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Retail media networks (RMNs) are an exciting innovation within the advertising industry. A retail media network refers to an advertising platform that a retailer owns, providing marketers with the opportunity to buy advertising space on the retailer’s digital platforms as well as extend their reach offsite with key platforms the retailer has partnered with to open up their media buying to advertisers. The retailer uses first-party data and customer insights to create new advertising opportunities and connect with shoppers throughout their buying journey.
In this article, we’ll discuss the significant advances in retail media trends and technology — and their implications for the future of advertising.
Benefits of retail media for advertisers
Every online impression counts in the digital era, making retail media especially advantageous for advertisers. It yields new opportunities for advertisers to thrive, which we’ll discuss below.
Get access to first-party data
First-party data is a valuable asset for advertisers. Retail media networks offer advertisers direct access to customer insights from the retailer’s data vault, which helps them create highly personalized ad campaigns and connect with current and potential customers.
Custom marketing options for each brand
Retail media provides brands with various marketing options, from product listings to onsite display advertising. These options allow advertisers to customize their approach, deliver tailored messages to their target audience, and meet consumers where they are.
Reach new customers
Retail media networks empower advertisers to connect with new and existing customers using retailers’ extensive digital presence. These networks extend beyond a retailer’s own website and allow brands to tap into a broader audience base; major RMNs often have a significant offsite presence and provide advertisers with opportunities to reach consumers across various digital touchpoints and platforms beyond the retailer’s controlled environment. This reach enhances brand visibility, engages diverse audiences, and contributes to the growth of customer acquisition.
Closer proximity to purchase decisions
Another benefit of retail media is its ability to position brands closer to the point of purchase in the customer journey. Targeted, data-driven advertising strategically placed across various touchpoints enables retailers to influence consumers when they are already lower in the purchase funnel. This proximity increases the likelihood of faster purchase decisions, especially when complemented by strategies such as timely offers and retargeting, expediting the decision-making and conversion processes.
Consumers prefer personalized advertising
Research has shown that approximately 50% of consumers will spend more money with companies that personalize their e-commerce retail experience. Ads relevant to a consumer’s interests and aligned with their behaviors make shoppers more likely to engage with a brand and find it easier and more convenient. As retailers honor consumer preferences for personalized advertising, they’ll find it easier to align with consumer preferences and provide an improved shopping experience.
Retail media network use case: Experian’s impactful marketing attribution with a discount store giant
Experian’s past collaboration with a discount store giant involved implementing a comprehensive marketing attribution strategy. The primary goal was to effectively demonstrate brand campaign performance and optimize ad spend within the retail media network. We built a full-stack attribution solution that connected their offline and online data, and our approach was as follows:
- We started by collecting exposure data from all touchpoints, such as the website, app, and offsite display and social, to turn anonymous exposures into identified individuals and households.
- Additionally, we gathered debit and credit card transaction data from in-store and online points of sale to better understand purchase behavior. We also unveiled new demographic insights for the retailer.
- To streamline the decision-making process, we provided an easy-to-read reporting tool that showcased vital performance metrics.
Takeaways from the collaboration emphasized the importance of:
- Understanding the audience seeing the ads and those making purchases.
- Analyzing incremental lift and identifying insights or trends.
- Sharing these valuable insights across the organization and with advertisers to inform future campaigns and brand positioning.
Utilizing recent trends in the retail media landscape
This case study serves as a prime example of how recent retail media trends are shaping a data-centric, integrated, and insights-driven future for advertising in retail. Our marketing attribution strategy aligns with the industry’s shift toward data-driven decision-making in RMNs.
Today, retailers are adopting full-stack attribution solutions like ours, enabling them to connect offline and online data to understand customer interactions better. This reflects the trend of looking for a holistic view of customer journeys and highlights the importance of integrating diverse data sources to understand consumers comprehensively.
Moreover, our strategy to transform anonymous exposures into identified individuals, integrate transaction data, unveil new demographic insights, and provide an easy-to-read reporting tool mirrors the trends of enhanced personalization, merging online and offline data, and simplifying analytics within RMNs.
