The advent of streaming has opened up a new world of opportunity for marketers to connect their brand story with viewers. But how can marketers take advantage of the full consumer journey, from awareness all the way down to purchase and lifetime value? Enter: streaming media platforms as a way to supercharge growth in retail.
At OpenAP’s Audience Summit at CES, 3C Ventures’ Michael Kassan sat down with Krishan Bhatia, Vice President, Global Video Advertising & Partnerships, at Amazon Ads to talk about the power of retail media in driving brand performance, and revolutionizing how and when brands engage consumers in the process.
“Television consumption is going through a digital transformation. Whether it’s on streaming, mobile or even web, the vast majority of video content is already being consumed on digital-native platforms.”
- Krishan Bhatia
Retail media platforms can provide a “best of both worlds” for advertisers–the scale and premium content found on television with a deep and rich consumer dataset allowing for more precise audience reach. Perhaps no one has demonstrated the power of the retail media platform experience as well as Amazon, but the rise of retail media platforms serve more than just marketers.
“Because of the scale [of media platforms], you can create better customer solutions for marketers…and you can invest in the content experience [for consumers],” explained Bhatia. “The objective is to serve both sets of customers more effectively.” As a result of combining the power of television with consumer data, marketers get more efficient at reaching consumers and measuring effectiveness, and for consumers, ads are more relevant.
"Customer is the connectivity between commerce and content."
- Krishan Bhatia
Amazon isn’t stopping at driving better brand performance for marketers already advertising on television, but harnessing the power of AI to bring new advertisers to premium video. “We’re investing in how we can bring more advertisers into television that have historically been excluded from it… because of the high barrier of the creative?” With the help of AI, Amazon sellers can turn text and image listings into 15- and 30-second commercials with the click of a button, growing the pie of television advertisers and increasing the value of retail media.