Retailers Are Learning to Sell (Part 3/3): How Retailers and Media Buyers Can Work Better Together

In this special 3-part series, Jordan Witmer, Managing Director of Unified Commerce at the agency Nectar First, joins Kiri to riff on the business of retail media from an advertiser, technology, and retailer perspective. we discuss about how retailers are jumping into the business of selling their ad inventory to brands. As they stand up these highly profitable properties, retailers need to grapple with a very "retail" challenge: their unique value proposition - but this time to advertisers rather than consumers.In today's episode (the final episode of this miniseries), we discuss how retailers and media buyers can work better together, the need for transparency, and the importance of differentiation. Additionally, we explore the trend of self-service ad buying, highlighted by PepsiCo's recent move, and its implications for brands and retailers alike. Tune in for a deeper understanding of how retailers can collaborate more effectively with brands and optimize their media strategies.Link to Jordan's LinkedIn profile: https://www.linkedin.com/in/jordan-witmer-b220b646/Link to Nectar First: https://nectarfirst.com/PRODUCED BY:https://aipodcast.ingCHAPTERS:(00:00) About Today's Topic(01:08) About the Show(01:28) Introduction and Initial Thoughts(01:45) Risks in Retail Media Networks(03:09) Consumer Perspective on Retail Media(05:24) Transitioning from Minor to Major League Retail Media(07:13) PepsiCo's Move to Self-Serve Ad Buying(07:54) Advantages of Self-Service for Brands(08:45) Incentive Structures in Managed Service Setups(10:20) Conclusion and Final Thoughts(10:38) OutroSOCIAL LINKS:Website: https://www.retailmediabreakfastclub.comLinkedIn: https://www.linkedin.com/in/kiri-masters/YouTube: https://www.youtube.com/@retailmediabreakfastclubApple: https://podcasts.apple.com/us/podcast/retail-media-breakfast-club/id1782187624//Spotify: https://open.spotify.com/show/3s5MuqcrsOmQDKn3uMYJKb