Using new retail media
Our introduction of a user-friendly reporting tool highlights the potential of new retail media to change how advertisers analyze data and gain actionable insights. It emphasizes the value of advanced tools in optimizing ad campaigns, measuring performance metrics, and informing future strategies. New technology will continue to drive effective marketing attribution and shape the future of retail advertising.
Kroger Precision Marketing’s newly announced platform
Kroger Precision Marketing (KPM) represents another excellent retail media use case. The retail media arm of the popular supermarket chain is looking to the future with the launch of its advertising platform. KPM is committed to innovation, and this move underscores its desire to be at the forefront of the retail media landscape. Let’s take a closer look at some of the essential features of this new platform.
In-house
KPM recently announced the launch of an in-house advertising platform — a significant shift from their previous practices, where they relied on external tools and systems for their retail media services. By bringing the ad technology in-house, KPM has greater control, flexibility, and the ability to align its platform precisely with its retail media goals. This decision enhances Kroger’s self-sufficiency and enables quicker adaptation to evolving market demands.
KPM’s new in-house platform was officially rolled out on October 13, 2023, and is redefining how advertisers interact with Kroger’s expansive base of consumers.
Easier for media buyers
KPM’s in-house platform is also focused on providing better tools for media buyers. The platform is designed to offer advanced automation and optimization capabilities that will make campaigns more efficient and data-driven. By using this platform, media buyers can easily reach the right audience, customize their messages, and fine-tune their campaigns — all in one place.
Integrated platform
KPM’s new platform will integrate with existing ad campaigns and eventually encompass all their retail media options. This interoperability makes migrating ongoing campaigns easy and minimizes disruptions to advertising efforts. In the long run, the platform will serve as the foundation for all KPM’s retail media services. Advertisers will have a one-stop solution for on-site and off-site media channels to ensure consistency and efficiency in retail media strategies.
KPM’s emerging retail media solutions demonstrate a commitment to advertisers and their changing needs in a shifting digital era.
Home Depot retail media
Home Depot, a well-known player in the home improvement retail industry, has made great strides in retail media. With an impressive annual customer transaction count of 1.7 billion and 3.6 billion visits to homedepot.com, their Retail Media+ platform provides advertisers with unparalleled visibility, reaching 198 million individual customers across 2,322 stores, according to their site. The benefits of Retail Media+ also include 24/7 self-service access to advertising portals, real-time reporting for campaign optimization, and dedicated support.
What Home Depot’s Retail Media+ does right
Home Depot’s Retail Media+ has set itself apart through strategic initiatives that prioritize enhancements to the shopper experience. Here’s a closer look at what makes Home Depot’s approach to RMN noteworthy:
- Seamless integration: Retail Media+ seamlessly integrates into the customer’s journey without disrupting their experience. The platform allows the delivery of targeted ads across various Home Depot-owned spaces, including the website, app, in-store, email, and offsite channels like social and video.
- Supplier-centric ad inventory: Home Depot allocates the majority of its RMN ad inventory to suppliers. This ensures the ads presented to customers align closely with the products available at Home Depot for a natural connection between onsite and in-store experiences.
- Customer-centric approach: Melanie Babcock, Vice President of Retail Media+ and Monetization at The Home Depot, emphasizes maintaining a customer-centric perspective. The goal is not merely to monetize the website but to enhance the customer journey by incorporating suppliers into the process. This approach contributes to a more personalized and relevant shopping experience.
- Exploration of offsite opportunities: Home Depot is actively exploring opportunities to expand its RM+ platform beyond onsite channels. Initiatives include piloting in-store video screens and venturing into connected TV (CTV). By considering the entire customer journey, Home Depot aims to provide value to suppliers while gaining deeper insights into customer behavior.
- Strategic use of data science: With the help of data scientists, Home Depot ensures personalized precision in its advertising efforts. This aligns with the shopper’s preferences and needs and makes the ads more relevant and engaging.
