Unlocking Retail Media Network (RMN) Potential with Keen... Retail media is the fastest-growing ad channel in the US, growing by 26.0% this year and capturing 14.1% of total US media spend. By 2028, nearly 1 in 5 ad dollars in the US will be devoted to retail media. Yet, this channel has the potential to drive greater impact. Here are the biggest challenges facing RMNs today, and how Keen can be the solution: 1. Lack of Standardization: Inconsistent ad types and measurement make it difficult to compare RMNs. Keen Solution: Our platform incorporates RMN spending across retailers, enabling advertisers to gain clear, comparable insights, ensuring they get the optimal spend by retailer, including halo effects and interactions with other marketing investment channels. 2. Competing with Amazon: Amazon dominates the RMN landscape, holding 77.0% of the US retail media ad spend. Keen Solution: Keen’s advanced analytics empower advertisers to identify and leverage opportunities across all retailers, including with non-Amazon RMNs. This maximizes the value of their ad dollars in an increasingly competitive market. 3. Off-site Integration: Integrating off-site retail media is complex and challenging. Keen Solution: We put all marketing tactics in the same optimization model, accounting for the impact and interaction effects of on-site vs. off-site efforts. 4. Siloed Budgets: Separate teams manage different marketing efforts, hindering a holistic approach. Keen Solution: While organizational structure changes would help, Keen facilitates a holistic view of marketing budgets. This helps in breaking down silos and ensuring cohesive strategies across the full marketing funnel, preventing redundant spend and uncovering missed opportunities. Why RMN Optimization is Becoming a Core Use Case... Retailers and brands need to navigate these challenges to fully unlock the potential of retail media and get to the right mix of spending between RMN’s and other marketing channels. At Keen, we’ve made RMN optimization a core focus to address these exact issues. By leveraging our platform, advertisers can land on the right retail media strategy, making informed decisions that drive better outcomes. Of course, this information can also help sales teams with information necessary to better negotiate with retailers. Connect with us to discover how Keen can optimize your RMN spend and elevate your marketing strategy to new heights. #RetailMedia #MarketingOptimization #KeenInsights #AdTech #DigitalMarketing #MediaSpend #RetailGrowth Feel free to connect for more insights and let’s make the most out of every marketing dollar spent!
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"Retail Media Networks generated $124 billion of ad revenues globally in 2023, and about $43 billion in the U.S. Retail Media Networks represent 15% of global advertising revenue. Some 87% went into keyword search-based formats. Magna predicts global Retail Media Networks -- mostly run by ecommerce platforms like Amazon or traditional retailers like Walmart -- will rise 20% outside of China." #universalcoupon #retailmedia #omnichannelmarketing #attribution https://lnkd.in/gxyF5qG9 Brandi Johnson Brett Watson Elva Lewis Tim Hauser Emory Bellard III Jeff Hudson Ralph Maresco Abhijit Das
Search Growth Slows As Retail Media Takes Lead In Agency Forecasts
mediapost.com
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In Gartner’s 2023 CMO Strategy and Spend Survey, consumer products CMOs allocated 7.4% of digital paid media budgets to retail media networks, affiliates and co-op advertising. #cpg #consumergoods #retail #retailmedia #groceryretail #incpg
The CMO’s Guide to the State of Retail Media Networks
adweek.com
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Search is the driving force behind the growth of Retail Media Networks. Amazon and Walmart create a demand for search, but can other media outperform retail media? Media must compete based on its own merits since first-party data can be easily replicated. #retailmedianetworks #search #shoppermarketing #retailrelevancy
"Retail Media Networks generated $124 billion of ad revenues globally in 2023, and about $43 billion in the U.S. Retail Media Networks represent 15% of global advertising revenue. Some 87% went into keyword search-based formats. Magna predicts global Retail Media Networks -- mostly run by ecommerce platforms like Amazon or traditional retailers like Walmart -- will rise 20% outside of China." #universalcoupon #retailmedia #omnichannelmarketing #attribution https://lnkd.in/gxyF5qG9 Brandi Johnson Brett Watson Elva Lewis Tim Hauser Emory Bellard III Jeff Hudson Ralph Maresco Abhijit Das
Search Growth Slows As Retail Media Takes Lead In Agency Forecasts
mediapost.com
