Sonder was commissioned by BCF to review their owned media ecosystem, providing an audit of the media assets, a valuation of the ecosystem and a detailed ratecard for every media format. The analysis highlighted the huge potential of BCF stores and how under-leveraged they were based on the audience volume the brand attracts.
The business had made sound use of their email program and catalogues, both of which had strong commercial potential. Whilst these assets were well developed, other areas needed further development. Social media, website and instore were all identified as assets that could be improved from a commercial standpoint.
Armed with a benchmarked ratecard, BCF are now able to recognise the value of the media they are providing supplier brands. Structured models for seasonality and targeting premiums were also provided to ensure BCF can recognise the maximum value of retail media solutions. This ability to quantify media value at a campaign level empowers retailers like BCF to improve commercial trade negotiations and opens the door to generating new income through retail media.
Sonder’s work provided a roadmap for BCF based on sizing the prize in the retail media context; educating internal stakeholders; and providing a recommendation to operationalise a retail media solution. The roadmap enables retailers to create a new growth platform by leveraging the value of their retail media assets more effectively.