IPG Mediabrands Launches Unified Retail Media Solution

According to the Association of National Advertisers 2023 study 82 of CMOs find a lack of standardization across Retail Media platforms quota challengequot or quota big challengequot The second most significant challenge reported by 68 of respondents was the walled garden approach used by retailersTo help brands navigate this popular retail advertising medium IPG Mediabrands Unified Retail Media Solution will bring openness and trust to the typically closed world of Retail Media at a time when brand spend in the space is growing rapidly It is powered by a unique tech platform that operates against four key principles Unified Audience Unified Measurement Unified Optimization and Unified Intelligence giving brands a clear and holistic view of their performanceamp160 Specifically the platform can decipher which Retailers are performing best and will automate crossretailer activation and optimization moving media spend between retailers to maximize sales and profitability Brands will have the option to augment their existing audience data via Acxiom data sets and the platform will automatically aggregate this crossnetwork data using IPG39s proprietary AIpowered tools to enable planning insights activation and optimizationLed by Glen Conybeare Executive Lead and with 500 multidisciplinary team members in support the Unified Retail Media Solution has been beta tested by IPG Mediabrands clients in the CPG Gaming and OTC sectors and already has hundreds of bespoke audiences built out with a roadmap to hit over 10000 by yearendquotBrands activating in Retail Media face the challenge of navigating through multiple closed garden networks each with their own data approach metrics and ROI methods This complexity is amplified for brands that also sell their products through these retailers Therefore it is crucial for brands seeking to maximize their investment to leverage data and insight across networks with an ability to make intelligent decisions in real time about whatamp8217s working and notquot said Eileen Kiernan Global CEO IPG MediabrandsquotWith this solution from IPG Mediabrands clients can make optimal decisions both within and across Retail Media Networks based on facts not hunches Itamp8217s another step forward in IPGamp8217s Total Commerce strategy along with IPGamp8217s Creative Commerce Labs helping to ensure brands grow share and do so profitablyquot added Jeriad Zoghby Chief Commerce Strategy Officer at IPGquotRetail Media Networks offer a huge opportunity for marketers However each network operates as a closedloop system which makes it really difficult to drive ROI effectively With dozens of retail channels as part of many clients39 investment strategies it has been difficult to compare their relative performance With our Unified Retail Media Platform we have standardized a key part of the processquot said ConybeareAccording to MAGNA39s 2023 report on the matter Retail Media revenues will increase to 121bn in 2023 13YoY representing 20 of total digital advertising revenues across search video and displayFor more information on the Unified Retail Media Solution visit wwwipgmediabrandscomretailmediaClick the social buttons to share this content with your friends and colleaguesThe opinions and points of view expressed in this content are exclusively the views of the author andor subjects and do not necessarily represent the views of MediaVillageorgMyersBizNet Inc management or associated writers

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IPG Mediabrands Launches Unified Retail Media Solution

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IPG Mediabrands Launches Unified Retail Media Solution

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