- Ongoing adaptation and expansion: Home Depot’s proactive stance is evident in its continuous efforts to adapt and expand its RMN initiatives. The exploration of offsite channels, partnerships with platforms like Roku and Disney Advertising, and the piloting of in-store video screens showcase a commitment to staying at the forefront of evolving digital retail trends.
Home Depot’s success with their RMN stems from its commitment to creating a symbiotic relationship between customers, suppliers, and the retail brand. Home Depot has set a benchmark for RMNs by aligning advertising efforts with the customer’s journey and embracing technological advancements.
Amazon retail media
Amazon Advertising, the retail media division of Amazon, has become another dominant force in the industry. Let’s take a quick look at what they’ve done well and what they could improve.
Scale of Amazon’s retail media
In 2022, eMarketer estimated that Amazon commanded a 76.9% share of retail digital media spend, blowing its competitors out of the water. Walmart, the second-largest player, trailed far behind with a 6.1% share. This underscores Amazon’s unparalleled influence and market presence in the digital advertising landscape and solidifies its position as the go-to platform for advertisers looking to reach a massive audience.
What works for Amazon
Amazon has an unmatched advantage when it comes to personalizing ads and delivering relevant content to consumers. With over 200 million Prime members in the U.S. alone, Amazon has access to vast amounts of valuable data that spans shopping habits, preferences, and more. This data is invaluable for advertisers looking to target their audiences with precision, and it gives Amazon a significant edge in the market.
What needs to change
Although Amazon continues to thrive, there’s always room for improvement. For instance, to attract brand dollars, traditional retailers are starting to concentrate on channels where Amazon has less historical dominance, such as in-store experiences and email marketing. Understanding this potential, Amazon has been experimenting with email tools to enhance merchant-audience connections and widen its reach. As ad sales’ profitability becomes more significant, incorporating these offerings into Amazon’s retail media strategy could further strengthen its market position.
Walmart retail media
Walmart has been working hard to become a more dominant retail media force. Walmart Connect, the retailer’s retail media network, has done an excellent job bridging the gap between online and in-store activities. It provides a unique closed-loop system that connects online and in-store activity on an unprecedented scale. This mechanism offers advertisers a comprehensive view of Walmart customers’ behavior, giving them valuable insights and measurable business results. With this closed-loop approach, advertisers can access a holistic view of customer activity and achieve successful marketing campaigns.
How Walmart ties together online and in-store activities
Walmart’s massive brick-and-mortar presence and its comprehensive online platform provide a complete view of customer behavior and preferences. This synergy between the digital and physical is a compelling selling point for advertisers that gives them a holistic view of consumer interactions. Walmart’s connected shopping experience integrates both online and in-store activities, allowing advertisers to engage with customers from the research stage to the online or in-store purchase stage of the buying journey.
New features and technology Walmart’s retail media platform is trying
As part of their innovative initiatives, Walmart Connect introduced the “Holiday Hub,” recognizing Walmart as America’s go-to holiday shopping destination. Advertisers can use this hub to gain key customer insights and implement product best practices to ensure a meaningful omnichannel connection during the holiday season.
In terms of new features and technology, Walmart Connect provides various advertising options to help brands stand out from the crowd:
- The Search feature ensures visibility when customers actively search for products, with ads appearing prominently in search results and on browse pages.
- Display ads, strategically placed on Walmart.com, the Walmart app, and across the web, aim to make a premium impression on customers based on their omnichannel Walmart history.
- For in-store influence, Walmart Connect offers opportunities to inspire shoppers through digital TV and point-of-purchase screens across 4,700+ Walmart stores.
- Walmart’s closed-loop measurement uniquely enables advertisers to correlate online ads with purchases, providing unparalleled scale and accuracy in measuring campaign impact.
Whether for a small business or a global brand, Walmart Connect offers solutions to help marketers discover new and effective ways to connect with their target audience.
