Retail Media’s Great Defrag - Episode 344
🎙️Interview with Mike Balabanov from Criteo
DESCRIPTION
Welcome to another episode of The Ecommerce Braintrust podcast! Today, we dive into the evolving landscape of retail media with our special guests, Mike Balabanov, VP of Agency Development at Criteo, and Damiano Ciarrocchi, Senior Retail Media Manager at Acadia.
Our host Julie Spear leads an insightful discussion on the importance of data quality, innovative formats like video, and the growing emphasis on lifetime value in retail media strategies. We're exploring the challenges of standardizing metrics across platforms, the exciting potential of in-store retail media options, and the need for a unified brand voice.
Tune in and find out how Criteo's platforms aim to defragment the complex retail media landscape and provide actionable insights for brands and agencies.
“Every brand is on a different continuum regarding their retail media journey, but my personal belief is that to unlock the real dollars and the real growth, we have to get this idea of performance marketing as it comes to cross retailer, running campaigns where your products are being sold, and being able to drive sales, on top of the tried and true JBP dollars and the relationships that are always going to continue between the retailer and the brand.”
KEY TAKEAWAYS
In this episode, Julie, Mike, and Damiano discuss:
Navigating Retail Media Transformation
Data Quality & Tailored Insights: Damiano Ciarrocchi stresses the importance of high-quality data and the hurdles in providing bespoke data insights for diverse brands.
Innovative Retail Media Formats: Mike Balabanov dives into the significance of lifetime value and the growing need for captivating content like video and creative storytelling on retail media networks.
The Full-Funnel Strategy Revolution
Julie Spear highlights the comprehensive nature of modern retail media, blending top-of-funnel awareness with conversion-driven tactics. The emphasis is on employing innovative formats and maintaining a unified brand voice across all channels.
Challenges & Opportunities
Fragmentation & Standardization: The fragmentation in retail media networks and the importance of standardization for providing a holistic sales and marketing view.
Incrementality Practices: The complexities of implementing incrementality at scale, advocating for standardized metrics and enhanced data sharing to bolster growth.
New Horizons in Retail Media
In-Store & Offsite Media Growth: With 40% of retailers planning to offer in-store media by 2024, the potential for blended physical and digital strategies is more promising than ever.
Budget Management Across Platforms: Criteo’s Commerce Max aims to streamline budget allocation and attribution, offering flexibility and addressing common budget management challenges.
MENTIONED IN THIS EPISODE
Connect with VP of Agency Development @Criteo, Michael Balabanov
Connect with Senior Retail Media Manager @Acadia, Damiano Ciarrocchi
Connect with Head of Retail Marketplaces Services Julie Spear
Download “The Great Defrag“ Report Free
Download “The ROAS Trap“ Report Free
Learn more about Criteo
Learn more about Acadia
