AMENIA, N.Y. – Retailers that sell advertising are proliferating as they seek ways to monetize their customer data by helping marketers to improve their campaign targeting. With an estimated 600 retail media networks to choose from, advertisers and media buyers are confronting a complex marketplace.
“We’ve got to figure out for an agency what makes most sense for your brand,” Mike Evans, senior vice president of demand facilitation at ad-tech company Magnite, said in this interview with Beet.TV contributor Rob Williams at the Beet Retreat Berkshires. “Once you understand endemically what aligns with your brand, you can go a level deeper and start to understand what these folks have to offer in market.”
The category of retail media networks contains specialized subsets with a variety of offerings. Whether it’s a mass merchant such as Walmart or Target, an ecommerce platform such as Amazon or Alibaba, an electronics chain such as Best Buy, a hotel chain such as Marriott, a bank such as Chase or an airline such as United, advertisers have a variety of choices.
Evans recommends that when marketers decide to run ads on of these media networks, they make sure to test their campaigns thoroughly to ensure they can accurately determine its effectiveness.
Amid the growing complexity of the marketplace, Evans sees a role for Magnite in helping advertisers identify the most appropriate strategy for their commerce-media campaigns.
“There’s not enough time in the day to evaluate all these folks so we have to simplify the process, in general,” he said.
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