The future of RMNs
The future of retail media networks (RMNs) is bright and holds exciting possibilities. These five key dynamics will likely drive retail media evolution:
Smaller retailers getting into the RMN game
With each passing day, more small brands are becoming active with RMNs. This trend is highly beneficial, bringing diversity, competition, expanded reach, and collaborative potential to the landscape. The future of RMNs is expected to be shaped by a mix of established and emerging brands. This will create an inclusive environment for advertisers and consumers alike.
Potential for cross-platform campaigns
Cross-platform campaigns in RMNs allow advertisers to create a cohesive, impactful, and data-driven advertising approach across different retail media networks. This shift in campaign strategy aligns with the dynamic nature of consumer interactions in the digital landscape, as it provides a comprehensive solution for brands that seek to enhance their presence and influence across diverse channels.
Targeted vs. personalized ads
Personalized ads are becoming a notable trend in RMNs and replacing targeted ads. This means RMNs now provide consumers with more relevant and tailored content based on their interests and preferences. The shift is driven by the increasing demand for personalization and the need to improve the consumer shopping experience. RMN advertisers must take advantage of these personalized ad opportunities to create stronger brand awareness.
Conversions vs. brand awareness
Advertisers often struggle when deciding whether to focus more on conversions or brand awareness. For a well-rounded strategy, RMN advertisers should craft campaigns that balance these two goals. Using the data and insights from RMNs, advertisers can personalize their messaging to drive sales and build and reinforce brand recognition. This approach can help RMN advertisers make brand awareness a central component of their advertising efforts.
Third-party data integration to enhance data and audiences
As RMNs evolve, data expansion is essential for targeted, personalized, and contextually relevant advertising experiences and will help drive the future success of retail media. Advertisers using third-party data, in particular, can unlock new dimensions in audience targeting to create more tailored and impactful campaigns. Third-party data allows for a broader understanding of customer behaviors and preferences and facilitates relevant content delivery.
Data insights for more connected, tailored advertising
Moving forward, it will also be important for advertisers to achieve a consistent view across online, app, and in-store activities. They need to understand where customers prefer to be reached and where they are most likely to engage so they can ensure a strategic alignment of messaging and optimize the effectiveness of their retail media strategies. The future of RMNs lies in using comprehensive data insights for more connected and personalized advertising.
What about AI? Where is it useful?
In the retail media context, AI (Artificial Intelligence) enhances advertisers’ capabilities by providing valuable insights and automation to drive more effective and personalized ad campaigns. AI helps analyze vast amounts of data, predict consumer behavior, and empower advertisers with the tools to optimize their strategies. Ultimately, it helps them deliver more tailored, relevant content to consumers that best aligns with their interests and preferences.
Humans still needed to drive change
While AI is a critical technology in retail media, it doesn’t replace the need for human expertise. People are still essential for driving change, making strategic decisions, and ensuring AI-driven solutions align with business objectives. Moving forward, advertisers will need to utilize both AI-driven capabilities and human expertise to see the greatest success.
A connected customer identity is the key to success
The future of advertising lies in the seamless integration of customer identity across various touchpoints. Experian’s cutting-edge solutions are leading the way in this transformation. We can help businesses navigate this dynamic environment with helpful tools that unlock a comprehensive view of audiences and facilitate effective campaigns across multiple channels.
Partner with Experian to achieve retail media success
Experian’s comprehensive data and identity solutions can help RMNs maximize their opportunity, with our new solution tailored to enhance RMNs’ strength in first-party shopper data. Experian’s solution helps RMNs unlock expanded customer insights, enriched audiences for activation, identity resolution for cross-channel audience targeting, and real-time measurement and attribution. This comprehensive solution is designed to help RMNs capture more advertising revenue. Our goal is to ensure you capture the most advertising dollars and make your RMN operate at its peak performance.
Our Consumer Sync solutions can connect customers across multiple touchpoints and channels, specifically bridging the gap between online and in-store to ensure a holistic view and strategy for audiences, campaigns, and performance. With access to over 2,500 frequently updated data points, we have the depth and breadth of data needed to supplement your audience strategy. We’ll help you unlock a broad view of your audiences to see well-rounded profiles, gain the reach required to access your audience across multiple channels, and turn opportunities into revenue. Additionally, our Consumer View solutions can help deepen your understanding of your customers, their behaviors, and campaign success.
