The Mars Agency is presenting a universal tool for the effective assessment and comparison of retail media platforms.
To obtain of the most recent copy, visit here: Retail Media Report Card: 3Q 2023
When it comes to the rapidly growing landscape for retail media networks, that old saying is literally true: You can’t tell the players without a scorecard.
With eMarketer estimating that ad spending through retail media networks will reach $61 billion by 2024, numerous retailers, last-mile delivery services and third-party vendors are building and expanding their platforms in an effort to capitalize on the trend. The landscape is continuously changing, making it increasingly difficult for brand marketers to keep pace.
“Retail media is one of the most effective methods of shopper engagement and sales conversion available for brands,” says Ethan Goodman, SVP-Commerce Media at The Mars Agency. “But there is plenty of opportunity for them to spend poorly and miss opportunities by allocating dollars to platforms or programs that won’t meet their direct needs or don’t measure up to industry standards.”
To help our clients efficiently evaluate their spending options across networks, The Mars Agency developed a scorecard that assesses the capabilities of leading platforms across the key criteria required to optimally plan, execute and measure effective retail media programs. We use this scorecard — alongside broader assessments of each network’s role in the overall brand-retailer partnership — to help clients begin identifying “best bet” investments for their media dollars.
Now, to encourage the development of industry standards for effective evaluation that can improve the collaborative process between retailers and brands, The Mars Agency is publicly sharing an abridged version of this scorecard.
Available now, the first edition of the “Retail Media Report Card” evaluates the capabilities of 10 leading networks across 62 criteria in five critical performance areas: Audience Targeting, Measurement & Reporting, Media Opportunities, Innovation, and Partnership.
Retail Media Networks evaluated:
Using this capabilities assessment and their own experience and expertise, The Mars Agency’s Commerce Media team has also selected “Best in Class” networks for each performance area to recognize platforms that are truly exceeding industry expectations.
“We designed the Report Card to give brands an informed, first-step method of evaluating their potential retail media options, as well as a tool for bringing practical, more mutually beneficial plans to the negotiating table,” explains Goodman. “We think it can also serve as an effective benchmarking tool for the networks themselves — many of which provided invaluable input as we put together our analysis.”
The Report Card will be updated on a quarterly basis to reflect the ongoing efforts of these networks to improve their capabilities and build stronger, more effective partnerships with brands. We plan to add additional retailers to the analysis and refine the criteria as needed based on the evolving needs of the marketplace.
To learn more about The Mars Agency’s process for retail media investment analysis, contact Ethan Goodman at [email protected].
DOWNLOAD THE RETAIL MEDIA REPORT CARD BELOW