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Interesting post from Claudia Ziegenbein at EssenceMediacom predicting #retailmedia collaboration from "a group of non-competitive retailers, focusing on different product categories" and that "retailers will align commercially on their retail media offerings by unifying into one retail media network". I'm not convinced, here's why: The inherent problem here is that retailers collaborating is not like publishers collaborating (e.g. Ozone | Powering the premium web). Even if we put the potential regulatory issues to one side (hello GSCOP), the (endemic) media spend retailers receive usually contributes to trade commitments. This has a couple of ramifications. 1. In a network model, as a supplier, I still want to know how much of my spend has gone to (e.g.) Morrison's if it's within a network. And, if (e.g.) Iceland exists in the same network, I want to know what % of my spend went there too. So far so good. However, if I'm maxed out against my spend/stock targets with Iceland, or my trading relationship is in a poor state, then I'll want the network to decrease the % with Iceland and increase the share going to Morrison's. Can I control that? 2. P&G has a well-known trading policy called 'Fair Share'. Does the network decide what share of spend goes to which retailer? Is there a paper trail I can access to ensure I'm attributing my spend fairly amongst my retail partners? Again, can I control that if it's off guidance? These scenarios were part of our daily conversations at HookLogic, Inc. (Acquired by Criteo in 2016)! So focus on non-endemic? As Claudia points out, some of this can be avoided by non-competitive retailers grouping together. Unlimitail has Kingfisher plc & Carrefour, but not Auchan Retail. But, if I'm The Coca-Cola Company, what's the advantage of this non-competitive networked model? I'm probably not as interested in my ad dollars being spent at scale on anything other than Carrefour? There's really been no operational efficiency improvement, it's actually now another way to buy Carrefour and compounded the problem? A non-endemic advertiser like BMW wouldn't care about this, and focus on results and scale. The main point in the prediction is around standardisation, which is 100% right. Amazon is ~90% of most digital retail media spend. If I was a retailer I'd consider offering a view of performance like-for-like with Amazon's. That's the easiest way for an agency ad buyer to easily compare with their biggest investment, and shift ad dollars over. I could well be missing a key point here (e.g. data collaboration = scale). Would love to hear thoughts. Will the French retail media network model soon crop up in other markets? Does it solve some of the US scale vs European fragmentation issue?
EssenceMediacomUK New Year’s Prediction 5 of 8: A UK RETAIL MEDIA TRADE BODY IS ESTABLISHED, BUT EXCLUDES AMAZON Last year was undoubtably the ‘year of retail media’. 2023 was marked by significant growth, innovative propositions, and the growing recognition of first-party data as the most accurate and relevant source of consumer insights in the post-cookie era. Investment has followed with retail media counting for 14% of all global ad spend in 2023; 80% of which with Amazon (GroupM). But, consumers are not loyal to a single retailer; our shopping decisions are influenced by a multitude of factors, from compelling offers and promotions to loyalty programs (eMarketer) and convenient delivery options. For retail media to truly revolutionise digital advertising and establish itself as the third wave of the industry, it needs a robust competitive landscape that pits Amazon against a unified coalition of major UK retailers. History has shown time and again that investment in digital advertising accelerates when advertisers can access a diverse range of media channels through networks and DSPs, rather than being limited to single media providers with fixed audiences and inventory. My prediction, fuelled by a mix of hope, wish, and dream, is that we will witness a collaborative effort among major UK retailers to establish a coalition for retail media brands into one network. Retailers are already getting around the table for standardisation of ad formats, transparency etc. with ISBA, but I believe it will go one step further, and retailers will align commercially on their retail media offerings by unifying into one retail media network to take on Amazon. Cohesiveness and collaboration will be key, but with brands crying out for more choice with their retail media spending, now is the time for this to happen. This platform would offer a simple and standardised approach to reaching the most powerful audience, providing advertisers with an unparalleled platform to connect with consumers and potentially capturing a significant portion of the advertising pie from major brands. While I understand the challenges of getting major UK retailers to play nice, I believe that a group of non-competitive retailers, focusing on different product categories, could potentially revolutionise the retail media landscape and disrupt Amazon's dominance. Therefore, I hope sometime over the festive period Ken, Simon, Rami and the Issa brothers, were on conference call to a couple of German connects devising a plan of collaboration that meant that could truly take Jeff’s lunch in the UK and really blow the doors off this proposition. 2024 will be the year of ‘retail media collaboration’ to help UK retailers claim lead to the digital advertising arena. @EssenceMediacomUK #2024Predictions #BreakthroughThinking
