What is Shoppable Media?
Made possible by a range of industry-leading sponsors and a raft of expert speakers, #DWMF arrives next week in New York for the North American leg of the global digital marketing conference and expo series.
In anticipation of what’s going to be an action-packed and insightful two days at the Javits Conference Center, we’re catching up with just some of those individuals for an early taste of what to expect from the show.
Today, we’re talking to Girish Pai, Head of Americas and Europe, Shopalyst, ahead of his speaker session on ‘Media Media Meets Commerce’
Hi Girish tell us about the concept of Shoppable Media?
Girish Pai: In today’s connected world, consumers are constantly engaging with content and messaging from brands across digital media. When something catches the consumers attention they expect to be able to find out more about the product or service in a seamless way. Shoppable media is about curating the consumer’s path from engagement to product discovery and possibly purchase.
There seems to be a wider move towards this type of shoppable advertising. What does that say about how consumer browsing habits are changing?
GP: Yes, in fact, the emergence of the ad that becomes a digital storefront is a trend that Mary Meeker at Kliner Perkins has highlighted over the last two years. We believe this says a lot about consumer expectations. When they see something they like, they want to have the option of being able to buy it or at least learn about purchase options, right then and there. Without having to wait, or to search for it or switch to a different app.
What kind of a role does data play in all this?
GP: Data is very central to shoppable media. Firstly, in order to enable a shoppable experience, the brand needs to have all product information that influences the purchase readily available. This includes not just static information like product description and imagery but also dynamic aspects like price, discounts, availability, and reviews.
Secondly, while shoppable media can enable product purchase, there is massive value in how brands can acquire their own first-party data on consumer purchase intent at scale. First party data, especially about purchase intent is something that has been elusive to brands and they largely have had to rely on third parties for this in the past. Now, by curating the path to purchase, the opportunity to learn about consumer purchase behavior is very promising.
With regard to some of the leading brands you work with, what kind of results are you seeing?
GP: We have seen some great success stories in the last year or so, having expanded from doing a few pilots to activating in about 16 markets globally. We are seeing brands derive value from simple things like reducing dead-end journeys in their media to drive e-commerce sales. The more sophisticated brands are actually solving the data puzzle on how to use first-party data to dramatically improve the efficiency and effectiveness of their digital media.
So, what are you most looking forward to from #DMWF North America?
GP: I am looking forward to hearing about the innovative and disruptive trends in the digital space. It’s also a great forum to meet people from all over the industry representing brands, agencies, and enablers. This is my second time at #DMWF. I really like the way the event is structured to enable networking and free exchange of ideas.
To find out more about Digital Marketing World Forum (#DMWF) North America, and to register, click here.