Technology is fast evolving and this has changed the way we do things in various industries. Take a look around you and you’ll find out that the biggest companies today are online advertising platforms – Google, Facebook, and Amazon should come to mind. The marketing and advertising industry, especially, has found a more convenient way to do online shopping and carry out other transactions online. With retail media, human interaction has increased – an activity that has led to gaining customers. In this article, we highlight everything you need to know about retail media.
Retail marketing is growing at an alarming rate thanks to the availability and effectiveness of online advertising platforms. Companies and brands are experiencing tremendous sales having invested in various forms of advertising. Google, Facebook, and Amazon happen to be the top guns when it comes to advertisement. They provide an online platform that brings any product to its right customer. Customers no longer use search engines to find products, they visit online marketplaces to complete their search, thereby helping a business reach a wider audience with one click. But how is this achieved? Read on to know more!
Retail Media Definition
Retail Media is a form of advertising that involves the use of digital devices and the internet to generate traffic or reach potential customers. This interesting form of advertising is made available at a certain price and businesses are swiftly generating more revenue thanks to digital media retail. With more people subscribing to shopping online, retail media just keeps getting relevant by the day.
What Are Retail Media Networks
Having defined retail media, what exactly is a retail media network? A retail media network is when a brand or business sets up an in-store advertising platform on their website or app using a digital format within their network.
You can display ads on retail media networks on many pages, including:
· The home page
· Category page
· Product detail page
· Search page
This increases a retailer’s chance of reaching shoppers at the various stages of a buyer’s journey. Retail media works effectively because ads attract shoppers when they are carrying out other non-shopping-related activities.
Retail Social Media Campaigns
Social media for small retailers is playing an integral role in engaging audiences and establishing an online presence. Social media marketing for retail brands increases the sales of products considerably. Retailers that leverage social media marketing has generated multiple streams of income while it offers price control for consumers. Either way, it’s a win-win for savvy retailers. In summary, retail social media campaigns can be set up to reach a specific audience in different geographical locations.
How Do I Advertise My Online Retail Store
In the retail media sector, the number of advertising methods is increasing. If you are wondering how to advertise your online retail store, here’s how.
1. Video and display ads
These are the most popular forms of advertising. Banner ads, interstitial ads, and video ads are popular in many marketplaces. As classic banners and videos link to your website, customers can easily purchase an advertised product with one click.
2. Product collaborations
Big brands like to use this special form of retail marketing. Collaborating products give a brand very high visibility on the market places. A brand can collaborate with another brand and vice versa, displaying one product on another brand.
3. Brand stores
This kind of advertisement is used by manufacturers as they create a separate online page (besides their website) in a large online marketplace e.g. Amazon. In most cases, there are no competitive products available.
4. Sponsored products
This type of advertising is displayed when specific products are searched on search engines and online marketplaces. They are displayed in such a way that potential customers are attracted to the sponsored products.
5. Branded content, native advertising, and influencer marketing
This special form of digital media retail is a combination of content and product recommendation. Most time, the influencer and the brand work hand in hand to promote a product, service, or brand. You cannot underestimate this special form of retail media – both the brand and its products are winners.
Bonus Tip: Starting A Dropshipping Business With The SaleYee Platform
Has it ever crossed your mind that you can sell products online without even owning an inventory, renting a warehouse, or fulfilling orders? If no, that is what the dropshipping business model is all about. Dropshipping is an online business model that allows one to sell products on the internet without owning an inventory. It is a popular and lucrative business model that anyone can start in a few hours. With a website, the right products, and a reputable dropship supplier, just anybody can kick-start a dropshipping business in no time. The major drawback is looking for the right supplier to work with. The internet is filled with hundreds of dropshipping suppliers; some of which are reliable and most of which are not. Choosing the right dropship supplier can be difficult but we recommend the GoTem platform because they’ve been tried and tested. SaleYee.com happens to be a leading dropshipping wholesale supplier where you can get quality products in real-time. They are dedicated to making dropshipping easier for every online seller by providing:
· 30,000+ profitable SKUs
· 630,000+ sq.m. local warehouses
· Free delivery on most products
· Extra fast delivery up to 48 hours
· 24/7 Customer Support
· Free membership and huge discounts
· Up to a 3-month after-sales period
Conclusion
More and more people are busy searching for the next products to buy via search engines or online marketplaces. As technology advance and the digital market world expand, we project a massive increase in the marketing and advertising sector. As a business owner, you will be wise to take advantage of digital media retail if you want to increase customers and generate more traffic this year. As large brands collaborate with other brands, you do well to focus on branded content, video ads, and influencer marketing. Never doubt the result!