Connect with a member of our team today to get started.
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Originally appeared on MarTech Series Marketing’s understanding of identity has evolved rapidly over the past decade, much like the shifting media landscape itself. From the early days of basic direct mail targeting to today's complex omnichannel environment, identity has become both more powerful and more fragmented. Each era has brought new tools, challenges, and opportunities, shaping how brands interact with their customers. We’ve moved from traditional media like mail, newspapers, and linear/network TV, to cable TV, the internet, mobile devices, and apps. Now, multiple streaming platforms dominate, creating a far more complex media landscape. As a result, understanding the customer journey and reaching consumers across these various touchpoints has become increasingly difficult. Managing frequency and ensuring effective communication across channels is now more challenging than ever. This development has led to a fragmented view of the consumer, making it harder for marketers to ensure that they are reaching the right audience at the right time while also avoiding oversaturation. Marketers must now navigate a fragmented customer journey across multiple channels, each with its own identity signals, to stitch together a cohesive view of the customer. Let’s break down this evolution, era by era, to understand how identity has progressed—and where it’s headed. 2010-2015: The rise of digital identity – Cookies and MAIDs Between 2010 and 2015, the digital era fundamentally changed how marketers approached identity. Mobile usage surged during this time, and programmatic advertising emerged as the dominant method for reaching consumers across the internet. The introduction of cookies and mobile advertising IDs (MAIDs) became the foundation for tracking users across the web and mobile apps. With these identifiers, marketers gained new capabilities to deliver targeted, personalized messages and drive efficiency through programmatic advertising. This era gave birth to powerful tools for targeting. Marketers could now follow users’ digital footprints, regardless of whether they were browsing on desktop or mobile. This leap in precision allowed brands to optimize spend and performance at scale, but it came with its limitations. Identity was still tied to specific browsers or devices, leaving gaps when users switched platforms. The fragmentation across different devices and the reliance on cookies and MAIDs meant that a seamless, unified view of the customer was still out of reach. 2015-2020: The age of walled gardens From 2015 to 2020, the identity landscape grew more complex with the rise of walled gardens. Platforms like Facebook, Google, and Amazon created closed ecosystems of first-party data, offering rich, self-declared insights about consumers. These platforms built massive advertising businesses on the strength of their user data, giving marketers unprecedented targeting precision within their environments. However, the rise of walled gardens also marked the start of new challenges. While these platforms provided detailed identity solutions within their walls, they didn’t communicate with one another. Marketers could target users with pinpoint accuracy inside Facebook or Google, but they couldn’t connect those identities across different ecosystems. This siloed approach to identity left marketers with an incomplete picture of the customer journey, and brands struggled to piece together a cohesive understanding of their audience across platforms. The promise of detailed targeting was tempered by the fragmentation of the landscape. Marketers were dealing with disparate identity solutions, making it difficult to track users as they moved between these closed environments and the open web. 2020-2025: The multi-ID landscape – CTV, retail media, signal loss, and privacy By 2020, the identity landscape had splintered further, with the rise of connected TV (CTV) and retail media adding even more complexity to the mix. Consumers now engaged with brands across an increasing number of channels—CTV, mobile, desktop, and even in-store—and each of these channels had its own identifiers and systems for tracking. Simultaneously, privacy regulations are tightening the rules around data collection and usage. This, coupled with the planned deprecation of third-party cookies and MAIDs has thrown marketers into a state of flux. The tools they had relied on for years were disappearing, and new solutions had yet to fully emerge. The multi-ID landscape was born, where brands had to navigate multiple identity systems across different platforms, devices, and environments. Retail media networks became another significant player in the identity game. As large retailers like Amazon and Walmart built their own advertising ecosystems, they added yet another layer of first-party data to the mix. While these platforms offer robust insights into consumer behavior, they also operate within their own walled gardens, further fragmenting the identity landscape. With cookies and MAIDs being phased out, the industry began to experiment with alternatives like first-party data, contextual targeting, and new universal identity solutions. The challenge and opportunity for marketers lies in unifying these fragmented identity signals to create a consistent and actionable view of the customer. 