Expanding retail media measurement for multi-channel success
By Felicia Nwosu
As the retail media landscape continues to evolve, marketers are being urged to rethink their approach to retail media measurement, shifting focus from search-centric strategies to a more comprehensive, multi-channel framework.
Some notable experts in the industry averred that by capturing the full spectrum of consumer interactions, they can make more informed decisions, optimize resource allocation, and ultimately drive sustained business growth in an increasingly competitive environment.
According to these experts, marketers who adopt a multi-channel measurement strategy will be better positioned to navigate the complexities of the digital age. This need arises as retail media continues to dominate the advertising landscape, with global investment expected to reach $154.8 billion in 2024, according to WARC’s global ad spend outlook 2024/25.
The report, which aggregates data from 100 markets and leverages a proprietary neural network analyzing over two million data points, underscores the importance of integrating various channels to maximize advertising effectiveness.
Traditionally, search has been the cornerstone of retail media due to its direct correlation with sales. However, industry experts highlight that this narrow focus fails to capture the broader consumer journey.
Many purchase decisions are influenced by upper-funnel interactions, such as display ads, social media content, and connected TV campaigns, long before a search query is made, limiting measurement to search-only campaigns can obscure these critical touch-points, resulting in missed opportunities for growth.
The emergence of social media as a dominant force in the marketing ecosystem has further emphasized the need for an integrated approach.
According to Remilekun Dosumu, Senior Manager of Media Investment and Compliance at PHD Nigeria, social media has transformed traditional trade by driving e-commerce and creating a platform that brands cannot afford to ignore.
“Social media platforms have become a goldmine that no brand should overlook. Businesses today leverage these platforms to connect with millions of active users daily, creating unique opportunities for engagement in a mobile-first environment.”
Dosumu highlighted the influence of enhancing connection through the use of social media marketing strategies.
She noted that platforms like LinkedIn offer business leaders a chance to reimagine networking and build enduring relationships that translate into increased sales.
Marie Okorie, Head of Marketing and Corporate Communications at Heirs Insurance Brokers, also emphasized the transformative power of social media in today’s digital landscape.
“Social media has become a potent force in shaping the success of businesses and personal brands, especially with the integration of AI.”
Okorie shared her personal experience of using how she crafts compelling social media content, writing captivating ad copy and email campaigns to produce content that resonates with target audience across diverse channels.
She also acknowledged the importance of effective targeting and segmentation in maximizing the impact of social media campaigns. “Everyone in marketing communication knows the value of reaching the right audience with the right message, using social media platforms help to ensure that your content is seen by those most likely to engage and convert.
“Expanding retail media measurement to include channels like social media, connected TV, and display advertising allows marketers to gain a more holistic view of campaign performance. This approach not only enhances ROI but also strengthens brand equity by fostering deeper connections with consumers across multiple touch-points.”
Digital marketing expert, Dotun Babatunde, Head, Digital Marketing, Olam Nigeria Limited, also stressed the need for innovation and adaptation in a changing landscape. Noting the global marketing landscape shifts, while emphasising that businesses must be agile to stay ahead in an increasingly competitive environment. He explained that traditional marketing strategies no longer suffice and stressed the need for a comprehensive approach that integrates technology with creative solutions.
According to Babatunde, the success of digital campaigns hinges on data-driven decision-making. With advancements in artificial intelligence and machine learning, marketers can now gain deeper insights into consumer behavior, allowing them to personalize content and enhance user experience.
The digital marketer also underscored the significant role of social media platforms in connecting brands to consumers. He noted that social media is no longer just a channel for engagement but has become a powerful tool for brand storytelling, where customers and influencers play an integral part. This shift calls for a more collaborative approach, where brands must engage directly with their audiences in real time.
He urged brands to embrace emerging technologies and up-skill their teams to ensure they remain at the forefront of digital marketing trends.
He also shared his thoughts on the rise of purpose-driven marketing, where consumers are increasingly seeking brands that align with their values. This, he believes, creates new opportunities for brands to build authentic connections with their audiences, fostering long-term loyalty.
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