In this article…
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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A few weeks ago, Experian and OpenX hosted a supply-side think tank at our New York City office. Over 70 industry leaders met to talk about targeting in a cookieless future and how we can reach consumers in intentional ways. Publishers and supply-side partners shared what challenges they face, what solutions they’re considering, and what the future holds once the third-party cookie begins to deprecate in 2024. In this blog post, we’ll cover the top challenges, cookieless solutions, and actionable strategies we discussed at the event that can help publishers, their partners, and agencies make informed decisions about how to navigate tomorrow’s digital ecosystem. Four main challenges Four main challenges were discussed at the event: First-party data monetization Publishers possess a wealth of first-party data, but collecting and centralizing this information can be difficult for actionable insights. Streamlining data centralization and organizing first-party data is crucial for effective decision-making. Even with a wealth of first-party data, it's important to be aware of any blind spots in your data and enrich those gaps with data partners rooted in offline connections. “We appreciate the opportunity to participate in the supply-side think tank led by OpenX and Experian, two industry leaders in navigating a cookieless future. We're excited to collaborate with them on testing privacy sandbox APIs, identity resolution products, and audience development tools to enhance creator monetization and support an open internet amidst rapid technological and regulatory shifts.” Patrick McCann, SVP, Research, Raptive Lack of authenticated data and persistent IDs The deprecation of third-party cookies means there will be a shortage of authenticated user data and persistent identifiers. Without this information, targeting and personalization become more challenging. Participants discussed the need to find alternative ways to gather and use personal data responsibly. It’s time to start evaluating data partners who have accurate, multi-source compiled, privacy-compliant data with the dedication to reach and recency. Fragmentation and scale with alternative IDs currently in the market The multitude of alternative identifiers in the market poses a challenge for publishers. Each of these identifiers comes with its own set of rules and integration processes, leading to fragmentation and complexity. Publishers must find ways to navigate this landscape. Look to ID agnostic partners who provide a way to access multiple IDs at scale. “The industry needs a more streamlined standard to integrate alternative IDs, given the ongoing challenges of third-party cookie deprecation, measurement, and clean rooms. This burden falls heavily on product and engineering teams, who must prioritize and address these issues one at a time.” Ryan Boh, Head of Identity, Lockr Time Cookie deprecation is almost here. It is crucial to organize your legal, engineering, and product resources, and align internal go-to-market strategies. Establish partnerships that work with your team to follow these timelines and help build phased or cohesive strategies to prepare for a path to monetization. It is imperative to establish a sense of urgency and not wait for others to take the lead. Start testing now to determine if your infrastructure is ready and capable. Many partners who attended the think tank offered insights on how they’ve been tackling challenges to help their industry peers. Solutions and action plans for a cookieless future Participants discussed ways they are starting to prepare for a cookieless future and other approaches on their roadmaps: Work with data partners heavily rooted in offline data across the ecosystem Enriching your first-party data with partners who rely on offline IDs can help bridge gaps in your audience knowledge. This approach allows you to build a more complete audience profile while third-party cookies are still operational. Experian is rooted in deterministic offline data and has decades of experience managing it safely. We have insights on over 250 million U.S. consumers and 126 million U.S. households. With our digital technology assets, we bring in 4 billion devices and 1 trillion device signals to definitively connect offline records to online identifiers. With Experian identity widespread adoption throughout the industry, we're able to provide a common language for us all to collaborate. Experian identity organizes people into households, links their digital devices and IDs to them, enriches their identity with behavioral attributes, and then makes this data actionable in any environment, all while maintaining consumer privacy and data regulations. “Experian’s supply-side think tank provided a platform for publishers and AdTech companies to discuss the challenges posed by cookie deprecation, privacy regulation updates, and identity restrictions. It highlighted the need for AdTech companies to assist publishers in addressing anonymous users without requiring a value exchange — fostering a mutually beneficial and privacy-compliant open web solution.”Anthony Caccioppoli, Head of AdTech & Solutions, Insider Develop your own persistent ID Creating and maintaining a proprietary persistent ID can be a valuable cookieless solution. It provides control and independence in the new environment post cookie, giving publishers the ability to maintain a consistent user profile. Use your data to expand contextual targeting opportunities Contextual targeting involves placing ads based on the content of the web page rather than user data. In the absence of cookies, this strategy can prove effective in reaching relevant audiences. “The masking or deprecation of IP addresses will eventually impact the availability of addressable IDs in non-authenticated web environments. In addition to ensuring maximum resiliency of our Graph and increasing support for authentication-based IDs, we are also investing in research and development around the use of other signals, such as contextual data, to maintain behavioral targeting inside non-authenticated environments. We will be sharing our findings and future plans in this space in the coming months.”Budi Tanzi, VP, Product, Experian Facilitate a knowledge exchange Reach out to your network to find out what others are testing and what’s working. Start collaborating with agencies