What's Happening?
Commerce media is rapidly evolving as a central component in marketing strategies across various industries, including travel, finance, and software. At the IAB Connected Commerce Summit, experts discussed how commerce media is expanding beyond traditional retail media, integrating identity across channels, and creating shoppable experiences in new contexts. Kimberly Gilberti from Experian emphasized the importance of first-party data and identity in unlocking value across channels. Lauren Griewski from Chase Media Solutions highlighted the role of trust and personalization in driving consumer spending, while Mike Petrella from United Airlines described the transformation of in-flight entertainment into personalized commerce experiences. Dave Raggio from Intuit noted the potential of small businesses as a profitable audience for brands.
Why It's Important?
The shift towards commerce media represents a fundamental change in how brands engage with consumers, offering more personalized and measurable marketing experiences. This evolution is significant for industries looking to leverage data-driven strategies to enhance consumer engagement and drive sales. The integration of identity and outcomes-based buying is expected to redefine marketing practices, with potential benefits for companies that can effectively scale and collaborate across fragmented networks. As commerce media becomes more prevalent, businesses that adapt to these changes stand to gain competitive advantages in reaching and engaging their target audiences.
What's Next?
The future of commerce media is likely to involve further consolidation and collaboration among industry players, as emphasized by experts at the summit. The role of artificial intelligence in accelerating these trends is anticipated, although the fundamentals of identity and personalization will remain crucial. Companies are encouraged to invest in interoperable systems and expand their market reach by targeting overlooked segments such as small businesses. As commerce media continues to evolve, marketers will need to focus on building trust and delivering measurable outcomes to succeed in this new landscape.
Beyond the Headlines
The rise of commerce media also raises questions about privacy and data security, as companies increasingly rely on first-party data to personalize consumer experiences. Ethical considerations around data usage and consumer consent will be important as businesses navigate this new marketing paradigm. Additionally, the shift towards commerce media may influence cultural perceptions of advertising, as consumers encounter more personalized and integrated marketing experiences in their daily lives.
