Retail media networks (RMNs) could play a significant role in a brand’s all-encompassing advertising strategy in a post-cookie era. What is RMN in advertising?
A retailer’s website, app, email distribution, and off-site advertisements are all examples of integrated media channels that make up an RMN. An RMN’s advantage is that it gives advertisers access to consumers through the sales funnel and up to the point of purchase. RMNs offer more chances for attribution and ROI analysis than cookies because they deliver first-party, purchase-based data.
These goals must be distinctly specified before determining which RMNs best suit a brand’s objectives. The following six RMN characteristics that brands should take into account are based on the overall mission:
Shopper Objectives
Can the network identify targets based on consumer behavior consistent with the campaign’s objectives and brand strategy?
Data Management Skills
All network channels, including owned and controlled, CRM, and offshore, are the RMN’s technical capabilities and procedures integrated? For example, is network-wide exposure controlled to regulate frequency and enhance cross-channel amplification? Is data accessible to optimize ad placement, frequency, and creativity?
Support
Self-service tools that enable advertisers to create their target audiences and do their pre-campaign analytics may fall under this category.
Functional Creativity
Does the RMN allow the brand to use different ad goods, such as rich media and video? Can the brand optimize performance across creative versions?
Measurement
What are the network’s measurement capabilities? The network needs to provide perspectives on incremental sales for the overall campaign and each media outlet. In addition, the measurement views of other sub-campaign components, such as creativity, ad type, and exposure frequency, are ideal.
After-Campaign Monitoring
Leading networks provide post-campaign tracking and sophisticated analytics to examine customer behavior exposed to ads and help the company create continuous relevant communications. As a result, retailers have a unique perspective on what consumers do after seeing a campaign. This can offer priceless knowledge that will guide your whole media strategy.