2025: The omnichannel imperative Looking ahead to 2025 and beyond, the identity landscape will continue to evolve, but the focus remains the same: activating and measuring across an increasingly fragmented and complex media environment. Consumers now expect seamless, personalized experiences across every channel—from CTV to digital to mobile—and marketers need to keep up. The future of identity lies in interoperability, scale, and availability. Marketers need solutions that can connect the dots across different platforms and devices, allowing them to follow their customers through every stage of the journey. Identity must be actionable in real-time, allowing for personalization and relevance across every touchpoint, so that media can be measurable and attributable. Brands that succeed in 2025 and beyond will be those that invest in scalable, omnichannel identity solutions. They’ll need to embrace privacy-friendly approaches like first-party data, while also ensuring their systems can adapt to an ever-changing landscape. Adapting to the future of identity The evolution of identity has been marked by increasing complexity, but also by growing opportunity. As marketers adapt to a world without third-party cookies and MAIDs, the need for unified identity solutions has never been more urgent. Brands that can navigate the multi-ID landscape will unlock new levels of efficiency and personalization, while those that fail to adapt risk falling behind. The path forward is clear: invest in identity solutions that bridge the gaps between devices, platforms, and channels, providing a full view of the customer. The future of marketing belongs to those who can manage identity in a fragmented world—and those who can’t will struggle to stay relevant. 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Consumers engage with content and advertisements across various devices and platforms, making an identity framework essential for establishing effective connections. An identity framework allows businesses to identify consumers across multiple touchpoints, including the relationships among households, individuals, and their devices. Combined with a robust data framework, businesses can understand the relationship between households, individuals, and marketing attributes. Consequently, businesses can tailor and deliver personalized experiences based on individual preferences, ensuring seamless consumer interactions across their devices. We spoke with industry leaders from Audigent, Choreograph, Goodway Group, MiQ, Snowflake, and others to gather insights on how innovations in data and identity are creating stronger consumer connections. Here are five key considerations for advertisers. 1. Embrace a multi-ID strategy Relying on a single identity solution limits reach and adaptability. Recent data shows that both marketers and agencies are adopting multiple identity solutions. By embracing a multi-ID strategy with solutions like Unified I.D. 2.0 (UID2) and ID5, brands can build a resilient audience targeting and measurement foundation, ensuring campaigns remain effective as identity options evolve across channels. A diversified identity approach ensures that advertisers are not left vulnerable to shifts in technology or policy. By utilizing multiple ID solutions, brands can maintain consistent reach and engagement across various platforms and devices, maximizing their campaign effectiveness. "I don't think it will ever be about finding that one winner…it's going to be about finding the strengths and weaknesses and what solutions drive the best results for us."Stephani Estes, GroupM 2. Utilize AI and machine learning to enhance identity graphs Identity graphs help marketers understand the connections between households, individuals, their identifiers, and devices. This understanding of customer identity ensures accurate targeting and measurement over time. AI and machine learning have become essential in making accurate inferences from less precise signals. These technologies strengthen the accuracy of probabilistic matches, allowing brands to understand consumer behavior more effectively even when data fidelity is lower. Adopting a signal-agnostic approach and utilizing various ID providers enhances the ability to view consumers' movements across platforms. This strategy moves measurement beyond isolated channels, providing a holistic understanding of campaign effectiveness and how different formats contribute to overall performance. By integrating AI and machine learning into identity graphs, advertisers can develop more cohesive and effective marketing strategies that guide customers seamlessly through their buying journey. "What we're finding is more and more identity providers are using Gen AI to locate connections of devices to an individual or household that maybe an identity graph would not identify."David Wells, Snowflake 3. Balance privacy with precision using AI AI-driven probabilistic targeting and identity mapping provide effective solutions for privacy-focused advertising. Rather than relying on extensive personal data like cookies, AI can use limited, non-specific information to predict