The do-it-yourself home improvement store is leaning on a new dynamic media, commerce marketing, and multimedia support platform to match its customers with the brands and products they need to accomplish their home improvement goals. The 7,000 partner brands with access to the new Home Depot media network including Avery Dennison Corporation, Acuity Brands, Boise Cascade, Scotts Miracle-Gro, Behr, and many more, will use the Retail Media+ space to promote their product listings and target new customers across spaces such as TV, radio, social, digital, email and print.
With the third-party cookie crumbling, and its reliability continually coming under scrutiny, highly targeted, closed-loop brand and retail media networks are taking center stage. Rather than work in tandem with media agencies as a key ad buyer, retailers like Home Depot, CVS, Target, and others including hospitality brands like Marriott have begun to leverage their customer audiences and establish their own media networks. With access to a broad swath of proprietary, first-party data, now is the perfect moment in time and opportunity to do so. Organization-owned retail media networks can deepen customer relationships and better serve marketer and advertiser clients. Not only do they give brands and retailers more control over content, but they also provide richer, more tangible insights about whether or not advertising has been successful, as well as unlock further creative potential for the ways in which customers can be targeted and supported.
Home Depot, for example, records over 1.6 billion annual customer transactions, 2.2 billion online visits, and more than 1.3 billion mobile site visits, making the retailer’s digital properties a valuable advertising space for partner brands. The owned-space-as-media model enhances the in-store environment, as well as the online shopping experience, with a depth of data and insights retailers have from their ecommerce sites and digital interactions with customers. In some ways, the in-store occasion will evolve to imitate the online shopping experience more, especially as smart solutions gain traction and provide more personalized and efficient buying options.
To further support its vendors, Home Depot’s retail media network also boasts an in-house content lab. The solution allows for vendors and partners to create premium collateral including 3D models, product demo videos, studio photography, and more in support of their product offerings. Home Depot has the in-house resources to produce and create content for partner vendors to promote their listing and target new customers across spaces such as TV, radio, social, digital, email and print.
This article originally appeared in the PSFK iQ report, Retail as Media.