Commerce media in the digital age: Learnings from Experian’s Chris Feo

The retail media sector is experiencing explosive growth, with projections indicating it will account for nearly a quarter of all US media ad spending by 2028. Companies that traditionally focused on selling products and services, like Marriott, Best Buy, and Target, are now transforming into ad tech entities. This shift requires a fundamental change in talent, technology, and data management practices. Chris Feo, Senior Vice President of Global Sales at Experian, provides a unique perspective on this evolution. Chris deeply understands how data and technology intersect to drive business success; his perspective offers valuable guidance for brands looking to navigate the complexities of the digital age.

Retailers are entering the advertising technology space

Retailers are evolving beyond their original purpose to become key players in the advertising space. This transformation is driven by the need to better manage data and technology to deliver more relevant and targeted advertising experiences. Feo explains, “There’s going to be an organic shift in talent, DNA, technology, how much data they’re going to store. It’s a completely different type of behavior than products on shelves.”

This evolution highlights the need for businesses to adapt quickly and leverage AI to manage the vast amounts of data they collect. AI can help these companies store and analyze data and make real-time decisions that enhance the customer experience.

Harnessing the power of first-party data

First-party data is critical for creating personalized customer experiences. This data is collected directly from customer interactions and provides rich insights. Feo notes, “First-party data is key. Every brand looks through a keyhole of their customer, how their customer wants to be seen.”

First-party data includes information such as purchase history, browsing behavior, and engagement with the brand. AI can transform this data into actionable insights, predicting consumer behavior and enabling brands to deliver targeted advertisements and personalized experiences. This predictive capability is essential for staying competitive in the commerce media space.

AI as the catalyst for enhanced customer experience

AI’s ability to predict outcomes and tailor content is revolutionizing the way brands interact with consumers. Feo discusses the dual role of AI in both predictions and enhancing customer experiences. “You integrate AI or predictions across all of that and it becomes a very powerful vehicle,” he says.

AI can analyze vast datasets to identify patterns and preferences, allowing brands to deliver the best ad to the best consumer at the best time. This capability not only improves the relevance of advertising but also ensures a seamless and engaging customer experience. By leveraging AI, brands can meet consumer expectations more effectively and drive higher engagement and conversion rates. Feo describes this as the “holy grail”, saying, “Can I get the right ad to the right consumer? Well, what if it’s not just the advertisement, but it’s the advertisement plus the engagement that they’re having with the brand at that moment of time, coupled with the ability to physically buy and then be able to measure that outcome…the holy grail.”

Embrace data-driven strategies with Rokt’s AI

AI is here to stay, and as it transforms industries, it is crucial for brands to stay ahead of the curve. Feo’s insights underscore the importance of focusing on first-party data and ensuring customer relevance. At Rokt, we understand the power of these tools and have developed advanced AI solutions to help brands thrive in the new era of digital advertising. By harnessing first-party data, making real-time decisions, and maintaining high standards for customer relevance, Rokt empowers businesses to optimize their transaction moments and achieve better results.

To learn more about how Rokt can enhance your e-commerce and retail media strategy, visit our Rokt Ecommerce page.

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