Greener Pastures Ahead: Scott's & Home Depot's RMN Team-Up
Ad Tech Insights
Rooted In Data
The story: Lawncare brand Scott’s Miracle-Gro is capitalizing on the upcoming season by featuring commercials in The Home Depot ’s newly rebranded retail media network, Orange Apron Media by The Home Depot . Scott’s has been a key partner since Home Depot began their retail media business in 2022, and is now among the first to test its new channel expansion into connected TV (CTV) and streaming.
Scott’s has showcased their experimental and proactive approach to retail media, engaging with networks to access first-party data and insights -- essential pieces in their marketing strategies. While Scott’s itself doesn’t heavily collect first-party data, partnering with RMNs allows them to benefit from retailers’ consumer data.
The takeaway: The Scotts Miracle-Gro Company ’s strategic use of RMNs to enhance their marketing efforts grants them valuable first-party data and insights, driving more effective targeting and campaign performance measurement. An investment in retail media, especially early on in development, allows Scott’s to influence the growth and customization of the platform, ensuring RMNs will meet advertiser needs.
Extra Industry Insights
- In-store shoppers still account for 70% - 90% of traffic for many retailers, delivering audiences at scale.
- 53% of CPG brands and agencies want to primarily drive mid-, upper-, or full-funnel objectives, according to Boston Consulting Group (BCG) ’s 2024 CPG Retail Media Benchmarking Survey.
- Lower-funnel objectives, however, continue to make up the remaining 47%.
- Retail advertisers grew their cookie alternative investments by 117% in Q4 2023.
- Cookieless inventory costs about 40% less than cookies inventory on the same site, meaning that cookieless could quickly become a large and effective piece of re-targeting strategies.
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In ExchangeWire ’s latest episode of TraderTalk TV (TTTV), Kevel CEO & Founder James Avery joins ExchangeWire CEO Ciarán O'Kane at the whiteboard to discuss retail media and more. We’ve boiled it down to our top 4 key takeaways.
Check out the full blog post here.
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