Retail Media Networks (RMN) hit the market with fanfare a few years ago as retailers explored how to monetize their first-party data. But a successful RMN must be founded on closed-loop measurement, self-serve access to insights, and data collaboration.
Prioritize granular measurement and insights as you scale your ad platform and help brands reach consumers at critical points in the buyer journey.
Streamlined Ad Management
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Streamlined ad management allows marketers to maximize insights, optimize media and creative performance, and increase efficiency with a single view of truth across digital campaigns. Centralize ad serving across the web, mobile apps, video on YouTube, and connected TV to streamline day-to-day ad-serving operations and allow teams to spend more time on strategic campaigns. Scale audiences are leveraging first-party data and DMP segments to target based on offline consumer attributes, behavior, and product preferences. Create and deliver personalized creative at scale for various Facebook ads, including carousels, ad sets, and stories. Boost campaign performance with intelligent recommendations, optimizations, and automation.
Product visibility is critical for CPG brands to get shoppers to buy their products. In today’s crowded retail settings, there are often hundreds of competing products on the shelf that need to be seen by consumers. Retailers and brands alike have been working to improve this visibility in many ways. For example, placing the product in a prominent location, such as a front aisle or checkout, can increase visibility. Another method is to use color blocking and highlighting to draw shoppers’ attention to the product.
Another way to improve product visibility is through retail media network solution. These retail-owned advertising platforms provide access to highly targeted audience data and deliver ads relevant to the shopper’s purchase intent. They are also a great way to generate new revenue for retailers.
A media network solution can help retailers automate ad management processes and increase efficiency. This allows them to free up resources to focus on driving business growth.
In the modern digital world, it is increasingly vital for retailers to utilize media networks that enable them to monetize their data and offer a more personalized experience for their customers. A media network solution can be the most effective way to achieve this. A media network can transform the retail industry by leveraging a comprehensive solution that combines all aspects of the retail experience, including data monetization.
Better Returns on Investment
Retail media networks offer several benefits to both retailers and advertisers. Retailers help monetize their existing website traffic and provide a new revenue stream. Advertisers allow brands to target highly relevant audiences with personalized content that is most likely to convert to sales.
RMNs also offer brand marketers the opportunity to make their ads shoppable. This allows consumers to click on an ad and instantly be directed to the product page or checkout. This capability is precious for consumer goods brands because it meets growing consumer demand for convenience, enabling them to drive more targeted and measured advertising results.
Retail media networks are becoming increasingly popular among consumer goods companies as they offer a range of benefits that can boost ROI. These include a more targeted approach to reaching shoppers, a higher conversion rate, and a better return on investment. But with so many RMNs in the market, it can take time to identify the best one for your business. This is particularly true when they have different data management and attribution standards, which can create silos of customer information that are hard to bring together. To avoid these issues, looking for an RMN that offers a unified platform that can be used across all your channels is essential.
Data-driven decisions are an integral part of managing a business, from executives making planning decisions to employees on the front lines deciding how to engage with customers. The most successful companies today recognize that a data-driven approach to decision-making is the key to outshining competitors and driving growth.
Retailers must make various decisions, from analyzing customer purchasing habits to understanding product performance and inventory management. Fortunately, many of these decisions can be made using powerful analytics tools that allow retailers to make data-based choices and create actionable benchmarks for success.
Access to high-quality, reliable data is critical, whether it’s the results of a survey or a store’s internal sales and traffic statistics. However, having access to the correct data is only half the battle. It’s also crucial to quickly and easily analyze data to identify patterns and trends.
Retailers can make informed decisions using the data to improve operational efficiency and boost profitability. For example, a retailer’s sales and traffic data can reveal trends in customer behavior, such as when customers are most likely to buy. This information can help a retailer decide where to open new stores. Similarly, spatial analysis can be used to understand consumer shopping behaviors and determine the best retail locations.