— Proprietary SaaS Platform NEON Provides Marketers a Single Solution to Optimize Investments and Predict Revenue ROI —
— Night Market Debuted NEON this week at CommerceNEXT in New York City –
NEW YORK, June 12, 2024 /PRNewswire/ — Night Market, the Commerce affiliate of Horizon Media, is expanding NEON, its proprietary AI-based analytics SaaS platform, to provide marketers a single platform to plan, measure, and optimize retail media investments. For the first time, marketers will gain access to standardized measurement across retail media networks (RMNs) to assess the performance of their campaigns in real-time and, within the same program, adjust investment allocations based on ROI outcomes, as well as see resulting revenue predictions.
As RMNs provide brands with a direct sales channel to acquire customers, US ad spend in this category is expected to reach $100 billion by the end of 2026 according to BCG and McKinsey, making it one of the largest media channels. However, there are more than 200 RMNs – all with different approaches to measurement and reporting. In addition, each retail media network is competing to show a higher ROAS to attract a larger budget allocation.
Given these increasing discrepancies, marketers are unable to assess how each retail media network in their portfolio is performing and therefore do not have the analytics required to identify the optimal allocation of their investments. Because of these varying approaches in a highly fragmented market, CPG, apparel, electronics, and other marketers who leverage these platforms are struggling to get a full, immediate view of their investment performance.
Compounding the issue, retailers and campaign management platforms optimize campaigns based on retailer-provided ROAS, which does not align with the advertiser’s ROI from its MMM provider and on-average is provided three months post-campaign. This lag creates an unacceptable disconnect between in-campaign optimization and third-party measurement – leaving revenue on the table.
Advertisers have tried to integrate real-time ROI measurement tools with their campaign management platforms. However, unlike NEON’s all-in-one platform, there is no direct and correlated connection between ROI planning and the optimization tactics.
“What we have developed with NEON will change the experience of all marketers seeking to better understand their campaign performance – in real-time, not bogged down by months of reporting delays,” said Randy Browning, President of Night Market. “We knew this platform would be transformative in planning, measuring, and optimizing retail media investments, but the success that our clients have seen has been extraordinary. For example, one of our CPG clients was at a competitive disadvantage by measuring performance with a marketing mix model with four-month reporting delays and optimizing campaigns on a separate platform. We introduced NEON, and it now provides weekly ROI, as well as the platform upon which to optimize. This improved workflow, aligning leadership and media managers through planning and optimization, is accelerating performance and market share.”
NEON SaaS applies a single ROI evaluation methodology across all retail media networks. This enables supporting AI to identify the optimal investment allocation across platforms and tactics including Search, Display, and off-site – pushing out the optimizations to the retail media networks. While becoming a leader on any new marketing channel can take years of testing and iterations, with NEON, businesses can optimize retail media investments and accelerate campaign performance to become market leaders in a much shorter time.
On June 11 at CommerceNEXT in New York City, Night Market and Amazon Ads presented “Powering the Pervasive Store to Enable Commerce Anywhere and Everywhere” as part of the Discovery Lounge experience.
About Night Market
Night Market, the Commerce affiliate of Horizon Media, is a commerce agency at the intersection of media, creative, experiences, and digital transformation capabilities. Using a holistic systems approach to more informed decision-making and increased performance, we combine the right mix of human and technical capabilities to design and deliver omnichannel experiences that influence consumer perceptions and behavior across owned, leased, contextual, and experiential platforms. Founded in 2020 with a focus on being a business partner and a business driver, Night Market helps clients excel in the modern, evolving, and dynamic commerce landscape to maximize business performance, growth and outcomes.
About Horizon Media
Horizon Media, the largest U.S. media agency according to Ad Age Data Center 2023, delivers data-driven business outcomes for some of the most innovative and ambitious brands. Founded in 1989, headquartered in New York, and with offices in Los Angeles and Toronto, the company employs 2,400 people and has media investments of more than $8.5 billion. Horizon Media’s fundamental belief is that business is personal, which drives its approach to connecting brands with their customers and engaging with its own employees resulting in industry-leading workplace satisfaction levels (Glassdoor). The company is consistently recognized by independent media outlets for its client excellence and has earned several “Best Workplaces” awards reflecting its commitment to DEI and the life and well-being of everyone at Horizon Media.
source link: https://www.prnewswire.com/news-releases/night-market-introduces-first-ever-standardized-measurement-across-retail-media-networks-allowing-real-time-campaign-performance-assessment-302170759.html