Data-driven decisions, delightful discoveries: The retail media network and CTV advantage

Connected television (CTV) and retail media networks are converging to reshape the way brands connect with consumers. This is a transformative shift that promises to revolutionize creative content, captivate audiences, and redefine the shopper experience. 

During a recent session at LiveRamp’s RampUp event, Roku’s Derek Leonard and Kroger Precision Marketing’s Halli Goddard explored how retail media networks and CTV are changing marketing. Let's delve into the key insights and benefits of this collaboration: 

• The Power of Retail Media and CTV: Retail media and connected television represent a massive driver of growth for brands. Together, they offer a potent combination for reaching consumers at the right time and measuring real outcomes. 

“Retail data is telling you so much about your consumer—what lifestyle habits they may have, what life stage they may be in—and you're able to reach them on CTV, which is the largest screen in the home,” Goddard said.  

• Precision Purchase Signals: Both Kroger and Roku emphasize the importance of data collaboration and privacy in their partnership. Leveraging first-party data allows for precise targeting and measurement, driving efficient marketing campaigns.  

Once a brand understands who they want to reach, Leonard said, “We're able to bring all of those data sets together - even first-party data sets - and directly reach those audiences.”  

• Consumer-Centric Approach: The evolution from linear TV to CTV has brought about a shift towards more consumer-centric advertising. With CTV, consumers are actively choosing their content, providing an opportunity for relevant and engaging ads.  

“It doesn't make sense for us to inundate viewers with ads and make it a terrible experience,” Leonard said. “We want to show them things that would lend themselves to their lifestyle. If you actually are providing some true value to the customer, that is a wonderful thing.”  

• Seamless Activation: The partnership between Kroger and Roku exemplifies seamless integration, enabling advertisers to reach audiences across platforms and measure performance effectively. This collaboration serves as a model for industry partnerships.  

“You can bring in other partners — all part of a larger ecosystem which become that much more powerful,” Leonard said.   

• Measuring Real Outcomes: Over time, metrics for measuring campaign success have evolved. From traditional metrics like impressions to more nuanced measures such as attributable sales and lifetime value, brands are demanding faster, more real-time results.  

“We're able to give CTV viewers the ads that are most relevant to them …and on the back end, we're able to see if those exposed households did indeed make a purchase,” Goddard said.  “Advertisers and brands are really interested in driving those returns on measurement from weeks to days to hours and then actually applying them back into the campaign,” Leonard added. The convergence of retail media and connected television presents a world of possibilities for marketers. By embracing data collaboration, prioritizing consumer experience, and fostering strategic partnerships, businesses can navigate this evolving landscape with confidence and drive impactful marketing campaigns that resonate with audiences. 

Watch a video of the full session here.