Retail media is a type of advertising that allows brands to promote their products and services within a retail environment. It’s a way for brands to reach their target audience while they’re actively shopping, making it a powerful tool for driving conversions and increasing brand awareness. But how does retail media fit into the marketing funnel? In this article, we’ll explore how retail media can boost your marketing funnel and help you achieve your business goals.
What is the Marketing Funnel?
The marketing funnel is a model that describes the customer journey from initial awareness of a product or service to the final purchase. It’s typically divided into four stages: awareness (or attention), interest, desire, and action. The goal of the marketing funnel is to guide customers through each stage, ultimately leading to a conversion.
How Retail Media Fits into the Marketing Funnel
Retail media can be used to target customers at various stages of the marketing funnel. Here’s how:
- Awareness: At the top of the funnel, the goal is to increase brand awareness. Retail media can be used to promote your brand to a wider audience through in-store displays, banner ads on e-commerce websites, and influencer marketing.
- Interest: Once customers are aware of your brand, the next step is to pique their interest. Retail media can be used to showcase your products and services in a way that resonates with your target audience. For example, in-store displays can showcase your products in an eye-catching way, while sponsored products on e-commerce websites can highlight specific features or benefits.
- Desire: At the desire stage, customers are considering whether to make a purchase. Retail media can be used to create a sense of urgency or scarcity, such as offering limited-time discounts or highlighting low stock levels. Influencer marketing can also be effective at this stage, as influencers can provide a personal endorsement of your products.
- Action: The final stage of the marketing funnel is the action stage, where customers make a purchase. Retail media can be used to encourage customers to take action, such as by offering a discount for a first-time purchase or highlighting free shipping on e-commerce websites.
Retail media is a powerful tool for brands looking to boost their marketing funnel. By targeting customers at various stages of the funnel, brands can increase brand awareness, pique customers’ interest, create a sense of desire, and encourage customers to take action. Whether through in-store displays, sponsored products, or influencer marketing, retail media can help you achieve your business goals and drive conversions.