There is a lot of buzz about Retail Media Networks, so what does that mean for brands and solution providers?  As more and more retail media networks launch, understanding the role brands and solutions providers play in the mix and how to navigate the ecosystem is increasingly important. 

Retail media networks partner with brands to provide access to first-party data and ultimately their customers through owned assets, such as online and digital channels. Brands can connect with shoppers through retailer websites, loyalty cards, and advertising. Retailers essentially sell advertising on their owned assets (website, apps and digital assets). 

Retailers are provided with a source of revenue through the networks that enables them to reach their customers to increase sales. Personalized messaging and offers can enhance the experience for shoppers and increase customer engagement and conversion rates. Retailers also have a consistent shopper base that brands can connect with to drive sales in store and across their owned and operated digital channels. 

The Role for Brands and Solutions Providers

Brands benefit from participating in retail media networks by gaining access to the retailers’ first-party data. This enables them to better connect with customers through segmentation and personalization, and to be able to directly measure sales from participation. One key challenge for brands is how to allocate their budget within the various networks and solution providers. 

Solution providers have played various and robust roles in the retail media network ecosystem. Some offer complementary services and solutions to retail media networks. Other solution providers are aggregate media networks able to assist brands with buying media across the inventory of networks. While others have assisted retailers in building out their networks. Still other solution providers offer supporting services and solutions.  

Complementary Solutions Balance the Mix

When brands work with solutions providers it complements not replaces the retail media networks. This can happen through a variety of tactics depending on the strategy. For example, Prodege’s shopper network is retailer agnostic with an ability to run advertising, promotions, and offers offline and online nationally across all retailers. This makes it an easy choice for brands who want to drive sales through incentivized offers, media placements, or promotions. Brands are also able to measure results directly from their actions. Prodege has the ability to drive shoppers to retailers outside of the owned and operated stores and retail media networks. Prodege has an 80% net new audience, compared to similar solutions providers, with millions of monthly active users across the entire path to purchase. This enables brands to reach a highly-engaged audience, at scale, that they would not have access to otherwise. 

As an example, Prodege was able to drive sales in store among current, lapsed and competitive lapsed shoppers for an “iconic” candy brand in select retailer channels. The results over delivered on units moved, impressions and clicks, exceeding the client’s expectations. 

Prodege also offers a low barrier to entry with their solutions, providing reporting capabilities, to directly measure sales and data insights capture without having to meet spending thresholds to unlock.

The Value of Solution Providers

So what does this mean for brands that are struggling to find their balance in a constantly shifting and complex retail media landscape?  When brands partner with a solution provider, it can offset your workload to alleviate the pressure of trying to do it all.  

Finding a solutions provider that will offer white glove service to oversee offer construct and campaign management needs while monitoring the campaign for effectiveness is ideal. The right partner will provide turnkey solutions to balance out the mix while providing the tools and data for easy decision making for brands.

Solution providers, such as Prodege, can help to expand the brand’s reach beyond the retailer’s customer base in order to meet KPI and ROAS goals. Having a partner, such as Prodege to help to understand the consumer through unbiased first party data and insights is critical. In an ever changing retail landscape, having a great partner that aids in short and long term planning or with test and learning capabilities along the path to purchase will help drive success.  

Prodege can assist brands with their marketing campaigns and promotions to drive in store and online sales. We’d love to partner with you! 

Blog Author

Molly Torres

See more from the author

Recent Press Releases

Merchant Beware: Will inflation be this year’s Ebenezer Scrooge?

Latest survey by Prodege gives merchants tips on how to survive this holiday shopping season EL [...]

Prodege Names Jeff Carberry as Chief Financial Officer

Joe Picciano Appointed Chief Operating Officer EL SEGUNDO, Calif., Sept. 15, 2022 (GLOBE NEWSWIR [...]

Prodege Recognized for Excellent Employee Culture and Innovation

September 07, 2022 Company named one of the “Best Places to Work 2022” by the Los Angeles B [...]