Advertising is a powerful and growing profit tool for marketers. A report by Goldman Sachs Equity Research noted in February 2021 that “in the United States alone, we believe retailers can generate $15 to $20 billion in retail media revenue by 2025; the number is expected to be significantly higher.” clothing, sporting goods and other manufacturers for some retailers, the scope here are huge and merchants are paying attention.
Despite the enthusiasm of many companies to capitalize on this trend, it is not always easy for them to place ads in their market. When we talk about monetization strategies with new market partners, they are often asked, “How can I convince my internal team that advertising works and is a good idea?”
In every organization, there are competing priorities. They are responsible for planning the site, merchandise, UX, CX, classification, personalization, supplier relationships, and customer service, all to make their market as attractive and profitable as possible. The good news is that advertising, when done correctly, can create a win-win scenario that can generate revenue by meeting the needs of different stakeholders.