Prosper Model Factory is solving the issue of the growing fragmentation of Retail Media Networks (RMNs) by allowing brands and retailers to easily scale digital advertising and marketing with unique zero-party consumer data.
This is built on one of the largest and longest-running consumer surveys of its kind. Brands can append these consumer insights to their own 1P data to better identify the most likely customers for digital campaigns as well as accurately target competitor customers to grow market share.
Importantly, this gives a complete picture of the market, allowing brands and retailers to target in-store as well as online customers. Nearly 200 retailer & customer models are now available from a single location, the Prosper Model Factory on AWS Marketplace.
Retail Media Networks represent one of the fastest-growing segments of advertising, estimated by eMarketer to grow by 25.8% in 2023 to reach $51.36 billion. However, as more retailers launch their ad networks, greater fragmentation across channels has become a persistent issue for brands looking to scale advertising.
In a November 2022 survey, 28% of marketing executives surveyed said that data transparency and sharing was major challenge in working with RMNs. Meanwhile, 19% said RMNs were difficult to manage, and a further 13% said that there was no consistency across channels.
“Retail Media Networks are walled gardens, giving brands limited access to consumer data,” said Gary Drenik, CEO of Prosper Insights & Analytics. “When you buy an ad from a single retailer, you don’t learn anything about customer behavior or intent, and you certainly aren’t able to scale that across the dozens of Retail Media Networks that have emerged.
In this privacy-compliant era, alternative zero-party data is the way forward for retail and CPG brands looking to take control of their marketing. The Prosper Model Factory provides a one-stop source for detailed shopper data across various channels. Brands can access this data for DTC and enhanced targeting initiatives, integrating this shopper data with their own customer data to gain control of their digital advertising spend.”
Credit:-https://www.einnews.com/pr_news/636678712/prosper-model-factory-expands-propensity-models-to-solve-scalability-in-fragmented-retail-media-network-landscape