Many companies today are sitting on a goldmine of first-party data that they want to monetize — and it’s never been a better time.
Commerce media is set to grow to more than $100 billion by 2026, which represents over 20% of advertising budgets. The creation and optimization of a commerce media network represents an unmissable opportunity for companies to drive new, high-margin revenue streams, and offer better ROAS and ROI to their advertisers.
However, building a commerce media network has historically been manual, time consuming, and resource-intensive, especially when it comes to audience building and data management.
Enterprise media teams can’t easily access their first party data from an enterprise data cloud without help from the data or engineering team, which often means multiple back and forth requests and wait times that stretch out for weeks. Accessing data from a marketing cloud has the same limitations with the added problem that data is stale and out-of-date. Ad Ops teams are made to wait in line to build audiences for their advertisers, resulting in missed deadlines and revenue opportunities.
Additionally, companies looking to build a commerce media network are often forced to work with disconnected, siloed off tools that lead to data duplication and lack of data governance, making it even harder to move fast and stay compliant.
The result is a process that is slow, manual, and risky — exactly the opposite of what is needed to compete in today’s ever-changing market.
But there’s a solution.
To move faster and launch their media network with confidence, companies need a modern Commerce Media tech stack that is built directly on the data cloud and enables granular, specific audience building.