Microsoft has unveiled its latest offering, the Microsoft Advertising Network for Retail, aimed at simplifying and enhancing retailers’ retail media networks. This new platform allows businesses to swiftly establish or enhance their retail media programs by tapping into Microsoft’s existing demand, ad-supply resources, and an audience of high-intent shoppers. The product is currently accessible in the United States.
The retail media network sector has witnessed remarkable growth in 2023, becoming one of the prominent areas in marketing. However, building a successful media program within a private marketplace can be a daunting and expensive task for retailers. Such programs demand expertise in digital advertising, the development of technology, and the involvement of cross-departmental teams to create, launch, and nurture the program, a process that can take several months or even years.
Microsoft’s new platform offers a solution by enabling retailers to seamlessly integrate with Microsoft’s existing Advertising Network. Brands can promote their products across various retail partner websites, resulting in incremental sales growth and increased media revenue for retailers.
“We have deep learning of the retailer experience across Microsoft, so with Microsoft Advertising Network for retail, we minimized the efforts for retailers of all sizes to begin immediately generating retail media revenue and increasing their onsite sales,” stated Microsoft’s Global Head of Retail Media Sales, Paul Longo, in the blog post.
Moreover, this offering addresses a common challenge within the retail media channel. As more retailers establish their private media marketplaces, the landscape becomes fragmented, potentially causing advertisers to hesitate when allocating resources across numerous networks. Microsoft’s solution grants access to the Microsoft Advertising Network through its new offering, eliminating these obstacles and allowing retailers to scale their operations efficiently.
Microsoft has the potential to expand this offering through strategic partnerships. They have already teamed up with performance marketing firm Tinuiti as a premier launch partner for the Microsoft Advertising Network for Retail. Additionally, omnichannel marketing company Skai will be the first third-party platform integrated into Microsoft’s new offering, opening up exciting possibilities for the future.
As the shopping landscape evolves, mostly due to online shopping, retailers are looking for ways to keep up with their customers’ demands. A recent report shows that retailers worldwide embrace AI to transform the shopping experience.