In a move set to reshape the retail media landscape, global media company IPG Mediabrands has announced the inception of its ‘Unified Retail Media Solution’. This dedicated business unit is designed to allow brands to manage their investment performance across all retail media networks seamlessly and intelligently.
The introduction of this novel business unit underscores IPG Mediabrands’ commitment to bringing transparency and trust into the retail media sphere. The solution is powered by a unique technology platform, focusing on the unified targeting of audiences, performance measurement, optimization, and intelligence gathering.
One of the significant benefits that the ‘Unified Retail Media Solution’ offers brands is a holistic view of their performance. It provides automated cross-retailer activation and optimization, thus maximizing sales and profitability for the brands.
The helm of ‘Unified Retail Media Solution’ is in the capable hands of Glen Conybeare, the Executive Lead and Global President for Reprise Commerce and Retail Media at IPG Mediabrands. The solution has undergone beta testing by IPG Mediabrands clients in the consumer packaged goods (CPG), gaming, and over-the-counter (OTC) sectors. It already boasts hundreds of bespoke audiences, with plans to expand to over 10,000 by year-end.
Conybeare noted the significant potential that retail media networks hold for marketers, but also acknowledged the challenge presented by each network operating as a closed-loop system. He said, “With our Unified Retail Media Platform, we have standardized a key part of the process.”
Eileen Kiernan, Global CEO at IPG Mediabrands, added her insights on the challenges brands face in navigating multiple ‘closed garden’ networks, each with its unique approach to data, metrics, and ROI methods. “This complexity is amplified for brands that also sell their products through these retailers,” she stated.
She emphasized the critical need for brands to leverage data and insights across networks, making intelligent, real-time decisions about what is working and what is not to maximize their investment.
With the launch of its ‘Unified Retail Media Solution’, IPG Mediabrands is positioning itself at the forefront of retail media investment management, providing brands with an innovative and efficient approach to managing their investments.
This news is based on a report from Marketech APAC.