Telerik Reporting R3 2019 (13.2.19.918) Retail
Val Caltagirone
Retail media has emerged as a highly lucrative and an essential part of the media mix for advertisers. It offers retailers a powerful monetization platform to drive business growth and improve customer engagement, while offering these key attractions to advertisers:
Retail Media aligns the interests of customers, advertisers, and retailers. Relevant ads inform customers about suitable products, advertisers target the most relevant customers for better ROI, and retailers can boost ad revenue and merchandise revenue while enhancing the overall retail experience.
At Kevel, we strongly believe that the longevity of any ad platform relies on aligning incentives. That's why we provide a range of products tailored to assist retailers in creating an ad platform that prioritizes activities leading to success. These activities can be bucketed into:
Management API: The Management API handles inventory and campaign management. The data input and schema created through this API have a direct influence on the factors considered by the Decision API when making decisions and how the Reporting API displays metrics.
Additional options outside of search term and category targeting can be applied to further refine relevancy and targeting. However, it's important to note that increasing targeting parameters will result in a smaller reach. It's also worth noting that there is a point of diminishing returns in terms of targeting granularity, where advertisers may not achieve the anticipated performance outcomes.
Although sponsored listings serve as an entry point into retail media, incorporating upper funnel and mid-funnel ad formats into your platform offerings sets you apart by providing branding-focused ad units in addition to fulfilling performance advertising needs through sponsored listings. This differentiation enhances your platform's value proposition.
Kevel's ad decision response returns the ad content that you have stored with Kevel. This can include various formats such as files, JSON, HTML/JavaScript ad code, or reference identifiers to content stored in your own CDN. By handling the creative rendering on your end, this approach minimizes limitations on the types of ads that can be served.
Creative Templates are user-friendly interfaces that enable the creation of custom ads without the need for coding. These templates streamline the information that ad operations needs to input in a format recognized by your server or the webpage/app for rendering.
This section assumes the reader already has background knowledge on how to setup campaigns in Kevel, if Kevel's campaign management is new to you or you would like a refresher, please refer to the the Campaign Management section of the Knowledge Base or the Management API Tutorial.
Campaign management in retail media presents unique challenges, particularly in selecting products from a brand's catalog for creating promoted listings with existing organic assets. Kevel's solution is Catalog, which seamlessly links your product inventory to Kevel's platform, eliminating the need for manual duplication and reducing opportunity for user error. By incorporating a product feed into the ad creation workflow, sponsored listings can be easily generated using an up-to-date product list, streamlining the process and ensuring listing accuracy.
Once Catalog configuration is complete, creating ads with Catalog can be found as a flight level configuration under the Ads section. Click on the dropdown for Create Ad to see additional options.
When you click on the ad, you'll see that the Creative Details are automatically filled based on the information set in the Catalog and Ad Template schemas. This automation guarantees accurate product information from the product feed, removing any potential errors that may occur when manually entering the data.
By default flight level settings are applied to ads. However, if you would like to customize specific delivery settings for individual ads, those options are still accessible in the Delivery Settings section underneath the Creative Details section.
Retail sites often provide users with additional filters to refine their search and reduce organic listings based on user defined relevancy. These filters can include price ranges, item types, colors, and more. However, a poor user experience fails to consider these filters when determining which sponsored listing to display. Kevel's AdQuery feature, on the other hand, takes into account the user's selected preferences to ensure the most suitable sponsored listing is presented.
Kevel offers last-touch attribution, which means that we assign 100% attribution credit to either the last impression or the last click that occurs before a conversion takes place. For more information about Kevel's attribution logic, visit our page on Attribution.
Same Product: Ensures that conversions are only counted when the exact product being promoted is purchased by the end user. This is helpful when advertisers want to focus on promoting a specific product without including similar products or measuring any indirect effects.
Same Brand: Beneficial for advertisers who want to promote specific items while also tracking the impact of their ads on brand awareness. It works well when advertisers aim to sell more of their products in general, along with the specific items being promoted.
To attribute a conversion to a paid media campaign, it is essential to have a persistent unique identifier that can connect a user's interaction with an ad (view and/or click event) to a purchase event.
To store user keys, you can utilize UserDB, Kevel's first party data store. If you have your own identifier for a recognized user at the time of the ad request, you can use that as the user key, otherwise, Kevel will assign one to the user. Whether you are providing your own identifier or using Kevel's auto generated, it must be present at time of ad event and sent back to Kevel as part of the purchase stream.
In order to log purchase data with Kevel, you will need to send a server side event for each purchase completed. This purchase data is what Kevel uses to confirm a transaction has occurred and compare user transactions with user impression or click events.
That said, query parameters may be use-case specific and may include custom information based on your attribution scheme and reporting needs. For example, a retail marketplace company may send Kevel the following:
Kevel's attribution attributes GMV to ad campaigns, for user level attribution, consider using Kevel Audience to assist in identity resolution and customer lifetime value tracking. See this page for more information.
Using Kevel's priorities, you can define rules that govern how each demand source competes for inventory. Priorities act as a mechanism for Kevel to honor specific requirements and deliver ads according to the defined rules, guaranteeing the desired ad sequencing and maximizing the effectiveness of your advertising strategy. Learn more about priorities.
Auctions facilitate the buying and selling of ad inventory by allowing advertisers to bid on available impressions, clicks, or conversions. Unlike traditional fixed-price models, auctions create a market-driven pricing system where advertisers determine the value of the inventory through their bids. This approach optimizes the efficiency and effectiveness of the buying process, ensuring fair competition and allowing advertisers to align their bids with their desired outcomes.
Kevel employs a normalization process to ensure that bids based on different rate types, such as flat rate, CPM, CPC, or CPA, can compete fairly in the same auction. Normalizing rates into an expected CPM (eCPM) takes performance (CTR or CVR) into consideration, which allows Kevel to optimize for the CPC and CPA flights that generate the most revenue to win the auction instead of competing solely on their price.
Take the guesswork out of bidding in your ad platform with Kevel's Autobid feature. Advertisers often have a specific goal in mind for their campaign's success, but may struggle to determine the optimal bid. With Autobid, advertisers can simply input their desired return on ad spend (ROAS) goal and maximum CPC bid. Our advanced ad decision engine takes care of the rest, automatically adjusting the CPC bid to optimize towards achieving the target ROAS.
In addition to the product specific groupings, and in additional to providing insights on impressions, clicks, click-through rate, GMV, and ROAS, retail media reporting offers attribution insights with the following additional columns:
For a regional retail service provider, Adaptive Systems replaced dozens of disparate legacy business and reporting applications and databases with an enterprise application to manage corporate master data, a data warehouse to provide a common source of truth to all consuming applications and users, and a BI / Reporting solution consisting of dashboards with relevant KPIs, emailed and interactive reporting, and a variety of analytics, including fraud detection and customer loyalty. As the client selected best-of-breed Software-as-a-Service systems to replace legacy applications, the data warehouse also served as a hub for integrating data and workflows across many external systems to keep information in-sync.
For a regional service company, Adaptive Systems provided their fleet with a mobile tablet app that dispatched and navigated them to job sites to perform services, and collected service information to report back to a command center. The mobile app provides embedded turn-by-turn directions, service instructions. It captures job start and completion information, and enables sending and receiving voice phone calls to facilitate team coordination to deliver great customer service, and automatic SMS text messaging for alerts to supervisors when certain events are reported by the mobile service worker.In the command center, Adaptive Systems provided the dashboard to plan the routing logistics for the fleet, track progress, make mid-course corrections and just-in-time changes to sites to be serviced. The dashboard captured the critical service data for review and creation of service tickets for invoicing.
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