Retail Media Networks (RMNs), walled gardens, Connected TV (CTV), and media companies offer advertisers a vast number of unique opportunities to reach their target audiences through paid media campaigns. Managing campaigns across these different channels has always been a challenge, but has become particularly complex with the evolving privacy regulations, cookie deprecation and data fragmentation. Today, advertisers are faced with several obstacles in maximizing the effectiveness and Return On Ad Spend (ROAS) of their media campaigns.
In this blog, we’ll explore the 6 challenges companies face when working across RMNs, walled gardens, CTV, and media companies and solutions to overcome these obstacles to improve the effectiveness of their campaigns and drive growth for their business.
1. Fragmentation
Challenge: Each channel operates differently, with unique requirements, capabilities, and data structures. This fragmentation can make it difficult for advertisers to manage and optimize campaigns across each of these channels and compare performance.
Solution: Working within a platform that offers cross-channel campaign management, allows advertisers to seamlessly manage all of their campaigns across multiple channels from a single UI.
2. Limited Transparency
Challenge: Walled gardens, such as Google, Amazon, and Facebook, offer limited visibility into their algorithms and data, making it difficult for companies to understand how their campaigns are performing and why. New privacy regulations have only caused these companies to raise their walls higher but have also opened the door to new opportunities.
Solution: To address this challenge, the walled gardens have stood up their own clean room environments, enabling brands access to granular-level data that is not available outside of these environments. With deeper insight into performance within each of the walled gardens, companies can then focus on the metrics they can measure, such as clicks and conversions, and leverage cross-channel attribution modeling to determine the impact of each channel on their overall campaign performance.
3. Data Silos
Challenge: Each channel operates with its own data silo, making it difficult for companies to integrate data from different channels and gain a comprehensive view of their customers’ behavior and preferences across the entire campaign lifecycle.
Solution: Many companies have invested or plan to invest in a Customer Data Platform (CDP) to unify all of their customer data across channels in order to gain a more comprehensive view of their customers and deliver more effective advertising campaigns. As advertisers look to enrich their own 1st party data with other data, clean rooms can also play an interesting role in their data strategy, allowing them to securely access user-level data from strategic partners wherever that data resides.
4. Compliance
Challenge: Companies need to comply with different privacy and data protection regulations, which can be complex and challenging to navigate.
Solution: To address this challenge, companies can work with partners who have expertise in data privacy and protection and implement robust data governance policies. Consent Management Platforms, such as Ketch, help companies navigate the evolving privacy landscape by providing tools and workflows to ensure responsible use of data across all of your channels.
5. Resource-Intensive
Challenge: Managing campaigns across multiple channels requires significant resources, including time, expertise, and technology. Companies may struggle to allocate these resources effectively, leading to suboptimal campaign performance.
Solution: Working with a partner who can provide expertise and technology to not only manage campaigns across channels, but also leverage automation to reduce the manual labor, would reduce the burden on your team and allow more time to focus on strategic initiatives and planning.
6. Attribution
Challenge: Cross-channel attribution has always been a challenge, as it can be difficult to determine which channel or combination of channels is truly driving the most conversions and revenue. As more channels emerge across CTV and Retail Media, this becomes increasingly more difficult for advertisers.
Solution: To address the challenge of cross-channel attribution, advertisers can employ a multi-touch attribution model that analyzes consumer touchpoints across various channels. By utilizing advanced analytics and machine learning algorithms, advertisers can identify the most effective channels and optimize marketing campaigns for better conversions and revenue.
Putting It Into Practice
In conclusion, maximizing paid media campaigns across different channels requires overcoming several challenges. By leveraging methods such as cross-channel campaign management, data governance policies, automation, and cross-channel attribution modeling, companies can overcome these challenges and maximize the effectiveness of their campaigns. Learn how data clean rooms can help companies achieve higher ROAS.
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