Retail Media, Attribution & AI 2024

Did you know that just a handful of major retail players control about 50% of the e-commerce market? We've noticed that running Google Ads alongside Amazon Ads is crucial for boosting sales both on Amazon and .com platforms for U.S. e-tailers. With major players like Target, Dick’s Sporting Goods, Home Depot, Instacart, Lowe’s, Macy’s, Ulta, and Walmart now having their own retail media platforms, it's more important than ever to ensure your brand stands out. It’s crucial to leverage all platforms to grow your brand, whether you’re selling on your own site, focusing on local markets, or using marketplace platforms.

As a consumer, have you ever clicked on a sponsored listing on Amazon, only to find that the product—like a lightbulb—has a high return rate? While not everyone is as particular about their lightbulbs, that information is clearly displayed on the Amazon Product Page. Perhaps that advertiser shouldn't have run that sponsored ad. It’s just a waste.

From our experience, using a wide variety of channels is essential to reaching diverse audiences and achieving the best return on your ad spend (ROAS) across all channels. Running campaigns in isolation, as in the example above, doesn’t work effectively.

Advanced analytics platforms are starting to tackle these challenges with probabilistic models. For example, if someone sees a product ad on their phone and then purchases that product in a store shortly afterward, the technology can confidently attribute that sale back to the ad, even without a direct match.

We’ve found that one way to bridge this gap is by using predictive models to estimate the last mile. Additionally, with a Generative AI learning model, we can estimate potential sales by analyzing historical trends, seasonality, and other factors. We use this data to fine-tune ads and offers to achieve sales targets.

As retail media continues to evolve, staying ahead with innovative technology and strategies is crucial. By leveraging advanced attribution models and AI insights, brands can better understand consumer behavior and tailor their marketing efforts for maximum impact. This approach not only boosts sales performance but also strengthens your connection with customers in a competitive marketplace.

At Beyond Media Global, we work closely with your brand to connect with customers and prospects across multiple marketplaces and retail media networks. We integrate this approach with platforms like Meta, Google, and Microsoft to provide a transparent view across all channels