Experian Launches New Solution for Retail Media Networks

Experian has introduced a new solution to enhance the effectiveness of retail media networks (RMNs). This solution focuses on improving customer identification within RMNs, enabling advertisers to target their audience better and measure the impact of their campaigns. It also helps uncover audience behavior patterns to optimize campaign performance.

The Growing Importance of Retail Media Networks

Retail media networks have seen significant growth, with a 16.3% increase in the U.S. last year. This surge is mainly due to advertisers leveraging retailers’ deep connections with shoppers. Experian’s data-driven approach provides identity resolution in a privacy-compliant manner, crucial for delivering relevant messages to customers within RMNs. This, in turn, makes these networks more attractive to advertisers and boosts ad revenue for retailers.

As RMNs expand, primarily through owned channels like websites, apps, and in-store opportunities, as well as “offsite” connections through CTV and third-party sites, identity resolution becomes increasingly vital.

Experian’s RMN Solution

The solution introduced by Experian includes five key offerings:

• Identity Resolution: Utilizing the Experian Graph, which covers 126 million households and 250 million individuals, to enhance customer understanding based on first-party data.
• Expanded Insights: Generating detailed customer profile reports to identify high-value customers and create accurate look-alike audiences for campaigns.
• Audience Creation: Enriching first-party data with Experian Marketing Data or through Experian’s Partner Audiences network.
• Maximizing Reach and Distribution: Expanding campaigns beyond owned channels by leveraging Experian’s ad-tech partners, including programmatic, CTV, and social media platforms.
• Measurement: Connecting ad exposures in one channel to purchases and other actions online or in-store to measure campaign effectiveness.

Advertiser Benefits

With increasing pressure on advertisers to justify media investments, especially as reliable performance data becomes more challenging, identity solutions like Experian’s are becoming essential. These solutions not only help in tying conversions to ads but also provide valuable customer insights. However, advertisers must balance the use of identity resolution for behavioral targeting with privacy considerations.

RMNs as a Viable Alternative

Experian’s entry into the retail media network market underscores the growing viability of RMNs as an alternative to relying solely on significant platforms for performance marketing. As advertisers seek transparent, privacy-compliant solutions that align with customer expectations and data regulations, RMNs present a compelling option.

In this evolving landscape, measuring and optimizing ad performance is critical for RMNs to demonstrate their value to marketers while maintaining a strong focus on privacy and compliance.