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VP of Supplier Engagement, Amercias @ adm Group | Iowa State, PhD Candidate | Adjunct Professor @ The Fashion Institute of Technology | Business Analytics HBAP Harvard University | MBA Syracuse University
📢 Exciting Times in Retail Media Advertising! 🛒💼 I just read a fascinating article on Business Insider about the surge in Retail Media Advertising, and it's shaking up the advertising landscape, challenging traditional giants like Google. Here are the key takeaways: 1️⃣ **Retail Media's Meteoric Rise**: Retailers are capitalizing on their digital platforms to offer brands a direct pathway to consumers. The article reveals how this has led to a substantial increase in ad spending within these ecosystems. 2️⃣ **Google Facing New Competition**: As Retail Media Advertising gains traction, it's posing a formidable challenge to Google's dominance in digital advertising. Brands are now diversifying their advertising budgets and exploring alternative channels. 3️⃣ **Data-Driven Insights**: Retailers have a unique advantage - access to valuable shopping data. This wealth of information enables advertisers to target their audience more precisely, optimizing ad campaigns for better ROI. 4️⃣ **The Importance of Collaboration**: The article underscores the significance of collaboration between retailers and brands. Strategic partnerships can lead to innovative ad formats and mutually beneficial growth. 5️⃣ **Adapting to the Future**: To stay competitive, brands must adapt to this evolving advertising landscape. Retail Media Advertising is on the rise, and those who embrace it stand to gain a competitive edge. Read the full article below 👇🏾 #RetailMedia #AdvertisingTrends #DigitalMarketing
The $128 billion retail media industry is the hottest space in advertising right now — and its growth tear is coming at the expense of Google and TV
businessinsider.com
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Prediction (mambo) number 5! GroupM predicts that retail media will account for 14.4% of all ad spend; 80% of which is hoovered up by Amazon. For UK retail media to not just grow, but accelerate exponentially an uneasy of union of vendors would be a bold but breakthrough move. Indeed, look to the past and for all the faults of digital networks they galvanised and accelerated spend in the early days and set the category and the players within them for global domination. Excellent provocation from Claudia Ziegenbein, Nick Baldwin and Emory Garrett #2024Predictions #BreakthroughThinking
EssenceMediacomUK New Year’s Prediction 5 of 8: A UK RETAIL MEDIA TRADE BODY IS ESTABLISHED, BUT EXCLUDES AMAZON Last year was undoubtably the ‘year of retail media’. 2023 was marked by significant growth, innovative propositions, and the growing recognition of first-party data as the most accurate and relevant source of consumer insights in the post-cookie era. Investment has followed with retail media counting for 14% of all global ad spend in 2023; 80% of which with Amazon (GroupM). But, consumers are not loyal to a single retailer; our shopping decisions are influenced by a multitude of factors, from compelling offers and promotions to loyalty programs (eMarketer) and convenient delivery options. For retail media to truly revolutionise digital advertising and establish itself as the third wave of the industry, it needs a robust competitive landscape that pits Amazon against a unified coalition of major UK retailers. History has shown time and again that investment in digital advertising accelerates when advertisers can access a diverse range of media channels through networks and DSPs, rather than being limited to single media providers with fixed audiences and inventory. My prediction, fuelled by a mix of hope, wish, and dream, is that we will witness a collaborative effort among major UK retailers to establish a coalition for retail media brands into one network. Retailers are already getting around the table for standardisation of ad formats, transparency etc. with ISBA, but I believe it will go one step further, and retailers will align commercially on their retail media offerings by unifying into one retail media network to take on Amazon. Cohesiveness and collaboration will be key, but with brands crying out for more