led discovery and monetization platform helps retailers bring experiences that brands want, and retailers need,” says Inder Singh, Senior Vice President of InMobi Commerce. “Blending programmatic media with dynamic sight, sound and motion helps retailers reach the true value of their media, data and consumer access. We also help them provide brands with the tools they need to connect with shoppers and deepen their shopper engagement.”
Build Stronger Customer Relationships
Building a strong relationship with a customer as a retailer or as a brand makes them far more likely to continue purchasing from you and builds long-term loyalty. More than any other advertising medium, video ad experiences help people connect with what they see on screen.
Showing shoppers how a product simplifies their lives or how a brand’s values align with their own instills a trust that you provide solutions. In fact, a consumer’s positive experience with a video ad increases their purchase intent by 97% and brand association by 139%.
With InMobi Commerce’s video-led discovery and monetization retail media platform, retailers can transform their e-commerce sites into a source of product discovery, inspiration and education. And advertisers are given the ability to create ad experiences that effectively communicate their brand story and product value.
Diversify Your Media Mix
Historically, retail media has been driven by bottom-funnel sponsored search ads. Not only do video ads help cut through a cluttered search results page of “Sponsored” flags, but they play a significant role in influencing purchase decisions throughout a shoppers’ journey. c
InMobi Commerce’s platform is focused on providing retailers and advertisers full-funnel video ad experiences that create brand awareness, inspire new product usage occasions and help customers learn about and discover new products. Retailers can tap into upper-funnel advertising budgets that aren’t traditionally allocated to retail media spending, and brands can customize their message based on where a shopper is at in their purchase decision.
Enhance Shopper’s Experience
As customers are increasingly opting for online shopping, they expect to have the best experience with the retailers and brands they purchase from. Video ad experiences enhance the digital shelf and provide education and inspiration.