As 2022 witnessed retail media spend eclipse $40 billion, businesses found themselves in a race to have the right processes and solutions to tackle the ever-growing business challenges and catch up to technological advances and other innovations in the industry. With digital advertising expenditure crossing the $600 billion mark in 2022, One of the topics of discussion in the CPG industry throughout 2022 was the rising relevance of retail media. In this scenario, having highly contextual solutions which simplify decision making and make performance measurement at scale easy is a necessity that retailers and suppliers/ sellers need to have.
This is where NucliOS comes in as an end-to-end business application development platform – enabling organizations to get highly customized apps that automate their processes & workflows and are powered by sophisticated AI/ML models yet having a simplified interface which businesses can easily leverage to measure, track, optimize & achieve their outcomes with.
For us at MathCo, NucliOS is integral to our retail media solutioning journey. Its foundations of customizability and accessibility represent the way we build future-ready solutions. In this article, we will see how NucliOS is well-suited to solve retail media problems and how it helped us to build a customized banner pricing solution for one of our prominent retail clients.
How NucliOS helps retail media
With retail media marketing taking an important role in the heavily digitized post-pandemic scenario, having an AI application suite that is already suited to this growing need is crucial. Our Retail media suite – extensively built on NucliOS for the present and next-gen requirements, can help companies in all stages of the RMM lifecycle with the following:
1. Media planning: Effectively allocating investments across channels, media formats & more; Safest way to put marginal dollars; Recommendation of keywords for sponsored listing, spend and budget optimization, and planning for on-site, off-site, and email campaigns, etc.
2. Media sales & partnership: Enable and elevate sales for suppliers & retailers; advertiser relations and insights on partnerships.
3. Performance reporting: Tracking holistic retail media performance through extensive reporting suite, channel & campaign analytics, brand & supplier analytics, Inflight Campaign monitoring, Prioritizing & queueing for processing & delivery.
4. Yield & pricing: Pricing of different banner ads and yield management.
5. Customer insights: Identify graphs & customer journey analysis, purchase behavior and conversions, customer segmentation & targeting, audience querying & recommendations.
6. Ad operations: Everything from booking to billing including how to book an ad and what prices and creatives will accompany it.
In focus: How NucliOS transformed banner pricing for a major home improvement retailer
Previously, our client’s teams were still using manual methods such as spreadsheets to input data and make important decisions on banner pricing strategies. Being heavily reliant on human effort and co-operation, it inevitably led to inefficient pricing strategies, redundant and overlapping entries, leading to unsold banners and consequent losses.
After understanding the problem, we got to work on a solution that would reduce the need for human effort and avoid redundancies, while providing accurate pricing, available ad inventory forecasting and automated process management. We leveraged our proprietary accelerator platform NucliOS which already had a prototype for retail media banner pricing. We built a scalable and fully automated webtool and solution for onsite banner campaigns with the goal of enabling data-driven onsite banner pricing recommendations. The resulting solution provided the client’s sales teams with important automated information such as:
- The ideal times to book a banner,
- The number of advertisers booking a banner slot,
- Number of advertisers currently in hold,
- Banners already set up for sale,
- Banners to be worked on by Ad Ops teams,
- Banners currently in inventory,
- Dynamic inventory management,
- Notifying user(s) if inventory is sold out,
- How inventory can be freed up,
- How banners can be made available for upcoming fiscal weeks,
- Upcoming events for pricing strategy,
- Traffic and how it will change, etc.
We focused on providing an improved end-to-end user experience while keeping things customizable. The banner pricing solution, built on NucliOS not only provided an intuitive user interface (UI) but also reduced manual touchpoints by making use of validation checks for not just the booking and placement of banners, but also for media pricing, reservation, and the sales process of said banners. Additionally, the solution guaranteed pricing compliance and inventory utilization as it was tailor-made for the client’s product environment.
In the end, the ease of creating business applications through NucliOS allowed us to maximize the client’s revenue generation from on-site banner campaigns, reducing the occurrence of unsold banners and cutting costs – by over 35%. With an on-site team that constantly generates data for the tool, we are now working with them on updates and maintenance.
What sets NucliOS apart in retail media
What sets NucliOS apart is that it was built with customizability as its defining feature. We believe in the power of a platform that can easily adapt to serve a customer’s requests or additional demands. As a result, it is also easy to update, and minimizes turnaround time for any changes made. Our open-source approach to client solutions also helps us win their trust. NucliOS-built solutions feature full-fledged architecture native to clients’ product ecosystems with built-in cloud services (ingesting, hosting, processing, backups, syncing, etc.) and firewall security.
In the post-pandemic context, retail media marketing is a hot topic and businesses in the industry want the right solutions for it as soon as possible despite it being relatively new. For NucliOS, however, these offerings are native to it, and it is uniquely positioned in the industry to take advantage of increasing demand for retail media solutions.
Are you looking for an analytics partner with experience and expertise in retail media marketing? Find out more about our RMM capabilities and how we can help you here.
