Join Mike Pollack, the CRO of GroceryTV, and myself in today's episode where we're breaking down:
1. What it means to scale as a modern media company
2. How to unlock distribution with focus
3. And dive deep on why Retail Media Networks (RMNs) are so hot
A bit about Mike...
Mike Pollack is the CRO of Grocery TV, an in-store retail media network with over 19,000 digital displays across more than 200 retail partners in nearly 4,000 stores where shoppers rack up an astonishing 270M monthly visits and today we’re going to unpack three keys to successfully scaling modern media companies - the importance of having systems and a defined product for your business, the leverage that distribution creates, and we’ll finish strong with a rapid fire retail media Q&A, talking about the current wave of innovation and focus and the biggest challenges facing adoption of in-store retail media.
Highlights and Key Concepts:
- The Power of Having Systems and a Defined Product:
- How News America Marketing attributed success to their strong product and dominance in advertising and promotions in 60,000 stores.
- The company's sales development program focused on recruiting and training sellers, resulting in a well-trained and loyal sales force.
- Focus and sacrifice are essential in building a successful business, and having clear objectives and priorities is crucial.
- Leveraging Distribution for Scaling:
- GroceryTV's focus on digitizing in-store experiences has led to their impressive growth.
- By starting with smaller retailers and gradually moving up to regional and national retailers, they have built a diversified portfolio of reach.
- Distribution is key to generating brand interest and reaching valuable audiences inside the store.
- The Current Wave of Innovation in Retail Media:
- Retail media is the second fastest-growing major ad format, projected to surpass linear TV by 2025.
- Retail media networks address the need for reaching specific audiences in a contextually relevant environment.
- The digitization of in-store experiences allows for dynamic, real-time, and triggered advertising, enabling brand storytelling and performance-driven campaigns.
- Challenges and Opportunities in Adoption:
- Matrixed organizations and silos within retailers and brands have been a challenge in driving wider adoption of retail media.
- Measurement plays a crucial role in understanding the impact of retail media, with metrics ranging from awareness and recall to incremental sales lift.
- The integration of teams and breaking down silos can lead to more effective and integrated campaigns.
So if you want to learn more about the keys to successfully scaling modern media companies and the current wave of innovation in retail media:
