{"id":6071,"date":"2024-01-05T16:38:58","date_gmt":"2024-01-05T16:38:58","guid":{"rendered":"https:\/\/tup.kxe.temporary.site\/2024-predictions-retail-media-networks\/"},"modified":"2024-01-05T16:38:58","modified_gmt":"2024-01-05T16:38:58","slug":"2024-predictions-retail-media-networks","status":"publish","type":"post","link":"https:\/\/okdesign.ca\/fr\/2024-predictions-retail-media-networks\/","title":{"rendered":"2024 Predictions: Retail media networks"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>In recent years, many retailers have built out retail media networks (RMNs) to attract advertisers and improve customer experience with favorite brands and products. Access to the wealth of first-party data that many retailers have is hard for advertisers to pass up. But RMNs need to mature.\u00a0<\/p>\n<p>This maturation took some big steps last year and will continue in 2024 as advertisers will test and integrate RMNs into their media strategy. Here are the directions that RMNs will take in the coming year.<\/p>\n<p><!-- \/1038259\/MT_Post-text --><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-standardization-as-rmn-matures\">Standardization as RMN matures<\/h2>\n<p>Last year, <a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/iab-releases-new-guidelines-as-retail-media-networks-mature\/\" target=\"_blank\">IAB rolled out RMN guidelines<\/a> for public comment to generate substantive talks about how to compare apples to apples between networks. That requires a more comprehensive understanding of what advertisers get out of the exchange. Greater standardization of metrics will likely spur more ad spending on RMNS.<\/p>\n<p>Half of CMOs said \u201crationalizing retail media with other media investments\u201d is one of their biggest challenges with retail media, according to Forrester\u2019s Q3 2023 B2C Marketing CMO Pulse Survey.<\/p>\n<p>As standardization spreads, advertisers will be able to compare performance between different RMNs and compare the effectiveness of RMN campaigns with other marketing channels.<\/p>\n<h2 class=\"wp-block-heading\" id=\"h-more-rmn-use-cases-to-choose-from\">More RMN use cases to choose from<\/h2>\n<p>Advertisers will continue to experiment with RMN use cases. Forrester categorized RMNs as an \u201cemerging\u201d technology, signaling that growth, as well as growing pains, are to be expected.<\/p>\n<p>Forrester identified four core use cases: first-party audience targeting; onsite activation; offsite activation; and near-real-time reporting. Standardization and growing acceptance of RMNs will increase their core use while opening the door to a bigger menu of extended uses.<\/p>\n<p>Here are some of the extended use cases Forrester identified for RMN advertisers:<\/p>\n<ul>\n<li>Data clean room environments for data collaborations<\/li>\n<li>Multitouch attribution<\/li>\n<li>Forecasting and scenario planning<\/li>\n<li>Incrementality measurement<\/li>\n<li>Creative asset management that consolidates assets, workflows and teams<\/li>\n<\/ul>\n<div class=\"wp-block-group alignfull is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group__inner-container\">\n<div class=\"wp-block-media-text alignfull is-stacked-on-mobile is-vertically-aligned-center\">\n<figure class=\"wp-block-media-text__media\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"450\" alt=\"2024 Car Sal Survey V1 800x450 Edited\" class=\"wp-image-388684 size-full\" srcset=\"https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited.jpg.webp 800w,https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited-600x338.jpg.webp 600w,https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited-200x113.jpg.webp 200w,https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited-768x432.jpg.webp 768w\" data-lazy-sizes=\"(max-width: 800px) 100vw, 800px\" src=\"https:\/\/i0.wp.com\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited.jpg.webp?resize=800%2C450&#038;ssl=1\"\/><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/i0.wp.com\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited.jpg.webp?resize=800%2C450&#038;ssl=1\" alt=\"2024 Car Sal Survey V1 800x450 Edited\" class=\"wp-image-388684 size-full\" srcset=\"https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited.jpg.webp 800w,https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited-600x338.jpg.webp 600w,https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited-200x113.jpg.webp 200w,https:\/\/martech.org\/wp-content\/uploads\/2023\/12\/2024-car-sal-survey-v1-800x450_edited-768x432.jpg.webp 768w\" sizes=\"(max-width: 800px) 100vw, 800px\"\/><\/figure>\n<div class=\"wp-block-media-text__content\">\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<h3 class=\"wp-block-heading has-text-align-center has-text-color\" id=\"h-take-martech-s-2024-salary-and-career-survey\" style=\"color:#000000\">Take Martech\u2019s 2024 Salary and Career Survey<\/h3>\n<p>From AI to layoffs, it\u2019s been quite a year. We\u2019d like to know how it\u2019s been for you. Please take this short survey so we can have your input on the state of martech salaries and careers.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"wp-block-heading\" id=\"h-offsite-rmn-channels-will-step-in-as-cookies-crumble\">Offsite RMN channels will step in as cookies crumble<\/h2>\n<p>The continued phasing out of third-party cookies will make retailers\u2019 first-party data even more valuable to advertisers. Expect to see growing interest in using this data for offsite campaigns, including CTV.<\/p>\n<p><strong><em>Dig deeper: <\/em><\/strong><a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/2024-predictions-data-and-ai-on-marketers-minds\/\" target=\"_blank\"><strong><em>2024 Predictions: Data and AI on marketers\u2019 minds<\/em><\/strong><\/a><\/p>\n<p>\u201cRetail media will continue its strong growth, as retailers continue to leverage their first-party data to build out ad networks and\/or data businesses, both of which provide high-margin revenue,\u201d said Frost Prioleau, CEO of <a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/simpli-fi-introduces-ctv-reach-for-linear-tv-advertisers\/\" target=\"_blank\">programmatic advertising company Simpli.fi<\/a>. \u201cMuch of the growth in 2024 will be driven by the \u2018offsite\u2019 advertising, where the retailers\u2019 data is being used to target ads on the open web and\/or CTV devices.\u201d<\/p>\n<p>\u201cThroughout 2023, agencies and brands increasingly viewed retail media as a potent closed-loop marketing investment, directly linking ads to sales,\u201d said Sherry Smith, executive managing director, Americas, at commerce media platform Criteo. \u201cThis next year will be equally as transformative, especially for retailers and other companies focusing on their first-party data advantage, as Google is set to phase out third-party cookies by the end of next year. Retail media will emerge as the cornerstone of effective omnichannel advertising, reshaping the narrative of commerce media as the trusted frontier for brands.\u201d<\/p>\n<p>While offsite media expands the reach and application of RMNs, this doesn\u2019t mean that advertisers will abandon in-store opportunities.<\/p>\n<p>\u201cRetail media proved it\u2019s an ecommerce force to be reckoned with in 2023, and we expect meteoric growth heading into 2024,\u201d said Smith. \u201cThis will include additional investment for in-store retail media \u2014 where retailers will bridge the omnichannel gap between online and in-store experiences to influence shoppers at every touchpoint of their journey.\u201d<\/p>\n<p>Retailers looking for a competitive edge will improve in-store experience, making ads more relevant for in-person shoppers. For instance, The Home Depot, a medium-sized RMN, <a rel=\"nofollow noopener\" href=\"https:\/\/martech.org\/how-home-depot-and-kroger-use-rmn-to-improve-shoppers-ad-experience\/\" target=\"_blank\">is piloting video screens in some locations<\/a>.<\/p>\n<p>\u201cExpect retailers to get smarter with their in-store screens, and expect brands to start to bring their CTV campaigns out of the home, onto mobile and into retail and other out-of-home locations in 2024,\u201d said Cathy Oh, head of marketing, Samsung Electronics America.<\/p>\n<p>Oh explained: \u201cAs CTV ad capabilities continue to improve and evolve, digital screens get more dynamic, and retail media ecosystems explode, it will be critical for advertisers to shift their ad campaigns beyond the living room. Targeted multi-screen experiences will be key in 2024 to reaching consumers with messages that move with the medium.\u201d<\/p>\n<p><!-- START INLINE FORM --><\/p>\n<div class=\"nl-inline-form border py-2 px-1 my-2\">\n<div class=\"row align-items-center justify-content-center nl-inline-container\">\n<div class=\"col-12 col-lg-3 col-xl-auto pb-2 pb-lg-0\">\n<p class=\"inline-form-text text-center mb-0\">Get MarTech! Daily. Free. In your inbox.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p><!-- END INLINE FORM -->\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/martech.org\/2024-predictions-retail-media-networks\/\">Source link <\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>In recent years, many retailers have built out retail media networks (RMNs) to attract advertisers and improve customer experience with favorite brands and products. Access to the wealth of first-party data that many retailers have is hard for advertisers to pass up. But RMNs need to mature.\u00a0 This maturation took some big steps last year [&hellip;]<\/p>","protected":false},"author":3,"featured_media":5992,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-6071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-agency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>2024 Predictions: Retail media networks - OK Design<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/okdesign.ca\/fr\/2024-predictions-retail-media-networks\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2024 Predictions: Retail media networks\" \/>\n<meta property=\"og:description\" content=\"In recent years, many retailers have built out retail media networks (RMNs) to attract advertisers and improve customer experience with favorite brands and products. 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