The future of retail media was a hot topic on a recent episode of the CPG Guys livestream. Nagarajan Chakravarthy, Chief Digital Officer (CDO) at iOPEX, and Joe Zawadzki, Co-founder at FxM and General Partner of Aperiam Ventures, in discussion with Sri Raj Gopalan and Peter VC Bolland, the hosts of The CPG Guys, shared their valuable insights on navigating this evolving space and how businesses can leverage AI to unlock significant growth in retail media.
Essential Takeaways from The Live Cast
- Transitions in the advertising and retail media space, driven by the recognition that traditional metrics and approaches are insufficient today. For example, shifting from traditional to digital platforms and prioritizing outcome-based metrics.
- Need for brands to rethink their media mix models in light of changing customer behavior and advertising ecosystem for better results.
- By recognizing the three stages of growth, businesses can tailor their strategies to their current market position and goals.
- The transformative power of AI for businesses of all sizes. AI can optimize operations, automate processes, and deliver real-time insights.
- Importance of data ownership and control, along with leveraging AI for data analysis.
- "Advertising is not just for larger brands. Advertising is for everybody".
Joe's insights provide valuable perspective on the current state of the advertising industry and the need for brands to adapt to emerging trends and technologies. His emphasis on the importance of data-driven decision-making aligns with the growing recognition of data as a critical asset in marketing strategy. By acknowledging the challenges and opportunities arising from market fragmentation, Joe offers practical innovation & growth advice for brands looking to navigate the evolving ecosystem successfully.
The Three Stages of Growth
Naga outlined a three-stage growth model applicable to any business, including retail media networks (RMNs). This framework helps businesses chart a course for success:
Stage 1: Ramp Up - This initial phase prioritizes speed and collaboration to establish a foothold in the market. The focus is on building partnerships and getting things off the ground quickly.
Stage 2: Consistent Outcomes - Once established, the focus shifts towards streamlining processes and leveraging tools to ensure consistent, reliable results.
Stage 3: EBITDA Optimization - The final stage is maximizing profitability. Here, businesses integrate systems, automate processes, and leverage advanced technologies like AI to optimize their operations.
iOPEX, is positioned as a thought leader in the retail media world. We empower retail media companies to achieve optimal efficiency and excellence at every stage by leveraging AI and automation and providing valuable support.
Also, Listen to the podcst on "AI for CPG and Retail" where Mr. Shiva Ramani shares valuable insights on how AI can transform your businesses.
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Why GenAI and Automation?
Throughout the discussion, Joe & Naga highlight the importance of automation and AI in optimizing retail media network operations and driving growth. AI's ability to analyze vast data and make real-time decisions can revolutionize advertising. Imagine campaigns that adapt based on customer behavior, delivering more targeted and effective advertising. This level of real-time optimization can significantly improve campaign performance and return on investment (ROI).
It's All About Data
Find out the importance of data ownership and control for marketers and why AI is a powerful tool for interpreting data and prompting the right questions. With AI-powered insights, marketers can make data-driven decisions and optimize media mix models with greater confidence. This data-driven approach ensures that marketing efforts are aligned with customer behavior and market trends, ultimately delivering real results.
Democratizing Advertising
The rise of retail media networks presents a remarkable opportunity to level the playing field for advertisers of all sizes. Operators can unlock advertising opportunities for mid-market that may not have been given the focus in the past but potentially drive incremental revenue. iOPEX plays a vital role in this process by providing retail media companies with the tools and insights they need to offer measurement and campaign data. This empowers businesses of all sizes to make informed decisions and participate effectively in advertising.
Tune in to the live cast to learn how iOPEX augments the ecosystem by helping retail media, commerce intermediaries, and specialized verticals adopt AI in advertising, achieve faster market entry, and scale effectively, adding real core value to businesses. Our team identifies operational inefficiencies and implements automation tools to optimize performance, allowing retail media entities to focus on their core business while streamlining back-end processes. iOPEX offers full-scale system integration, comprehensive process automation, and the power of Generative AI, contributing to a more dynamic and data-driven advertising ecosystem that benefits businesses of all sizes.
