For bigger retailers, retail media networks may construct out a few of these measurement and attribution choices in-house with the troves of owned information they course of and thru partnerships with different retailers. Nevertheless, some manufacturers gained’t belief the networks to grade their very own homework and can nonetheless need outdoors verification as well as.
The necessity for retail media networks to supply attribution is much more profound for smaller advertisers. Whereas bigger advertisers may be capable to present the attribution on their very own or interact with a measurement firm, smaller advertisers are much less more likely to have that functionality or price range to have interaction one other associate. Networks that may present the sort of measurement will win extra smaller and medium-sized advertisers.
To win share of advert {dollars}, retail media platforms must base their gross sales efforts on the flexibility to show attribution, not solely on their very own platforms however throughout the ecosystem. Earlier than they signal with a brand new media associate, advertisers need assurance they’ll get the information proof they should justify the funding.
The easiest way to get forward of that is for retailers to create partnerships with applied sciences and different retailers, or construct out their very own capabilities, to then showcase that bigger attribution functionality upfront. For networks shifting ahead, the flexibility to supply holistic measurement and attribution will set them aside from their opponents.
As retail media networks proceed to develop, reaching their full potential will imply having the ability to present the peace of thoughts advertisers want: attribution. Whereas value is among the highest considerations for digital retail advertisers, and retail media tends to be costlier than different channels, with the suitable measurement and attribution they are going to really feel assured it’s price paying for.