and brands across the buy-side to meet their needs. “The collaborative spirit displayed by our partners constantly inspires me. Listening to the obstacles our industry faces allows this community to build strong relationships, create action plans, and deliver true value.”Carly Allcorn, Account Executive, Publisher & Supply-Side Partnerships, Experian Invest in an identity graph Invest in an identity graph provider to sync first-party cookies and addressable IDs. This ensures that your data remains accessible and actionable in a cookieless world. “Many participants at our think tank with Experian expressed the need to find an identity solution while also exploring other ways they can start to address cookie deprecation while maintaining business as usual.” Callie Askenas, Director of Publisher Development, OpenX How Experian and OpenX can help Graph from Experian captures all available digital identifiers in real-time and resolves them back to individuals and households. We’re signal agnostic, continuously expand the IDs we support, and futureproof identity resolution through a combination of deterministic, probabilistic, and cookieless identifiers. Experian is a key player in OpenX’s OpenAudience solution and helps to power many of their data segments as well as their identity graph. While OpenX collaborates with a variety of providers and operates a fully interoperable platform, Experian remains valuable to the core technology within OpenX’s supply-side platform (SSP). Experian can help you prepare for the cookieless future It’s clear that the cookieless future poses some unique challenges for publishers, but there are solutions. Publishers and their supply-side partners can come up with strategies to target consumers in intentional ways by continually testing multiple identifiers and cookieless solutions, developing their own persistent ID, creating velvet rope content, and returning to contextual targeting. Collectively, these actionable strategies can help ensure that publishers have a more successful transition into a cookieless future. Experian has been preparing for signal loss for quite some time and we continue to make substantial investments to ensure our resiliency and the resiliency of our customers. We continue to diversify our signal creating profiles with more persistent identifiers which allows us to pair authentication-based universal identifiers such as UID2 into our Graph seamlessly. Experian is ready and we are here to navigate the future of privacy together. To find out more about how Experian can help you prepare for the cookieless future, get in touch with a member of our team today. Get ready for the cookieless future with Experian Latest posts
Cookies are leaving us, but that doesn’t have to mean performance has to. That’s why Experian is taking the steps needed to future-proof identity in our Graph, including adding Unified ID 2.0 (UID2) from The Trade Desk. Experian currently supports UID2 in our Graph outputs for demand-side platforms (DSPs). UID2 support in our Graph outputs will be available to all approved partners by December 2023. In this blog post, we talk about why cookieless IDs, like UID2, that are coming to market because of cookie deprecation, are important, and how incorporating cookieless IDs into an identity graph can help you prepare for a cookieless future. What are cookieless IDs? Like cookies, cookieless IDs provide you with a comprehensive view of a consumer’s digital activity. Unlike cookies, identity providers produce cookieless IDs, using user-consented data and deterministic and probabilistic data signals (like hashed emails or mobile ad IDs). Cookieless IDs are a newer identifier that allows the advertising industry to maintain our understanding of consumers’ digital actions, helping to ensure we continue to generate smart, data-driven insights, targets, activation strategies, personalized experiences, and measurement and attribution. Why should you incorporate cookieless IDs into an identity graph? Adding cookieless IDs to an identity graph allows for licensees of the graph to: Resolve the universal ID to a consolidated consumer profile and know which other digital IDs tie to the cookieless ID Establish a unified view of the consumer with a privacy-compliant ID Produce data-driven and informed advertising strategies that still drive results, without the use of cookies Experian’s Graph Experian’s Graph is one of the most robust and signal agnostic identity graphs in the market. Experian’s Graph supports most digital IDs, including cookieless IDs, such as ID5, UID2, and Hadron ID. When you license Experian’s Graph, you increase your ability to better understand the different digital IDs that tie to a household or individual. Additionally, with our cookieless ID support, you can continue to understand your consumer and their digital IDs in the cookieless world. Why is it crucial to include UID2 support in Experian's Graph outputs? The Trade Desk is the largest, independent demand-side platform. They’ve created a cookieless ID, UID2, that they hope can power the advertising world to come across the open web. UID2 is an alternative solution to third-party cookies that when utilized in an identity graph, can offer a clearer picture of your consumer, enabling frequency controls and better management, across both digital and connected TV (CTV). Approved DSPs can add UID2s to their Experian Graph, giving them access to one of the more trusted and prominent cookieless IDs in the market today. Additionally, DSPs can use this identifier to decide whether to bid on certain inventory or not, on behalf of their advertiser partner. And, if we hedge our bets, it will only grow in prominence and use. While only available to approved DSPs today for use in the Experian Graph, the forthcoming encrypted UID2 token will provide this capability to the entire ecosystem, which allows us all to speak the same language and operate as efficiently as possible. "We are excited to support UID2, one of the premier IDs to support the future of addressability across the open internet, in the Experian Graph. We continue to see the adoption of UID2 across the demand-side ecosystem, increasing addressability across growing channels like CTV and beyond. I am personally excited to see how this momentum continues to increase over the remainder of 2023 and into 2024."chris feo, svp, sales & partnerships, experian Future-proof your identity strategy with Experian Graph and UID2 We’ve seen the impact that cookies have had on digital advertising and marketing. With the impending third-party cookie deprecation, you will need to adopt alternative cookieless ID solutions such as Unified ID 2.0. Experian is well-positioned to help you navigate this change, offering UID2 support in our Graph outputs for all approved partners by December 2023. Take the right steps now to future-proof your identity strategy and discover lasting success even without cookies. Alongside Experian’s Graph solution, you can achieve resilience in an ever-changing world of digital marketing and advertising. Now is the time to get ready for a cookieless future. Connect with an Experian team member to learn more about our Graph capabilities today. Learn more about Experian's Graph today Latest posts
