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!
Greg Dolan’s Post
More Relevant Posts
-
Triangulation can lead to the dreaded "3 C's" --- cost, conflict and complexity and actually lead to a 4th "C", confusion. As mentioned in this post, measurement is about making better decisions, not just identifying some cool data point. If you're using a lot of different methodologies, tools, data-science teams and consultants, it obviously gets really expensive really quickly. If you're trying to compare analyses from different studies based on different data sources at different levels of granularity, conflicting results will emerge. This all leads to a lot of complexity. In the end, it will make the decision that needs to be made much more confusing. Be strategic and intentional about what each measurement approach's "job" is and how they work together.
Hot take: I think triangulation in marketing management is absolutely useless. Here's why (and how to think about the hierarchy instead): First, some context: There's a lot of buzz about "triangulation" in marketing analytics circles. Lots of vendors are pushing it as a silver bullet. But every time I hear it, it's like nails on a chalkboard. But here's the thing: Triangulation isn't some form of “magic”. It's simply using multiple measurement methodologies to validate a finding. Which sounds great in theory. But in practice, it doesn’t work. It's like trying to dig a hole with a screwdriver, then a shovel, then a backhoe. Doesn’t make any sense, right? The reality is that different measurement techniques have different use cases. You need to match the right tool to the right job. Trying to mash them all together doesn’t work. So, here's how I like to think about the hierarchy instead: 1) For broad, cross-channel comparisons (e.g., how Facebook performs vs. Google vs. TV), use techniques like market mix modeling (MMM). These are great for unified macro insights. 2) For tactical campaign refinements (e.g., which specific ad creative is performing best on TikTok), use the native testing tools in each platform. Their conversion lift tests have the most granular data for those micro-optimizations. 3) For a balance of cross-channel consistency and reasonable granularity, geo experimentation is the way to go. It's not as macro as MMM, but more granular than siloed platform testing. Each of those approaches is valid and valuable on its own. But trying to triangulate between them to arrive at some imaginary "perfect" answer? That's where you start to get shaky, non-actionable insights. Ultimately, the goal of measurement is to make better decisions. Not to create statistics that make you feel good but don't drive results. Use the right tool for the right job and make that job actionable. #marketingscience #marketinganalytics #marketing
-
Coming back from a great week at Cannes Lions and, not surprisingly, there was a ton of chatter around the exponential growth of retail media networks (RMNs). As this growth continues, the need for standardization and holistic allocation decisions becomes crucial. At Keen Decision Systems, we understand the challenges marketers face with organizational silos and disparate data and measurement standards across RMNs. However, we can uniquely help to level the playing field and ensure that brands are spending optimally across and within RMNs. While organizational silos can limit a company's ability to make holistic allocation decisions, our platform empowers teams with robust data, providing brands the insights they need for effective Joint Business Plan (JBP) negotiations with retailers. 🛠️ Here's how the Keen Platform makes a difference: Unified Insights: Our platform integrates data from various RMNs, allowing for apples-to-apples comparisons and smarter spending plans. Strategic Allocations: By providing a clear view of what’s working across all channels, we help brands allocate their budgets more effectively and pivot quickly when investments are falling short of expectations. Empowered Negotiations: With comprehensive data at their fingertips, brands can enter JBP negotiations with confidence, armed with the insights needed to drive better decisions with retailers. Every retailer is asking for more, but Keen can pinpoint pockets of opportunity and identify areas where brands are overspending. Our platform takes into account interaction and halo effects to provide a comprehensive view of your marketing spend. The media landscape is rapidly evolving, and brands must adapt to stay ahead. At Keen Decision Systems, we're committed to breaking down silos and driving smarter, data-informed, prescriptive decisions with predictive financial outcomes. #RetailMedia #MarketingStrategy #DataDrivenDecisions #KeenDecisionSystems #CommerceMedia #RevenueManagement
Retail Media Challenges Hinder Growth, Marketers Say in Cannes
adweek.com
-
I couldn't agree more with this statement and have been saying it for years...“Gone are the days when marketing campaigns were built solely on intuition and creative flair. Today, the most successful marketers are those who have embraced the power of AI and ML to drive data-driven decision-making and hyper-personalized customer experiences.” In today's rapidly evolving and complex marketing landscape, the marketing discipline now requires a blend of art and science. To be effective, marketers must evolve with the times, leveraging data, technology, AI, and ML to make decisions and stay ahead. #Marketing #AI #MachineLearning #DataDriven #FutureOfMarketing #Innovation #Efficiency #ROI https://lnkd.in/egfKtfDY
The Automated Future of Marketing: AI and ML Take the Reins
https://techbullion.com
