IPG Mediabrands Launches Unified Retail Media Solution

IPG Mediabrands, the media holding company within the Interpublic Group of Companies announced the launch of its Unified Retail Media Solution, a dedicated business unit that will enable brands to intelligently manage their investment performance seamlessly across all Retail Media Networks, one of the fastest growing advertising channels.

According to the Association of National Advertisers1 2023 study 82% of CMOs find a lack of standardization across [Retail Media] platforms “a challenge” or “a big challenge.” The second most significant challenge, reported by 68% of respondents, was the walled garden approach used by Retailers.

To help 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 tech platform that operates against four key principles:
Unified Audience, Unified Measurement, Unified Optimization and Unified Intelligence, giving brands a clear and holistic view of their performance. Specifically, the platform can decipher which Retailers are performing best and will automate cross-retailer activation and optimization, moving media spend between retailers to maximize sales and profitability. Brands will have the ability to supplement their existing audience data through the Acxiom dataset, and the platform will automatically aggregate data across these multiple networks using IPG’s proprietary AI tools to enable planning planning, insights, activation, and optimization.

Led by Glen Conybeare, CEO, and with over 500 supporting multidisciplinary team members, the Unified Retail Media solution has been beta tested by IPG Mediabrands customers in the CPG, Gaming, and OTC industries and has had hundreds of matches. with a roadmap to reach over 10,000 by the end of the year.

“Brands activating in Retail Media face the challenge of navigating through multiple closed garden networks, each with their own data approach, metrics and ROI methods. This complexity is amplified for brands that also sell their products through these retailers. Therefore, it is crucial for brands seeking to maximize their investment to leverage data and insight across networks with an ability to make intelligent decisions in real time about what’s working and not,”

Eileen Kiernan, Global CEO, IPG Mediabrands.

 

“With this solution from IPG Mediabrands, clients can make optimal decisions both within and across Retail Media Networks based on facts, not hunches. It’s another step forward in IPG’s Total Commerce strategy, along with IPG’s Creative Commerce Labs, helping to ensure brands grow share and do so profitably,”

Jeriad Zoghby, Chief Commerce Strategy Officer at IPG.

 

“Retail Media Networks offer a huge opportunity for marketers. However, each network operates as a closed-loop system which makes it really difficult to drive ROI effectively. With dozens of retail channels as part 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,”

Glen Conybeare, Global President, Reprise Commerce & Retail Media at IPG Mediabrands.

According to MAGNA’s 2023 report on the topic, Retail Media revenue will grow to $121 billion by 2023 (+13% YoY), representing 20% ​​of total digital advertising revenue on search, video and show.