UM, a global media agency network of IPG Mediabrands, announced the launch of Shoptimizer, a first-of-its-kind retail budget allocation and optimization tool that simplifies commerce planning while maximizing ROI. In the initial test phase that included commerce media buys for several global consumer products brands, the use of Shoptimizer resulted in a 12-15% increase in incremental sales, with clients citing “greater transparency” and “a deeper understanding of sales contribution by retailer network” as benefits of the new tool. Responsible for more than $2B in billings globally, UM’s Commerce Practice continues to build upon a decade of AI- and Machine Learning-powered technology offerings that drive new business and organic growth.
“UM has been leading the commerce media space for over a decade and Shoptimizer is our latest data- and tech-fueled innovation designed to adapt to ever-changing buyer behaviors and to accelerate conversion,” said W. Joe DeMiero, US CEO, UM. “This new tool gives our clients more flexibility and efficiency in spending, based on real-time data, leading to proven business results.”
Shoptimizer harnesses the power of data to inform priority retailers and budget allocations, leading to increased measurement, optimization, agility and ultimately sales revenue. Through a convenient and easy-to-use dashboard, the tool gives brands the power to determine how much to spend within the commerce space against a specific retailer based on past spend and sales. Brands can then optimize spend across all retail channels and tactics within each retailer ecosystem, driving the most favorable return on specific campaigns.
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Shoptimizer is a key offering within IPG Mediabrands’ recently-announced Unified Retail Media Solution, a dedicated business unit that enables brands to intelligently manage their investment performance seamlessly across all Retail Media Networks, one of the fastest growing advertising channels.
UM US Head of Commerce, Amie Owen, says, “With the rising need for simplification in this space, we developed Shoptimizer to give clients a more efficient way to plan and optimize tasks that were previously done manually. This solution delivers quicker results and a more streamlined process, and for the first time, sets the stage for standardization across retail media.”
UM Commerce has been leading the industry since shopper media was a nascent offering. UM was the first agency to create comprehensive tools for planning and buying commerce media such as ShopSmart, a dashboard housing hundreds of commerce media solutions sorted by KPI and retailer.
SOURCE : PRNewswire