KPM's self-service advertising platform will be able to reach relevant audiences using search-based insights and custom ad groups.
Retail media has become the technology on every grocer's 2023 agenda. Now The Kroger Co. is ramping up its efforts in this space by having Kroger Precision Marketing (KPM), the retail media business of Kroger powered by 84.51°, build the next generation of advertising technology in-house. The new KPM advertising platform is intended to accelerate the ability for retail data to improve shopping experiences while also making it easier for advertisers to activate, measure and optimize campaigns.
The new self-service platform will initially encompass Kroger’s existing product listing ads and on-site display advertising. It will later power KPM’s entire retail media service portfolio.
“Retailers are creating the consumer-first future of advertising,” said Cara Pratt, SVP of KPM. “We know we need to remove friction from the retail media buying process. Building a new foundation of integrated technology empowers brands and agencies to maximize retail media’s potential. Together, we will deliver a more convenient, personalized and inspirational shopping experience.”
Retail media emerged with fragmented advertising systems for different media channels. By building an in-house advertising platform, KPM will offer a more unified marketing strategy between various on-site and off-site media channels. The company said that the new platform will also pave the way for greater interoperability with other media activation and management software.
The self-service advertising platform’s initial capabilities will allow clients to:
Reach relevant audiences using search-based insights and custom ad groups.
Design, iterate and activate creative messages within the platform.
Customize and save multiple creative templates by brand and product.
Optimize all campaign elements, including budgets, messaging and flighting.
Build reports and boost performance against deterministic retail data, including sales lift, household penetration and unit lift.
All advertisers will be able to transition to the new platform before the end of 2023. Advertisers using third-party management tools from Pacvue, Skai and Commerce IQ may still manage inventory through those platforms. Additional integrations will be revealed in the future.
“The future of media can’t look like the past,” said Pratt. “Retail media is forcing modernization across marketing. Retailers are changing the advertising playbook, because our success depends entirely on shopper satisfaction. We’re here to make advertising dollars work harder for both shoppers and brands.”