Why siloes are the enemy of growth and how to avoid or overcome them when starting a retail media network

When it comes to building a successful travel retail media network (RMN), scalability is key. But in order to scale effectively, you need to ensure all your ducks are not only in a row but also working well together. While this sounds relatively straightforward, in the world of retail media there are siloes lurking around every corner, waiting to trap you and hamper your success. 

Thankfully, if you know the warning signs and put time and effort into planning your retail media network, the silo risk can be mitigated. So, what are these pitfalls and how can you navigate them on your retail media journey?

#1: The manual silo 

Probably the most obvious on the list, manual processes are well known to be problematic. In fact, they are often the driving force behind travel organizations looking to retail media solutions in the first place.

“Often we see businesses who have really well thought out processes but the fact they are manual limits their effectiveness. To scale, they might start automating some of them, bit by bit. Maybe they start with CMS or social, but at the heart of it there are still manual processes underpinning the marketing ecosystem,” says Stuart Adamson, CEO, Platform 195. 

As a result of these manual processes, scaling your co-marketing or growing your media partnerships revenue is nigh on impossible.

“When you rely on manual processes you can’t deliver high volumes of campaigns for partners with smaller budgets,, which limits your revenue opportunities. The workload is just too high, for every campaign you have to create it, get it live, optimize it, screen shot it, report it, it just isn’t viable to scale this work when you rely on manual systems and processes,” adds Stuarts. 

#2: The two many cooks silo 

Closely intertwined with the manual silo, the too many cooks silo poses an issue when you have a process that is split across multiple teams. End-to-end, co-marketing campaigns often require input from marketing teams, e-commerce teams, design teams, external agencies and more. 

“We tend to see organizations where co-marketing and media partnerships are an adjacent revenue stream, rather than a core one. The problem with this is that the tasks related to it aren’t often high on the priority list, and when you consider how many people are involved, it can really slow down the process of running an effective campaign, and impact its profitability too,” explains Stuart. 

#3: The technology silo 

Technology is often seen as the answer to end all siloes but it can also exacerbate them. When looking at technology, you need to take a holistic view and consider all the processes you are trying to automate, and all the involved parties. 

“It’s very common for a company to try and solve a problem with technology, for example you might bring in an email platform or an ad server. Suddenly you are collecting data you weren’t before so it’s easy to think you have solved the problem,” says Stuart.

“But actually, what you now have is multiple efficient systems that don’t connect, siloed data, and a campaign manager who is having to log into six different systems to get their work done,” he adds.

So, how do you avoid the three siloes of retail media?

Firstly, look for a single solution that addresses all the moving parts. There are many retail media platforms and solutions in market but not a lot that offer a complete end-to-end ecosystem. Take the time to understand all the manual processes you have, and all the people who are involved, to really understand what it is you need to scale. 

“When building a retail media network, you need it to be seamless and to do that you need to be strategic and look at the complete picture rather than one part of it,” says Stuart.

Secondly, identify a partner who really understands your business and the nuances of your industry.  A partner with extensive travel industry experience will be more likely to offer a solution tailored to your needs. Travel is very different to retail; typical customer journeys and buyer behaviour can vary and it helps to work with someone who understands that.

From siloed to scalable

With the right strategy, technology, and partner your retail media network will be ready to grow. When you have a good ecosystem in place, you can free up a huge amount of time and resources. Additionally, you can offer partners more solutions and ad space, and gather valuable data to fuel your activity.

“With everything automated, suddenly you can go after the small deals that were previously too time intensive. When you think about how many smaller deals you can now pursue, suddenly your retail media revenue stream becomes really interesting,” concludes Stuart.

Are you looking to grow your travel retail media network? Platform 195 is a retail media solutions and intelligent marketing agency powered by data creativity, and marketing technology. Born from the travel industry, our team knows what works and why. We use this expertise, along with data and our own curiosity, to identify opportunities for growth and create powerful partnerships that generate measurable impact. 

Ready to Uplift your media network? Contact the team at Platform 195 today hello@platform195.com. 

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