audience preferences accurately. This approach allows advertisers to reach their target audience while respecting privacy—a crucial balance as the industry shifts away from traditional tracking methods. According to eMarketer, generative AI can further enhance audience segmentation through clustering algorithms and natural language processing. These tools enable more granular, privacy-compliant targeting, offering advertisers a pathway to reach audiences effectively without needing third-party cookies. "I think the biggest opportunity for machine learning and AI is increasing the strength and accuracy of probabilistic matches. This allows us to preserve privacy by building models based on the features and patterns of the consumers we do know, instead of transmitting data across the ecosystem."Brian DeCicco, Choreograph 4. Activate real-time data for better engagement Real-time data enrichment introduces dynamic audience insights into the bidding process, enabling advertisers to respond instantly to user actions and preferences. This agility empowers marketers to craft more relevant and impactful moments within each campaign. "Real-time data enrichment–where data companies can have a real-time conversation with the bid stream–is an exciting part of the future, and I believe it will open the door to activating a wide variety of data sets."Drew Stein, Audigent 5. Create and deploy dynamic personas using AI Generative AI transforms persona-building by providing advertisers with richer audience profiles for more precise targeting. This approach moves beyond traditional demographic categories, allowing for messaging that connects more meaningfully with each consumer. By using generative AI to craft detailed personas, advertisers can move beyond generic messaging to create content that truly resonates on an individual level. This personalized approach captures attention and strengthens consumer relationships by addressing their specific needs and interests. "One cool thing we've built recently is a Gen AI-based personas product that generates personas to create highly sophisticated targeting tactics for campaigns."Georgiana Haig, MiQ Seize the future of data-driven engagement Focusing on these five key innovations in data and identity allows you to adapt to the evolving media landscape and deliver personalized experiences to your audience. 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Originally appeared on Total Retail Retail media networks (RMNs) continue to demonstrate how they can be a powerful monetization driver for retailers, creating a win-win-win for everyone involved. Retailers can monetize their valuable first-party data as well as their online and in-store inventory, while customers benefit from timely, relevant content that enhances their shopping experience. At the same time, advertisers can reach highly targeted audiences at critical moments near the point of purchase Achieving this type of success requires overcoming challenges around fragmented and incomplete first-party data, which can limit a retailer's ability to organize and use their data effectively. Additionally, many RMNs lack the analytical capacity to generate customer insights, build addressable audiences, and accurately measure success. To realize the full potential of their platforms, RMNs need partners that provide complementary data, strong identity solutions, and the expertise to transform insights into actionable strategies. This allows RMNs to drive winning outcomes for themselves, marketers, and their customers. Here are the five steps an RMN should consider when selecting the right partner. 1. Build an identity foundation First, the right partner needs to be able to organize and clean customer data. Given the millions of customer records and data points that a retailer has, RMNs need to make sure their data is highly usable. Whether it is a known customer record or an unknown customer with incomplete data, partners should fill in missing information and connect fragmented customer records to a single profile. For example, RMNs need to know that a purchase made in-store is by the same customer who bought online. The best partners will then organize those profiles into households since targeting (and purchasing) is often done at the household level. Without a strong identity foundation future steps of segmentation, insights, audience creation, and activation will not be successful. Experian identity Experian's identity solutions provide RMNs with a comprehensive and accurate view of their customers across both offline and digital environments. We clean an RMN's first-party data and organize their customer records into households since targeting is often done at the household level and purchases are made at the household level. Using Experian's Offline and Digital Graphs we work with the RMN to fill in the missing information they have on their customers (e.g. name, address, phone number or digital IDs like hashed emails, mobile ad IDs, CTV IDs, Universal IDs like UID2 or ID5 IDs). This ensures that the retailers' entire customer base can be reached – and measured – across devices and channels. 