choice with their retail media spending, now is the time for this to happen. This platform would offer a simple and standardised approach to reaching the most powerful audience, providing advertisers with an unparalleled platform to connect with consumers and potentially capturing a significant portion of the advertising pie from major brands. While I understand the challenges of getting major UK retailers to play nice, I believe that a group of non-competitive retailers, focusing on different product categories, could potentially revolutionise the retail media landscape and disrupt Amazon's dominance. Therefore, I hope sometime over the festive period Ken, Simon, Rami and the Issa brothers, were on conference call to a couple of German connects devising a plan of collaboration that meant that could truly take Jeff’s lunch in the UK and really blow the doors off this proposition. 2024 will be the year of ‘retail media collaboration’ to help UK retailers claim lead to the digital advertising arena. @EssenceMediacomUK #2024Predictions #BreakthroughThinking
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Chief Executive Officer at National Tree Company | Innovating CPG, retail and eCommerce | Driving organizational growth and leadership
In this transformative era of #CommerceMedia, the boundaries between shopping and advertising are dissolving, creating exciting opportunities for brands, consumers, and media owners alike. 🛒 Commerce media serves as a vital tool for media owners, such as publishers and retailers. They can leverage their first-party data and inventory, packaging it attractively for advertisers. This strategy allows them to effectively drive commerce outcomes, making commerce media a comprehensive solution that benefits various stakeholders in the digital advertising ecosystem. #CommerceMediaRevolution #AdvertisingTransformation #CommerceMediaTrends
Commerce Media: Advertising's New Playground? - ExchangeWire.com
https://www.exchangewire.com
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The exponential growth of Retail Media networks is adding a lot complexity for advertisers #retailmedia #ads https://buff.ly/3MAAT50 Retailers like Walmart, Kroger, and Instacart are building advertising businesses to cash in on advertising, but advertisers say it’s tricky navigating all of the platforms 🛍️📈🤔 Advertisers said each retailer requires a custom program, and the ads only reach a small audience. Advertisers also said each retail ad platform has different ways of buying and measuring ads 📊👥📉 EBay, Ulta, Walmart, Kroger, Lowe’s, and Instacart are trying to copy Amazon by building advertising businesses, but brands struggle to buy and manage ad campaigns across the growing number of platforms 🛍️📈🤝 Retail media is essential — it’s a lower funnel and ultimately driving to a sale. Even though it’s an important part of the mix, there are so many different retail media houses that we have to make choices 🛍️📈💰 The capabilities and the variance of the platforms are crazy extreme. The strategy has to be so different and specific by individual platforms that it is tough to approach this at scale 🤯🛍️📈 A crop of retail adtech firms aims to solve these issues with software that can buy ads across a network of retailers. But not every retailer participates 🛍️📈💻 Advertisers anticipate spending more on retail media networks in the next 12 months, with retail media networks capturing an estimated 10 to 15 percent of total media spend 📈💰🛍️
How advertisers are grappling with the influx of retail media networks
digiday.com
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Product Marketing Lead at Tata Consultancy Services | Driving Growth with Innovative Marketing Strategies
The explosion of retail media has been so seismic that Insider Intelligence has crowned it the “third big wave of digital advertising” (search advertising and social media advertising were the first two). And The Mars Agency recently declared: “Retail media is now almost universally recognized as one of the most effective methods of commerce marketing.” In 2022, global retail media revenue reached $101 billion, according to GroupM. That figure represents 18% of all global digital advertising and 11% of all advertising. In the U.S. alone in 2023, Insider Intelligence projects that retail media spending will reach $45 billion.
Retail Media: Everything You Need to Know - Retail TouchPoints
https://www.retailtouchpoints.com
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“Advertiser spending on retail media networks in the U.S. is forecast to jump 30% this year, with growth largely coming from offsite programmatic media, according to a new report from Advertiser Perceptions.” #retailmedia #retailtrends
Retail media’s rise increasingly reliant on offsite programmatic media, report finds
marketingdive.com
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