2023 will be the year that retailers and publishers forge more strategic partnerships to fuel better advertising.
The timing couldn’t be better. The entire digital ecosystem is under pressure. Consumer expectations are higher than ever – and advertising budgets need to perform without relying on third-party data.
Retailers bring a unique solution to the digital industry: trusted consumer relationships. With their popular loyalty programs and ecommerce hubs, retailers can directly attribute advertising impressions to in-store buying behaviors.
But retailers can’t act alone. They’re also building bridges with an array of publisher partners to further extend the reach and impact of their retail media offerings.
Looking at the year ahead, here are some ways retailers and publishers will be working together to shape a better future for digital marketing.
Retailers and Publishers Will Be Part of the Sustainability Solution
The digital ad industry is addressing real challenges caused by its carbon footprint. Retail media data can help publishers to direct ads to the most relevant households — reducing advertising waste. This results in less energy consumption.
Advertisers have a right to expect greater transparency and visibility throughout the media supply chain.
They’re asking: How can we be more strategic with our investments and support the environment at the same time? Retail media will play a key part in the conversation between publishers and brands.
“Attention Metrics” Will Be Put to the Test
Publishers will likely be asked to deliver against “attention metrics”—which aim to calculate the likelihood of attention paid to an ad placement.
With their visibility into sales, retailers can ensure attention metrics are meaningful to the bottom line. In 2023, look for retail media networks to affirm or debunk “attention” as a viable metric.
CTV Growth Will Be Fueled by Retail Media Partnerships
Audience fragmentation is making traditional TV ads less effective. Last summer, streaming media surpassed cable to become the largest share of TV viewing. In 2023, brands will shift television budgets to leverage the combined impact of retail data and CTV.
Connected TV keeps pace with current viewing trends, but providers also need the data to reach the right people with the right message. Retail media data will help fuel the creation of precision audience segments — and offer measurement against store sales.
Retailers and Publishers Will Forge a Consumer-first Future
In 2023, consumers will have more media choices, thanks to better digital partnerships between media companies and publishers. Competition and cooperation between companies will lead to new ideas and innovations.
Ultimately, it is consumers who will have the power. And prioritizing the consumer experience across publishers and retailers will help the media industry stay on track.
People are expecting a lot from brands and publishers. They want experiences that are seamless and fast, and brands want a good return on their investment. Let’s work together to build bridges between audiences, brands, publishers, and technology companies so that everyone benefits from the ad economy.