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Retail media – the future of personalisation in a privacy-conscious world

(Source: Bigstock.)

If your brand isn’t rethinking data consent and tracking, now is the time to act. We know that privacy laws in Australia are under the microscope and expected to continue tightening in 2022 (and beyond).

It makes sense: the last major overhaul of how consumer data is dealt with in Australian law happened way back in 1988. Now, regulators and lawmakers are reviewing the definition of ‘personal information’ (right down to primary online identifiers such as geolocation), with a raft of changes in the works that are predicted to go harder than the European Union’s general data protection regulations (GDPR).

We’ve already felt the impacts of iOS14 this year; with Google flagging; it’ll phase out third-party cookies by the end of 2023. The deadlines might have been extended, but significant change is coming – and your brand needs to be ready. 

Off the back of the pandemic, e-commerce has (and continues to) boom. That means brands need to find a viable alternative that allows for precise personalisation in a post-cookie, privacy-conscious world. 

Building out robust first-party data is the obvious first step to future-proofing your brand. By first-party data, we mean data that are gathered and owned by you, from your website, app, emails and membership programs. It’s clean, reliable and information-rich, rather than relying on third-party aggregators outside of your own ecosystem. 

But even in the current privacy-conscious context, third-party data isn’t going to disappear entirely. While privacy is a bigger focus than ever before, consumers continue to demand and expect personalised experiences. So how do you meet both requirements? Enter, retail media. 

As a 100 per cent, first-party data solution, retail media, the buying of media space across a retailer’s owned assets (i.e. banners on a retailer’s e-com site or ads on their Facebook page) gives brands and retailers the ability to share rich audiences in a safe and secure environment. It’s privacy-first and gives both parties access to ready-to-buy audiences right at the point of sale, allowing for more precise targeting (right down to the SKU level). 

As a brand, not only are you able to boost the visibility of your products at the digital checkout, but your customers will score a personalised shopping experience tailored to their behaviour and interest, serving them the products they want when they want them – a win-win-win for all parties. 

With tools, such as TP. Collab, built by The Pistol, experts in digital transformation, you’re able to access secure first-party data and buyer signals with a rich targeting solution not accessible anywhere else. From awareness YouTube ads to point-of-sale banners, buying media on a Retailers owned assets delivers conversion-driving placements backed by high-intent buyer signals. 

You might have heard rumours that contextual advertising is the way forward in a post-cookie world. While the headlines might say it’s having a resurgence, this kind of keyword and content-based targeting doesn’t offer the level of personalisation your customers are expecting from your brand. 

Ultimately, investing in retail media (powered by safe and secure first-party data) is the way to future-proof your brand. No matter what privacy changes and regulations come into play, retail media gives your customers seamless shopping experiences and tools like TP. Collab offers transparent campaign results to ensure you’re holding ad spend accountable for performance. 

TP. Collab is the brainchild of The Pistol. We know retail like the back of our hands with some of the world’s most recognisable brands, including Mars, L’Oréal and CUB, leveraging our strategy, technology and creativity to connect with their consumers through personalisation at scale.