I Don’t Have Room on my Roadmap
When we talk to customers about Retail Media, one of the objections we hear often is the the Roadmap objection: “my engineering team doesn’t have any bandwidth right now. Come back next year.”
As they say, the devil is always in the details. Let’s look at a Retail Media implementation through the lens of a prioritization framework such as RICE: Reach, Impact, Confidence, Effort and score it with a t-shirt size value: S, M, L, XL.
Reach. Retail Media will have an impact on the experience of every customer coming to your site. Hence, XL for Reach.
Impact. If you look at the financial performance of Amazon Ads or Walmart Connect, you’ll realize how much money these retailers make from Retail Media. So another XL for Impact.
Confidence. In our experience, we’ve yet to hear a failed Retail Media story. As more and more companies are jumping on the bandwagon, the degree of confidence keeps going up as well. Another XL.
Effort. Well, this is where it’s going to get ugly, right? Not so fast. Let’s take a look at what it takes to implement a Retail Media solution.
Ingest Product Catalog. Most retailers these days send their catalog data to Google using Goolge’s standard Product Feed format. At Fiteo, we will consume your Google Feed file within one day. Your effort: zero.
Call Fiteo’s Sponsored Products API. Here, your engineering team will need to make changes to your front-end code. Having done this before, we know that this effort takes less than 2 dev days, and of course, we have a detailed implementation guide to help your engineers fast-track this change.
Wire up the Analytics API. In this step, your engineering team will need to send Fiteo signals for when a sponsored product is viewed, clicked on, or purchased. Another 2 dev days of effort, also with a help of a detailed implementation guide.
Test everything end to end. It’s not even Friday, and you already have sponsored products integrated into your online store. We recommend a full week of testing to make sure your business and technical KPIs (order rate, CTR, load time, etc.) are stable.
Even in the most conservative scenario, we are talking 2 dev weeks to get Retail Media integrated into your store front. We’ll size this effort as S.
To re-cap, a Retail Media initiative would likely receive the following scores with RICE:
Reach: XL
Impact: XL
Confidence: XL
Effort: S
While we don’t know what your have on your roadmap, one thing is clear: there isn’t hardly anything else other than mandatory Security and Compliance initiatives that woulds have scored like Retail Media. It’s a sure way to increase revenue incrementally, and you could be up and running in two weeks or less.
Schedule your online demo today and bring along a member of your engineering team. We’ll be happy to dive deep into the implementation details and prove to you that Retail Media is one of the quickest initiatives to get going with.
