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. Nonetheless, some manufacturers gained’t belief the networks to grade their very own homework and can nonetheless need exterior verification as well as.
The necessity for retail media networks to supply attribution is much more profound for smaller advertisers. Whereas bigger advertisers would possibly have the ability to present the attribution on their very own or have interaction with a measurement firm, smaller advertisers are much less prone to have that functionality or finances to interact one other accomplice. Networks that may present one of these measurement will win extra smaller and medium-sized advertisers.
To win share of advert {dollars}, retail media platforms have to base their gross sales efforts on the power to show attribution, not solely on their very own platforms however throughout the ecosystem. Earlier than they signal with a brand new media accomplice, 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 transferring ahead, the power to supply holistic measurement and attribution will set them other than 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 price is likely one of the highest issues for digital retail advertisers, and retail media tends to be costlier than different channels, with the suitable measurement and attribution they’ll really feel assured it’s value paying for.
