NEW YORK–(BUSINESS WIRE)–July 18, 2023–
IPG Mediabrands, the media holding company of the Interpublic Group of Companies (NYSE: IPG), today announced the launch of its Unified Retail Media Solution, a dedicated business unit that will enable brands to intelligently manage their seamless return on investment across all retail media networks. one of the fastest growing advertising channels.
According to the Association of National Advertisers 1 The 2023 study 82% of CMOs find a lack of standardization [Retail Media] “a challenge” or “a big challenge” platforms. The second biggest challenge, reported by 68% of respondents, was the walled garden approach used by retailers.
Helping 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 technology platform that works on four key principles: Unified Audience, Unified Measurement, Unified Optimization and Unified Intelligence, giving brands a clear, holistic view of their performance. Specifically, the platform can decipher which retailers are performing better and will automate cross-retailer activation and optimization, moving media spend across retailers to maximize sales and profitability. Brands will have the option to augment their existing audience data using Acxiom datasets, and the platform will automatically aggregate this data across networks using IPG’s proprietary AI tools to enable planning, insights , activation and optimization.
Led by Glen Conybeare, CEO, and supported by over 500 multi-disciplinary team members, the unified retail media solution has been beta-tested by IPG Mediabrands customers in the CPG, Gaming and OTC sectors , and already has hundreds of customized audiences. with a roadmap to reach more than 10,000 by the end of the year.
“Brands that are active in Retail Media face the challenge of navigating multiple closed garden networks, each with their own approach to data, metrics and ROI methods. This complexity is amplified for brands that also sell their products through these retailers, so it is crucial for brands looking to maximize their investment to leverage data and information across networks with the ability to make smart, real-time decisions about what works and what doesn’t,” said Eileen Kiernan, Global CEO of IPG Mediabrands.
“With this solution from IPG Mediabrands, clients can make optimal decisions both within and across Retail Media Networks based on facts, not intuition. It is another step in IPG’s Total Commerce strategy, along with IPG’s Creative Commerce Labs, which help ensure brands grow share and do so profitably,” added Jeriad Zoghby, Director of Commerce Strategy at IPG.
“Retail media networks offer a huge opportunity for marketers. However, each network operates as a closed-loop system, making it really difficult to drive ROI effectively. With dozens of retail channels as part of of many clients’ 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 process,” said Conybeare.
According to MAGNA’s 2023 report on the matter, Retail Media revenue will grow to $121 billion in 2023 (+13% YoY) accounting for 20% of total digital advertising revenue through search, the video and screen.
To learn more about the Unified Retail Media Solution, visit https://www.ipgmediabrands.com/retail-media
About IPG Mediabrands
IPG Mediabrands is the media and marketing solutions division of Interpublic Group (NYSE: IPG). IPG Mediabrands manages more than $47 billion in marketing investment globally on behalf of its clients through its full-service agency networks UM, Initiative and Mediahub and through its award-winning specialty business units Healix, Kinesso, MAGNA, Matterkind, Mediabrands Content Studio, Orion Holdings. , Rapport, Reprise and the IPG Media Lab. IPG Mediabrands’ clients include many of the world’s most recognized and iconic brands from a broad portfolio of industry sectors including automotive, personal finance, consumer goods (CPG), pharma, health and wellness, entertainment, financial services, energy, toys and games. direct to consumer and e-commerce, retail, hospitality, food and beverage, fashion and beauty. The company employs more than 18,000 marketing communications professionals in more than 130 countries. More information at www.ipgmediabrands.com
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SOURCE: IPG Mediabrands
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PUB: 18/07/2023 11:30/DISC: 18/07/2023 11:29
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