What Search Marketers Need to Know About Criteo’s Retail Media Platform

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If you’ve been within the paid search trade for a couple of years, then you definately’ve most likely heard about Criteo – and even used it.

You may also be conversant in Criteo Retail Media from again within the days when it might be described as an advert community for sponsored merchandise, circa 2016 when Criteo acquired an organization referred to as Hooklogic.

Hooklogic had constructed a enterprise by aggregating stock throughout many retailers and enabling manufacturers to bid on that stock on a CPC foundation.

In addition, you may additionally know that Criteo acquired an organization referred to as Storetail in 2018, to assist retailers supply new inventive codecs and concentrating on choices.

But what you might need missed is the announcement of Criteo’s new Retail Media platform.

For now, I’m going to stick to this sponsored merchandise piece and the platform that powers it, as that represents an simply attainable motion merchandise going into not solely vacation, however 2021 planning.

So, let’s dive into what the Retail Media platform does for sponsored merchandise.

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This expertise allows retailers to serve adverts that mix into the present web site construction, feel and look. It permits the retailer to “sell” placements in search outcomes, browse pages, and wherever else they really feel a sponsored product placement will align with person expectations.

So retailers can give attention to being retailers, not an advert administration platform or software program builders, enabling them to get to market sooner with promoting choices, with out absorbing the prices of proudly owning, sustaining, and constructing out an promoting expertise stack.

Which is, in the event you cease to give it some thought, a particularly giant and costly set of duties to get accomplished proper.

criteo-sponsored-products

The different factor that this format does is present manufacturers with an always-on choice for promoting with that retailer.

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Traditional retailer promoting may be very closely administrative-based, even with online-only show flights, with insertion orders, giant budgets or minimums, weeks of planning round inventive belongings and assessment, lockout durations, and post-campaign reporting, that may’t occur till the total attribution interval has handed.

While these bigger show buys can get you attributed in-store carry, basket evaluation, and model halo results – it will probably take eight weeks post-campaign finish to get it.

Criteo now works with retailers in North America to present enterprise-level self-service promoting instruments to manufacturers, together with Target, Best Buy, Costco, Meijer, Macy’s, Kohl’s, Walgreen’s, CVS, and Ulta.

What’s superior with the Retail Media platform is that the advertiser can select for his or her adverts to seem on a single retailer, or to run a marketing campaign with a number of retailers and nonetheless break down reporting on the particular person retailer stage.

Brands can use funds caps to allocate funds to completely different retailers on the ranges wanted, or leverage AI to allocate funds dynamically to obtain the most effective return on advert spend.

Some retailers, like Target, already used Criteo for an unique atmosphere they name “Private Market” by which the adverts are proven solely on the right track.com.

Being in a position to goal solely Target (pun meant) is absolutely useful to manufacturers who need to push extra gross sales particularly at goal.com and even leverage product reputation to a necessity for extra bodily shelf house, assortment growth and likewise for these Target Plus sellers within the market that want to promote their merchandise and should not have in-store presence.

How It Works

Sponsored merchandise through Criteo is a CPC mannequin and a first-price public sale.

It’s not keyword-based. The focus is extra on the person SKUs.

All SKUs have key phrases already related to them, thanks to data from retailer product feeds, information collected from retailer websites, and Criteo’s AI.

Brands should not have to then dedicate assets to creating creatives.

Bids may be set on the line merchandise stage and on the SKU stage. The idea of a line merchandise is definitely new within the Retail Media platform.

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In the previous, you had to sub-divide campaigns utilizing “product groups” to group SKUs.

Now, you create line gadgets, and every serves as a tactic to gas the technique of your bigger marketing campaign. You affiliate a retailer with every line merchandise.

This permits you to have management over the place your funds goes, in addition to see retailer-level reporting.

criteo line item

In addition, the SKU-level bidding function allows you to now handle CPC bids on particular person merchandise.

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By adjusting a product’s bid, you’ll be able to modify the product’s competitiveness within the public sale.

Through the in-line modifying software, you’ll be able to enter and save a brand new CPC worth for every product within the Product Bid Override discipline. The worth entered wants to both be equal to or larger than the minimal ground bid.

Another distinction within the new platform is that these flooring at the moment are set by the retailer, to allow them to range fairly a bit inside classes. Previously minimal bids have been set by Criteo for his or her run of community campaigns.

Once entered, the product will use the brand new CPC worth for bidding. Products that don’t have a Product Bid Override worth specified will routinely use the road merchandise bid.

criteo products view

With this new marketing campaign construction, there’s much more flexibility in group. For instance, you’ll be able to have a marketing campaign with one line merchandise for one retailer.

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You can even have a marketing campaign with 10-line gadgets, every with a unique retailer. Or you’ll be able to have 100 SKUs on a line merchandise.

Each line merchandise has a begin date and an elective finish date. (Start and finish dates will not be at marketing campaign stage.)

You can select to set a funds for the road merchandise, in addition to use every day or month-to-month pacing instruments. Or, you’ll be able to select not to set a line merchandise funds, and depend on the funds set on the marketing campaign stage.

Your selection.

criteo budget view

While every day and month-to-month funds pacing was moved from the marketing campaign stage to the road merchandise stage within the new platform, attribution is now on the marketing campaign stage quite than the account stage.

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In addition, Criteo is now offering a number of extra attribution choices. Previously, you possibly can solely do 30-day post-click and 1-day post-view. Options now embody Post-Click: seven days/14 days/30 days and Post-Viewed: None/at some point/seven days/14 days/30 days.

Brands can now align with the attribution home windows they’re utilizing with different platforms in the event that they so select.

Reporting

As talked about, manufacturers can now view retailer-level reporting. In addition, Criteo is normalizing metrics throughout retailers, making it straightforward for you to examine efficiency throughout retailers.

The new platform additionally contains information visualization, so now you can slice and cube with customizable studies with the metrics you need.

You can obtain studies straight from the UI, or schedule studies through e mail.

criteo reporting

How to Get Started

Technically, there aren’t any spend minimums to achieve entry to the Retail Media platform.

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However, pricing on the platform varies relying upon spend commitments and in the event you select to leverage Criteo’s managed service group for administration help.

With the launch of this new platform, Criteo has additionally advanced its pricing mannequin to supply full transparency to manufacturers, businesses, and retailers.

The new pricing mannequin aligns with media and price pricing that’s utilized by different media shopping for instruments and creates extra transparency and suppleness to pay for what you utilize.

I extremely suggest trying out the “Consumer Product Brands: It’s Time to Take Control of Your Retail Media Destiny” report performed by Forrester, commissioned by Criteo. The full report is offered for obtain and covers the panorama of retail media as it’s at this time. And you’ll be able to take a look at the place you sit towards the respondents and their maturity into retail media as part of their course of and optimization.

It will value you an e mail to get it, however I assumed it value it. And if not, there’s loads of different materials within the Resources part. From there, you’ll be able to contact Criteo to get began.

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More Resources:


Image Credits

All screenshots taken by writer, December 2020



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