Commerce media networks are more than just a retail phenomenon. Any company with rich first-party data can benefit from monetizing their assets. Today, brands in travel, automotive, gaming, and entertainment are seeing how commerce media networks can transform customer relationships.
In this episode of Here’s the Deal, Lori Johnshoy, Head of Commerce Media and Networks at LiveRamp, shares how commerce media networks are revolutionizing customer engagement. By activating first-party data and creating personalized experiences, businesses like yours can unlock new revenue streams, strengthen loyalty, and drive more targeted ads.
“Any company with a large amount of data should get into the media network space, but don’t go it alone. You need a partner that can support your vision,” Johnshoy explains.
Watch now to see how commerce media and the right partner can help you deliver more meaningful customer experiences.
Retail media networks are the go-to solution for retailers to drive profit, but they’re not the only ones getting in on the action. I’m Lori Johnshoy, Head of Commerce Media Networks for LiveRamp, and Here’s the Deal.
Retailers have strong consumer connections. A consumer heads to the grocery store and makes their weekly purchases. Then they also shop online for those items that they forgot and they’re part of the loyalty club. All of those are very valuable signals tied to a consumer and their behaviors.
Brands and products don’t have that direct relationship with consumers, so they’re very interested in understanding more and retailers are there to help.
So what a media network does is it’s a platform. It’s a platform that they can allow advertisers to use to connect with their consumers. Whether it’s online or in store or even off platform, they can create targeted audiences so brands and services can send their super valuable messages to consumers. And at the end of the day, all of that ties back to sales and behavior so they can truly measure performance.
Although retailers were the first to come and start monetizing their assets and their rich consumer data, they’re not the only ones. Other industries are getting in the game, whether it’s travel, automotive, gaming, and entertainment. All of those verticals have really critical information about consumers, too.
Let’s think about services like Uber. You just landed from your flight in. You look at how far you have to your destination and up pops food or dining recommendations. Right from the app, you can click, you can make reservations, or you can order food to show up at your hotel before you even make it there.
That’s a prime example of a commerce media network and how it supports the consumer experience. Not only does it benefit the consumer, it benefits the company because they’re also able to drive loyalty and the brands that advertise are able to get their products and services right in front of the consumer when it matters because of targeted advertising.
Any company with a large amount of data should get into the media network space, but don’t go it alone. You need to find a partner that can support your vision of your strategy for your media network. Someone who knows how to securely handle data and help you build the technology to drive performance and revenue for the future.
