Retail Media Advertising: The Power of Shopper Data
In today’s digital age, advertising has evolved significantly, and retailers are now leveraging the power of shopper data to drive their marketing efforts. Retail media advertising, a growing trend in the adtech industry, involves retailers monetizing their online platforms by offering advertising opportunities to brands. By utilizing shopper data, retailers can offer targeted and personalized advertisements, resulting in increased engagement, conversions, and overall success for both the retailer and the brand.
UNDERSTANDING SHOPPER DATA & HOW IT BENEFITS ONLINE ADVERTISERS
Brands are constantly seeking ways to connect with shoppers throughout their purchasing journey, from product awareness to the point of purchase. First-party retail data, or shopper data, provides a valuable opportunity for advertisers to reach consumers with specific, tailored messaging precisely. This ultimately is what leads to better performance for online advertisers.
Specific to retail media advertising, shopper data refers to the vast amount of information collected from consumers during their shopping journeys. This data can include demographics, purchase history, browsing behavior, preferences, and more. With the rise of e-commerce and the increasing number of consumers making purchases online, retailers have access to an unprecedented amount of valuable shopper data for advertisers to tap into.
One of the key advantages of retail media advertising is the ability to reach the right audience at the right time. By analyzing shopper data, retailers can identify consumer preferences, interests, and shopping patterns. This allows them to deliver highly targeted advertisements to consumers who are most likely to be interested in the products or services being promoted.
A SUCCESS STORY IN LEVERAGING SHOPPER DATA FOR RETAIL MEDIA ADVERTISING
Recently, a national Medicare consultation company wanted to implement a campaign using shopper data. Simpli.fi’s partnership with OpenX, which unlocks Walgreens Advertising Group data, delivers advertisers with access to data from the largest retail loyalty program in the U.S., consisting of more than 100+ million shoppers. The campaign strategy included utilizing retail customer data from Walgreens, as well as Simpli.fi’s proprietary addressable targeting solutions to drive Medicare appointments.
The consultation company wanted to target an audience of senior citizens who recently conducted health-related purchases at Walgreens drugstores nationwide. Simpli.fi sourced a “health and habit driven seniors” segment from Walgreens Advertising Group based on their first-party data. Simpli.fi set up the campaign to deliver display ads to these exact users via an OpenX deal ID. The team launched the campaign to drive visits to the company’s website to book consultation appointments and download their complementary Medicare guide.
Along with taking advantage of the Walgreens Advertising Group data, the Medicare consultation company utilized Simpli.fi’s addressable programmatic solution to reach a relevant audience at the household level. With Simpli.fi’s Addressable Audience Curation tool, an audience in real-time based on location data and by choosing from more than 3,000 demographic variables.
The three-month-long campaign achieved an average click-thru rate (CTR) of 0.12% and drove numerous online conversions back to the client’s website. Throughout the campaign the Medicare consultation company saw an increase in appointments throughout the Las Vegas, DMA, highlighting the value of utilizing first-party data and household-level targeting to reach a specific audience with the right messaging.
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