First-Party Data & Retail media - the holy grail for brands
Brand & Agency Advertisers are after Retailers' First-party Data
SEATTLE - Dec. 17, 2021 - PRLog -- Kritter Software Technology is one of the pioneers in enabling retailers, eCommerce platforms, and other commerce portals to generate additional high-margin revenue streams through retail media. Retailers can onboard advertisers (agencies & brands) to bid on their inventories and audience segments to create meaningful & targeted experiences for the end consumers.
Using Kritter, retailers can manage their inventories, introduce new ad types, provide advertiser portals to their brand partners, and most importantly, activate their first-party data without letting it leave their infrastructure. In the age where user data privacy is taking center stage, 3rd party cookies are going away soon, and advertisers are in a fix to understand the efficacy of their online advertising, first-party data with the retailers is getting all the attention it should.
With the acceleration that online commerce has seen in the last two years, online retailers sit on a gold mine when it comes to knowing their customers. Add to that the fact that more product searches in the US start on Amazon than on Google, which gives a clear indication of retailers owning the product purchase cycle.
Another notable development is the fact that, as per emarketer, more marketers are willing to push in brand advertising budgets (from TV) on retail media than before.
All this culminates into one thing - retail media networks will be the top gainers in 2022.
Kritter software technology has been helping eCommerce portals achieve success for over five years now. One such success story is of a mobile wallet app in India, where within a span of 8 months, the infrastructure scaled from handling a few thousand ad requests to over a billion ad requests per day. With over a few million customers on the platform, the app now manages a significant chunk of its ad delivery through Kritter's platform, allowing its brand partners to deliver targeted ads to specific user segments.
Rohan Rai, Co-founder of Kritter Software Technology Pvt Ltd, is excited to see how far this leading payment app has come. He states - "The scale that was achieved within a year is phenomenal. The DSP handles over 2.3 billion daily ad requests for around 100 advertisers daily. In all, the platform serves over 15 billion ads monthly." On the efficiency of the infrastructure, he adds, "the average time to deliver an ad unit on the platform is less than 150 milliseconds (ms). Against the industry average of 200 ms, this is surely a big achievement."
Kritter Software Technology enables retailers to onboard their first-party data, generate audience-based insights, create customer segments, and make them available to target through the demand-side platform.
Kritter Software Technology Pvt