Thanks to all of the amazing guests who made it to The Ultimate Asset eCommerce and Retail Media Round Table Dinner at Barrafina last night and made the evening such a fun and informative networking event!
Jonathan Lewis-Jones Nicola Hollow Geoff Richards David Billings Sue Stephenson Diane de la Baronniere Laura Badea Jason Wescott Dominic Perkins Neil Dulake Tarun Naipaul Prateek Gupta Alex Swain
Some of the topics we talked about included:
eCommerce should be holistically integrated in the media planning and buying process and could eventually be made redundant as a standalone discipline in marketing departments and media planning agencies in the next few years, as it becomes a more mainstream route for brands.
We debated what the perfect end-to-end eCommerce partnership looked like and best practices with some great examples with the IAB and Kimberly Clarke and OMG being cited among others.
Retail Media are the new media owners and could learn more from existing publishing businesses on how best to utilise their assets to create more engaging native experiences for consumers – however different organisations are at different speeds and there’s a balance of user experience in term of interrupting the user journey designed to sell goods with commercial media and advertising opportunities.
Don’t underestimate the power of livestreaming social video with Influencers on TikTok and Instagram to shift product – with some deeply impressive numbers – trust and authenticity is key. Amazon have jumped on the TikTok and IG bandwagon in the US with some great case studies.
The real word shopping experience is still important! The gap between bricks and mortar and eCommerce still exists in terms of measurement but is improving in terms of attribution.. Despite the demand for continuity, technology & marketing teams need to work closer together as in some organisations things are still siloed and separate.
Tesco has over 21 million points of consumer data out of the 28m in the UK market. 76% of all wine in the UK is bought through Tesco!
Retail Media is reliant on a good consume data – to achieve this, creating the perfect value-exchange in terms of giving them something of value in exchange for their data was advocated, there was a debate about how savvy consumers are and about what’s happening with their data.
There’s on-going education pieces needed in various media and marketing organisations to not reduce eCommerce and Retail Media effectiveness in terms of just ROAS to judge its effectiveness, as it doesn’t take into account other metrics and areas of the funnel such as branding it can help move the needle on.