2. Segment your customers An RMN’s ability to segment its customer base and derive insights depends on the availability and usability of their data assets – not to mention some serious analytical chops. Some RMNs will split their customers into different product segments based on what’s relevant to an advertiser. For example, a home improvement retailer may segment customers by who is buying DIY supplies versus improvement services. Other RMNs may develop custom segments from their customer data and third-party data sources, so that advertisers can personalize their marketing based on life stage, age, income level, geography, and other factors. Either approach is effective but requires working with a partner who has high quality data and deep analytical expertise to develop those segments. Segment with Experian Experian Marketing Data helps an RMN learn about their customer beyond their first-party data. With access to 5,000 marketing attributes, RMNs can fill in the holes in their understanding of a customer. We provide them with demographic, geographic, finance, home purchase, interests and behaviors, lifestyle, auto data and more. RMNs can use this enriched data set to create addressable audience segments. 3. Generate actionable insights about these segments Once the RMN determines how they will segment their customers, they can utilize demographic, attitudinal, interest, and behavioral data from a trusted partner to develop a customer profile that compares its customers against a relevant sample of consumers. Here, the RMN will gain insight that will help them answer questions about its customers. Examples include: What age and income groups are more likely to purchase my product? What is the current life stage of my customers – do they have children, are they married, are they empty-nesters? Is price or quality more important to customers in their decision-making process? What sort of activities do my customers enjoy? How frequently do my customers shop for similar merchandise? What media channels do my customers use to get their information? Expanded insights with Experian With Experian’s advanced customer profiling, RMNs can go beyond basic customer segmentation. We build detailed customer profiles by utilizing accurate, attribute-rich consumer data, so RMNs can gain a more comprehensive understanding of their customer’s preferences, life stages, and purchasing behaviors. Having this insight enables the RMN to: Design a targeted email campaign promoting home essentials to recently married new homeowners. Develop a social media post announcing the opening of a new hardware store to users within a specific location interested in do-it-yourself products. Create brochures and flyers at a local community event tailored towards parents with small children that promote equipment for youth sports leagues. 4. Create high quality lookalike audiences The RMN now knows what distinguishes their customers from other consumers and can create audiences that enable advertisers to run personalized marketing campaigns at scale. RMNs can do this in several different ways: Work with a data provider who can create custom audiences for the RMN (e.g., Ages 40-49 and Leisure Travelers and past purchase of travel item) These custom audiences are created by joining multiple first- and third-party data attributes found to be significant in the customer profile or using machine learning techniques to develop a custom audience unique to the advertiser. Custom audiences with Experian With an enriched understanding of their customers, RMNs can create addressable custom audience segments, including lookalike audiences, for advertisers. 5. Expand addressability of audiences and activate on multiple destinations Once audiences are created, RMNs will want to increase a marketer’s reach across on-site and off-site channels. With the right identity graph partner, an RMN can add digital identifiers to customer records that enable activation across media channels, including programmatic display, connected television (CTV), or social. RMNs should work with identity providers that are not reliant on third-party cookies. They should select partners that offer more stable digital IDs in their graph like mobile ad IDs (MAIDs), hashed emails (HEMs), CTV IDs, and universal IDs like Unified I.D. 2.0 (UID2). Experian powers data-driven advertising through connectivity Using Experian's Digital Graph, RMNs expand the addressability of their audiences by assigning digital identifiers to customer records. Marketers will be able to reach an RMNs customers onsite as well as offsite since Experian provides several addressable IDs. Audiences can be activated across an RMNs owned and operated platform as well as extended programmatically to TV and the open web through Experian's integrations across the ecosystem. Maximize your RMN’s revenue potential with Experian Organizing customer data, segmenting customers, generating insights, creating addressable audiences, and activating campaigns are all critical steps for an RMN to realize that revenue potential. RMNs should select a partner that provides the data, identity, and analytical resources to create the winning formula for marketers, customers, and retailers. Experian’s data and identity solutions are designed to help RMNs maximize their revenue potential. Reach out to our team to discover how we can support your path to RMN success. Connect with us Latest posts