The growth of media networks is one of the hottest stories in marketing, with more than 200 networks emerging in recent years in the retail space alone.
The media network landscape is constantly changing, too, as niche networks proliferate and the industry incorporates different advertising formats such as livestreams. The evolution of networks offers advertisers more opportunities to reach audiences in more targeted ways, while also creating a complex landscape of choices.
Here are seven tips for navigating media networks.
Unearth data gold
Media networks are built on the promise of applying their first-party data, but the quality and depth of this data can vary significantly.
Amazon Ads, for example, has access to incredibly granular purchase data, browsing history, and product reviews, while a smaller network like Kroger Precision Marketing might have more limited data sets focused on grocery purchases and loyalty card activity. When evaluating a media network, ask about the recency of the data, segmentation capabilities, and data sources. This granular understanding will help you assess if the network’s data aligns with your target audience and campaign objectives.
Be mindful of data compliance in the era of consumer privacy. Inquire about the network’s data collection and usage policies, how they obtain user consent, and their data anonymization and security practices. Walmart Connect emphasizes its commitment to data privacy by providing transparency about its data collection practices and giving customers control over their privacy preferences. Choosing networks that prioritize ethical data handling mitigates risk and builds trust with consumers.
Spend wisely, and measure ruthlessly
Don’t spread your budget thinly across numerous media networks. Adopt a test-and-learn approach. Start by allocating budget to a few promising networks based on your target audience and campaign goals. If you’re a beauty brand targeting Gen Z, you might test Ulta Beauty’s UB Media. Implement tracking mechanisms to measure key performance indicators such as website traffic, conversions, return on ad spend, and brand lift. This data-driven approach helps identify which networks are driving the best results.
Once you have initial performance data, optimize your spending strategy. Shift budget towards the top-performing networks and consider reducing or pausing campaigns on underperforming ones. Don’t be afraid to experiment with different targeting options, ad formats, and bidding strategies within each network to further improve efficiency. If you find that video ads on Instacart Ads are driving strong engagement, you might want to increase your investment in that format. Continuous monitoring and optimization will maximize your return on investment.
Integrate with your infrastructure
Evaluate the network’s integration capabilities with your marketing technology stack. You need a seamless data flow between the network and your customer relationship management tool, analytics platforms, and other marketing tools to get a holistic view of the customer journey. If you’re using a customer data platform, ensure the media network can integrate with it to enable data sharing and audience segmentation. This integration allows you to use your first-party data with the network’s data for more effective targeting and personalization.
An effective API that integrates with your own system can help you work far more effectively, whether you’re automating tasks such as campaign management or synchronizing data. Best Buy Ads, for example, provide APIs that enable advertisers to programmatically access campaign performance data and automate bidding strategies. Prioritize networks that offer flexible integration options and technical support to ensure a smooth and efficient workflow.
Embrace emerging ad formats
Media networks are constantly innovating with new ad formats, from livestreams to interactive video ads that let viewers engage with the content. Not all formats will work for you, though. Carefully evaluate which formats align with your target audience’s consumption habits and your campaign objectives.
New formats often require different creative approaches and production expertise, too. Interactive in-flight ads, for instance, might necessitate specialized video production or game development skills. Ensure your internal team or agency partners can produce effective creative assets for the chosen formats. Can you produce enough high-quality creative variations to sustain campaigns across different networks and over time? Understanding these factors will help you make informed decisions about which emerging formats to embrace.
Look beyond the usual suspects
While major players like Amazon Ads capture most of the headlines, don’t overlook the potential of niche or specialized media networks. Smaller specialty networks often cater to specific industries or demographics, offering access to highly targeted audiences. If you’re a home improvement brand, Lowe’s One Roof Media Network can help you reach DIY enthusiasts and home renovation professionals.
Explore opportunities for direct partnerships with networks whose customer base aligns with your target audience. This could involve co-branded marketing campaigns, exclusive product placements, or joint loyalty programs. A fitness apparel brand might partner with a sporting goods retailer to offer exclusive discounts to the retailer’s loyalty members. Such partnerships can provide access to valuable customer data and create unique marketing opportunities that go beyond traditional advertising.
Bridge online with in-person
Don’t neglect the power of in-store advertising if applicable to where your brand shows up. In-store media is experiencing a breakthrough, fueled by innovative technologies and a renewed focus on the physical shopping experience.
Walmart Connect is bridging the gap between online and offline shopping behavior. The brand is piloting technologies that track in-store shopper behavior, such as dwell time at specific displays and product interactions. This data can then be integrated with Walmart Connect online to create a more comprehensive view of the customer journey and enable more targeted advertising both online and in-store. You could use this data to trigger a personalized offer on a nearby digital screen, encouraging the shopper to make a purchase. This integration of online and in-store data holds immense potential for creating a more seamless and personalized shopping experience.
Ask how in-store media can complement your broader retail media strategy. You could use online ads to drive customers to a physical store, where targeted in-store displays reinforce the message and encourage immediate purchase.
Test and learn to win
Brands that listen to feedback and adapt their strategies will benefit the most. Always listen to feedback to improve your approach, whether it’s refining advertising copy, adjusting bidding strategies, or re-evaluating your channel mix. And with AI as your copilot, you will build and optimize faster than ever.