A new report suggests that retail media networks (RMNS) must evolve to be platforms that are content to promote products and prices to become content engines which influence the purchasing decisions of a new generation of consumers. This analysis comes from the document entitled “New content mandate: Building confidence in a fragmented landscape of detail media”, developed by Ascendant Network and Inmar Intelligence.
Ads, outside. Creativity, inside
Consumers, especially those of generation Z, increasingly value the Purchase recommendations based on authentic stories and the content generated by creators, rather than conventional advertisements that currently dominate RMNS. The report underlines the need to adopt integrated and omnichannel content strategies, designed to engage consumers throughout their purchasing experience, from the initial inspiration to post-purchase satisfaction.
In addition, the report stresses that RMNS face severe fragmentation, which prevents effective collaboration between brands and advertising channels. To counter this, it is advisable to marketing leaders to work to break the internal silos and to establish partnerships which promote the creation of coherent and relevant content.
It is also recommended that RMNS favor the content of creators and the strategic use of testimoniesbecause the youngest consumers trust these sources more than traditional advertisements on social networks. This confidence must be used by RMNS to establish more solid relationships with consumers.
Finally, The report pleads for an evolution of the metrics used to measure the success of the RMNS. Beyond the return on advertising investment (ROAS), it is necessary to understand the full experience of the consumer, using data which reflect their purchasing behavior and their needs, in order to demonstrate the value of investments made in content strategies.
