Streaem’s retail media platform was developed by data and retail media specialists with extensive experience. The platform brings retailers & brands together and offers the end customer a consistent experience in every shop. This is done by opening up a retailer’s media channels centrally and via a user-friendly self-service platform. In this way, Streaem facilitates brands to advertise on these media channels. Whether it concerns positions on a website or webshop, in-store displays, an e-mail newsletter or recipes: the platform provides access to all channels.
One central media buying platform
A retail media strategy gives retailers access to a new business model in which they do not earn money from the products on the shelf, but from selling advertising space. An integrated, omnichannel approach is particularly promising. John: “Brands prefer to conduct targeted, data-driven and efficient campaigns across all channels. In this way, they can make a product or category more visible not only in the shop itself, but also in the retailer’s webshop, the e-mail newsletter or on social media. When you, as a brand or supplier, can purchase and manage omnichannel positions from one central platform, you are able to market effectively and efficiently.”
Business case as a starting point
Streaem makes it unnecessary for retailers to develop their own platform. Patrick: “This saves them a lot of time and development costs. If you start with retail media, it is wise to make a business case. You can then determine whether it will pay off for your organisation. You should only roll out if that is the case. Because the use of retail media has a lot of potential, but it also requires an investment. In money, time, and people. It will not get off the ground without the support of internal stakeholders such as IT, marketing, e-commerce and finance. Or it won’t be a success. And the best argument for support is to show that something works. That’s why we say: don’t start with retail media without a business case and quickly show results through a pilot, for example.”
Failure factors
John and Patrick can easily recognise the causes of failing retail media projects. “The missing business case is a classic, but other things can also go wrong. For example, when promised visibility targets are not met. This leads to dissatisfied advertisers. At least as undesirable is a lack of insight. This occurs when the retailer cannot share enough data because different channels are not connected to each other and there is no integral (performance) insight in one central location. Advertisers also drop out if the inventory is not good. This happens when a retailer is insufficiently prepared to give away qualitatively visible positions. And then there are the hardware headaches. Displays of insufficient quality that do not have the right impact. Or which are too often on black or cannot be linked to a platform at all. It is essential to be able to determine the ROI of an ad or campaign at the display level. Unfortunately, this is often overlooked when purchasing the hardware. You then end up with a huge problem. There is no brand that will buy advertising space from you if you cannot demonstrate the effect. Software and hardware must therefore work in tandem. The interplay between them is decisive for scalability and success. Streaem and First Impression share the same vision in this respect.”
Scale or niche
The success of the partnership between Streaem and First Impression is due to their high standards. “This is reflected in how passionate we are and in what we deliver to our customers. A perfect example is First Impression’s Network Operations Centre. Smart and proactive monitoring of displays guarantees 99.9% uptime. This results in maximum revenue for the retailer, which is exactly the intention.”
Streaem and First Impression work together as partners in retail media projects, combining their knowledge of software, hardware, an integrated approach, insights, performance and scalability. In doing so, they help retailers maximize returns from a retail media strategy.
Now read about the power of retail media in our e-book.
