While many advertisers are still planning their transition to cookieless channels, the most forward-thinking have already made the leap, positioning themselves ahead of the curve.
Termed the ‘new oil’ in digital advertising, retail data represents a seismic shift in the advertising landscape. This goldmine of first-party insights, gleaned from verified purchases and loyalty programs, provides brands with an unprecedented understanding of their customers. But the real impact happens off-site, where retail data is helping marketers reach audiences across the internet.
Today, we’re frequently switching between devices, engaging in activities from online shopping to streaming the latest series. This constant shift makes it crucial for brands to establish connection points throughout the consumer’s digital journey, right up to the point of purchase. And it is also this fragmentation that is bringing forth unique opportunities for modern marketers.
One of the most exciting aspects of retail data is its potential to transcend the confines of retail media. Innovative brands are now leveraging retail data in off-site environments on the open internet, where Aussies spend two-thirds of their online time streaming BVOD, reading news and blogs, listening to podcasts, and gaming online.
This shift to these environments signifies that retail data isn't solely about driving lower funnel conversions, it's also instrumental in fostering upper funnel brand awareness. As an example, retail data allows marketers to reach customers much earlier in their shopping journey. Instead of waiting for a customer to enter a store or visit a retailer’s website, retail data can identify customers who are also watching the latest streaming series and target them there.
The power of retail doesn’t end with audiences. It also plays a role in omnichannel attribution. Thanks to retail data, marketers can now connect the dots between online exposures, like streaming ads during a movie, and subsequent in-store purchases, bringing brands a step closer to achieving what is largely considered the holy grail of marketing.
Recently, a popular Australian dairy brand launched an omnichannel campaign on The Trade Desk to promote their new yoghurt. Rather than targeting the general category of grocery buyers, the brand leveraged The Trade Desk’s partnership with Unpacked by Flybuys to target existing yoghurt buyers across BVOD, online video, and display channels. In addition, advanced retargeting strategies successfully drove users exposed to these ads toward conversion. The results were impressive, with the campaign achieving a 46% increase in sales among users exposed to the ads, compared to pre-campaign sales. The proof is in the pudding—or in this case, the yogurt.
Lastly, there's a common misconception that non-endemic advertisers—those advertisers that don't sell products with a particular retailer—can't benefit from using this data. Take insurance and automotive brands, for example. It’s highly likely that new parents may be looking to buy life insurance or upgrading to a bigger family car. In this scenario, retail data presents a compelling opportunity for brands spanning both sectors.
These examples not only demonstrate the true value of retail data but also highlight its current relevance, and how it is already rewriting advertising strategies today. While your guess is as good as mine for when the cookie will actually crumble, I’d challenge that its eventual expiry date holds little significance. Instead, advertisers should be tapping into richer sources of data that are capable of driving tangible business outcomes.
Stephanie Famolaro - General Manager, Business Development, ANZ at The Trade Desk