Retail Media Networks (RMNs) are primed for growth in 2024 and beyond as third-party cookie deprecation (3PCD) comes to fruition, due to the rich first-party datasets retailers possess. Retailers are transforming their online storefronts into ad networks, offering their brand partners unique opportunities to reach hyper-targeted audiences. However, navigating the fragmented RMN technical landscape can be daunting for retailers. There are many ad tech providers, data tools, and reporting platforms. This is where Google Marketing Platform (GMP) and Google Ad Manager (GAM) step in, ready to help retailers set up, transform, and grow their own Retail Media Networks.
Retail Media Networks (RMNs) are ad networks hosted on retailers’ websites. Ads are typically bought by brand partners. RMNs can also include media run off-site by the retailer, on behalf of its brand partners.
Siloed data and media buying can make it increasingly difficult for retailers to understand the effectiveness of their retail media networks. Retailers working to deploy and optimize an RMN face a variety of challenges here, such as data being fragmented across demand- and supply-side platforms, and a lack of native integrations into analytics platforms. This leads to incomplete reporting and lack of insight into key tactics that are driving monetization for the RMN.
GMP’s strength lies in its ability to unify data from multiple platforms: GAM, GA4, Campaign Manager 360, Display & Video 360, and Search Ads 360. Together, GAM and CM360 can aggregate data from a retailer’s site — for example, proprietary audiences, ad formats, and CRM data — for customers to traffic and activate against, via CM360 and DV360. This unified view unlocks a treasure trove of insights: understand which placements best align retailers with their brand partners’ target audiences, measure campaign performance across platforms, and optimize ad spend for maximum ROI.
Google Ad Manager is Google’s ad management platform for media publishers. In the context of RMNs, the “publisher” is the retailer. Pairing GAM with GMP offers several unique advantages compared to “out-of-the-box” RMN providers:
1. Seamless Programmatic and Guaranteed deal sales and trafficking for retailers & advertisers via CM360 & DV360. This can unlock proprietary CM360 & DV360 features such as cross-channel reporting in CM360, frequency management in DV360, advanced attribution and bidding in DV360, and consolidated reporting in CM360.
2. Advanced measurement in GA4 for retailers: unlock monetization and engagement insights around media inventory. Retailers can quickly access up to date reporting and insights in GA4 to understand what is driving monetization and make real time optimization decisions.
3. Audience capabilities available, like LiveRamp, Merkury, and access to free first-party Google audiences (in-market, custom, and more).
4. Creative control and customization through GAM and CM360 allow for clear inventory offerings and serving for both Retailer and media buyer.
5. Robust data integration, bring in offline data seamlessly through Offline Conversion Import via the Campaign Manager Conversion API.
6. Ability for retailers and advertisers to leverage BigQuery ML and Ads Data Hub (ADH) across GAM and GMP for custom media analysis, audience sharing, and closed-loop reporting.
7. GAM and GMP integrations with Google Cloud Platform (GCP) for advanced data warehousing and analytics.
GMP provides comprehensive reporting and analytics across all RMN campaigns. Track key metrics like impressions, clicks, conversions, and return on ad spend (ROAS), all in one centralized dashboard. This level of granularity lets retailers measure partner campaign effectiveness, identify winning monetization strategies, and continuously optimize media for superior results. This in turn can enable further RMN growth for retailers.
The marketing landscape is constantly evolving. With a multitude of RMN technology vying for your attention, getting an effective RMN off the ground can quickly become complex. GAM, together with GMP, acts as your central command center, streamlining campaign creation, budget allocation, and reporting across all your RMN partners. In addition, GMP stays ahead of the curve, integrating seamlessly with the latest advertising technologies and offering cutting-edge solutions like programmatic buying and dynamic creative optimization. Embrace GMP, and embrace the future of retail media advertising.
In today’s omnichannel retail landscape, leveraging Google Marketing Platform to power your Retail Media Networks is no longer a luxury, it’s a strategic imperative. With its unified data, precise targeting, automated bidding, comprehensive analytics, and streamlined workflows, GMP empowers you to unlock the full potential of your RMNs, reach the right shoppers at the right time, and drive measurable results.
Merkle | Cardinal Path (MCP) offers a variety of tech enablement services for GAM and GMP in relation to RMNs and Commerce Media Networks:
To learn more about how Google products can help you build and optimize your own RMN, contact Merkle | Cardinal Path to speak with an expert.
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