In this article…How data collaboration is evolving from 2023 to 2024How to create efficient data collaboration strategies We live in a data-driven world, and businesses need effective data collaboration strategies to remain successful. Before you determine your 2023 and 2024 data collaboration options, it’s essential to understand what data collaboration is. In short, it involves sharing and combining data from multiple sources to better understand a customer base and make informed marketing decisions. Read on to learn more about our three-step plan to create new data collaboration strategies, how it’s evolving, and what we do to ensure our solutions help maintain your company’s data privacy. How data collaboration is evolving from 2023 to 2024 Data collaboration strategies continually evolve thanks to changing industry dynamics and new technologies. As we move from 2023 to 2024, we’ll likely see collaboration extending outside businesses, meaning data can be shared with external partnerships in the form of a data ecosystem. A data ecosystem is a platform that combines numerous information points, including packages, algorithms, and cloud-computing services, to allow businesses to store, analyze, and use the data they’ve collected. To ensure you’re ready for 2024 data collaboration, you’ll need to take a forward-thinking approach toward new data strategies. How to create efficient data collaboration strategies Here are our three steps for efficient collaboration to make the most of 2023 data collaboration and prepare for 2024. Identify your collaboration goal What are you hoping to gain from data collaboration? Do you understand the audience you’re trying to target and what you want regarding outcomes? To measure your success, you should set short- and long-term goals surrounding data collaboration in 2023 and 2024. Maximize the value of your data One of the most important reasons to gather data is to discover in-depth insights into your audience and the effectiveness of your marketing efforts. You’ll be able to identify hidden patterns and pinpoint trends you may not have noticed before. With this information, you can make more strategic marketing decisions to stay competitive in your industry. Resolve digital identities Collaborating on data with trusted partners can help you gain a more complete view of your customers by building comprehensive digital profiles. Resolving digital identities can provide greater insight into online and offline behavior of individual consumers, allowing you to better connect with your target audience and boost brand loyalty. Find an alternative to third-party cookies Digital privacy regulations are getting more strict, which is why it’s so important to find more secure alternatives to third-party cookies. By collaborating on data, you can gather essential insights without relying on cookies. This means you’ll still get the information you want while complying with privacy regulations. Choose the right collaboration partner Before you choose a data collaboration partner, it’s essential to ensure their privacy standards align with yours. How do they collect data and use it ethically and responsibly? At Experian, we are dedicated to protecting consumers and delivering responsible and transparent data practices. We focus on five Global Data Principles — security, accuracy, fairness, transparency, and inclusion — to ensure we treat data carefully and respectfully while boosting economic growth and resilience in the marketing environment. When you partner with us for data collaboration, you can trust that your data is protected in a system built for 2023 data collaboration needs — both known and unknown — while still evolving for 2024 and beyond. Choose a secure environment for collaboration Data collaboration security is vital to safeguard your business and consumers’ information. You can make sure your new data collaboration options are protected in several ways. We’ve outlined three options below. Collaboration in clean rooms Clean rooms are secure, private environments where data is shared and analyzed without exposing the underlying raw data. This ensures that sensitive information remains protected and insights are discovered securely. Experian has vetted clean room partners if this is an option you prefer while still getting industry-leading identity resolution. Collaboration directly Collaborating directly with your partner can be a good option if you have robust security measures. Encryption, access controls, and regular audits are essential to maintain data security in direct collaborations. Collaboration with Experian We excel at meeting our clients where they are and accommodating their technical capabilities and how they manage their data. We offer a secure and compliant environment for data collaboration. Our data collaboration solutions are designed to protect your data while enabling deeper insights. At Experian, we understand the importance of data privacy, and our platform reflects our commitment to safeguarding your information. Enable deeper insights and activation with Experian’s data collaboration solution Data collaboration is crucial in today’s business world, and Experian’s solutions are designed to help you bring together your 2023 and 2024 data collaboration strategies securely and efficiently. With Experian, you can unlock deeper insights, resolve digital identities, and confidently navigate the evolving data privacy landscape. If you’re looking for the right partner to enhance data collaboration to drive growth and innovation in your business, you’ll find a secure environment and the right partner with Experian. Contact us today to get started. Contact us Latest posts