As the Internet’s and technology’s commerce capabilities have grown, so has the gap between retailers’ and brand advertisers’ operations.

Brands have become increasingly isolated from audiences as they turn to retail media networks rather than their own channels. And while the retailers operating these networks enjoy a wealth of consumer data, the lack of access to brands has often led to monetization struggles.

“We’ve been through the different waves of advertising, and the patterns are about the same,” said Parsons. “You have a lot of retailers that are feeling their way to the right monetization approach — what’s right for their audience and brands. With that, we’re also helping them package and sell those offerings and deliver them.”

To address these hurdles, Criteo built a demand side platform solution called Commerce Max, enabling brands to better connect with retail media networks and their onsite and offsite customers. The solution also offers a much-needed buying platform for retail networks to monetize their platforms more effectively.

To further unpack the necessity of bridging the gap between brands and retail media, Criteo’s Chief Product Officer, Todd Parsons, recently spoke with Ari Paparo, founder and CEO of Marketecture Media, about how DSPs connect these groups to enhance the digital commerce experience.

DSPs are connecting retailers’ first-party data with brands to improve monetization

Data activation is one of the most pressing issues for both retailers and brands. Many brands lack access to offsite, third-party data due to digital limitations, while retailers continue to search for ways to share their first-party data with other networks without compromising their users’ privacy.

“The challenge is that data sensitivity is now a key point,” Parsons said. “Because so much of retailers’ first-party data is involved, the idea that retailers will work together to share that data is still far from workable.”

“Our response to that is, ‘Let’s work together to see if we can build some marketplace rules that allow you to make the most of brand dollars,’” he added.

DSP solutions like Commerce Max enable retailers to work with other networks and brands, making the most of their first-party data and enhancing monetization efforts. This collaboration gives brands much-needed data from retail customers, helping them make appropriate advertising choices when evaluating retail media networks.

“At the end of the day, retailers want to control their monetization completely, and we want to give them that capability,” Parsons said. “We also want to give brands the capability to look across retailers and offsite data and pull that together.”

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Source:: Digiday

Author: Aaron