A bespoke solution can embed team members within the retailer’s organization to train staff on their unique RMN setup and prepare them for a successful in-housing transition. Many retailers want to take on the operation of their RMN on their own, but don’t have the right staff to upskill or scale their teams quickly enough to take advantage of the market. They provide flexibility in ways of working, supporting a retailer’s desire to outsource or in-house.The roadmap can be tied to a retailer’s specific requirements instead of forcing evolution to follow a set schedule. They foster innovative execution roadmaps that blend best-in-class practices with unique retailer needs.This allows for flexibility in engagements between retailers and platforms and can eliminate the issue of losing control of key elements like vendor relationships, first-party data, and reporting capabilities. They are platform and technology agnostic, working with retailers to find the right platform for their revenue and technology goals if and when it’s needed.Every aspect of the solution is tailored to the individual client’s needs, working through a consultant’s lens to build an RMN that serves the client based on where they are in their journey and scales with them based on their growth goals and their organization’s commitment and investment.īespoke solutions offer several benefits over out of the box platforms: Other options, such as dentsu Retail Media, including Merkle’s New Stream Media, take an alternative approach by offering a bespoke solution. The RMN solutions available in market skew heavily toward out of the box platforms, which, while convenient, don’t always address the unique challenges facing each individual retailer. This creates virtuous cycles as profit from retail media can be reinvested into the enterprise business to build enhanced experiences for consumers, suppliers and to the retailer’s business overall.Ĭlient-centered customized RMN solutions accommodate the varying needs of retailers At dentsu, we believe in creating more strategic organizational integrations of retail media networks and brand/enterprise marketing functions. With these complexities in what is, for many brands, still a nascent space, there is immense value in partnering with an agency that can provide the strategic solutions guidance across a variety of technology and platform providers and, if needed, hands-on keyboard activation, all in a customizable way, based on the retailers’ goals for growth. Even after a retailer establishes its RMN, new hurdles arise in scaling the offering and keeping up with the pace of the competition. Retailers cited “finding the right partner,” “internal organization design,” and “sales of the data or media solution” among their top barriers to getting started with a monetization program. At the same time, retailers face significant challenges in their attempts to create or grow their RMN operations. When asked what they look for in a potential RMN partner, the CPGs surveyed named a variety of attributes, from innovation in ad solutions to transparency with reporting. Needs across CPGs and retailers vary substantiallyĬPGs have unique wants and needs when it comes to finding an ideal RMN. Retailers are also increasingly interested, recognizing the value of monetizing their site space and first-party data. This expansion is fueled by growing demand from CPGs our research in 2020 showed that 52% of brands planned to move more marketing dollars to retail media networks this year. What was once a small space, consisting of just a handful of key players, now includes grocers, big box stores, specialty retailers, and more. Over the past few years, retail media networks (RMNs) have emerged as a way for retailers and CPGs to forge a mutually beneficial relationship while improving the shopper experience.
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