TripleLift, the ad tech platform elevating digital advertising across every screen, launched its Global Innovation Readiness Scorecard, showcasing how marketers in the U.S. and across the globe are prepared for advancements in Retail Media, CTV, addressability and AI. The scorecard determined specific scores on a 100 scale taken through aggregation and analysis of surveyed responses of hundreds of marketers across the U.S., UK, Germany and France. Responses were weighted by 40% familiarity, 40% preparedness and 20% perceived impact, as advertisers need to be prepared and familiar to execute on an innovation, but don’t necessarily need to fully understand the impact upfront.
Over the past six months, programmatic advertising has seen its greatest expansion of innovation, seeing double-digit growth, according to eMarketer, across multiple innovative solutions, which will continue to escalate into 2025 and beyond. As marketers struggle to keep up with innovation, TripleLift examined how comfortable they were to embrace change and whether they felt they were truly ready to leverage the opportunities that various innovations offered to their goals.
According to the research, one in five advertisers perceive retail media will be one of the top two areas of innovation that will ultimately drive future success in 2024 and beyond. TripleLift’s recent Amazon partnership announcement1established itself as a true leader offering innovative retail media advertising solutions. As such, TripleLift’s research team was pleased to discover that 67% of marketers in the U.S. said they were ready to implement the changes coming to retail media, while 71% said they have strong familiarity with the retail media solutions that are currently available.
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“Retail media is the fastest growing segment in digital and will continue to scale for years to come, making the opportunities for creative and data to power advertising quite literally endless,” said Ed Dinichert, Chief Revenue Officer at TripleLift. “Retailers want to cash in on media opportunities and are understandably lured by high margin potential, but they need a full technology stack and teams who understand the space to run the business. It’s great to see that marketers recognize this potential and are preparing to unlock a whole new world of revenue.”
According to TripleLift’s Scorecard, the U.S. is among the most prepared for implementation of programmatic solutions in retail media, with the UK, Germany and France all scoring similarly for overall readiness. With this foundation of success, marketers have begun to look beyond retail search, focusing more on the expansion to offsite solutions. In fact, 55% of marketers in the U.S. are planning to increase spending to off site advertising over the next year and TripleLift anticipates the readiness score (which was calculated at 59) for this particular area to increase in the year to come.
In addition to retail media, which has seen the largest change in the last year, TripleLift also reviewed the readiness of marketers in CTV, Addressability and AI. Unsurprisingly, since CTV has been around for years now, the Scorecard found that 83% of marketers in the U.S. are familiar with the space, while 78% are prepared, giving it a total readiness score of 73. Addressability and AI also both ranked highly, with 70% of marketers saying they are familiar with Addressability and 71% saying they are familiar with AI. Though they felt less prepared for each category (64% for Addressability and 57% for AI), they had slightly higher readiness scores of 63 and 60 respectively. This shows that while marketers are aware of the opportunities that come from Addressability in particular, they are still looking for methods of implementation, especially as Google’s deprecation of the cookie continues to be delayed. With so much uncertainty, TripleLift continues to innovate, finding new ways to assist marketers and publishers by introducing TripleLift Audiences earlier this year, a cross-site targeting solution that helps advertisers reach customers on the open internet.
“We have been energized by the findings of this Scorecard, and are especially excited that people are feeling as optimistic about retail media as we are,” said Samantha Powers, VP of Research and Insights at TripleLift. “What we are seeing is that marketers are willing to understand and execute on innovative solutions, but there are still areas for them to learn about what barriers may be in place and what success could look like in their region. As experts in the field, we look forward to educating our partners and helping them find solutions that help their business in the long run.”
For this research, TripleLift conducted an online survey in partnership with Advanis and RepData. The survey was sent to programmatic advertisers in the U.S., U.K., France and Germany, with a total sample size of 832. The responses were weighted by 40% familiarity, 40% preparedness and 20% perceived impact, as advertisers need to be prepared and familiar to execute on an innovation, but don’t necessarily need to fully understand the impact upfront.
SOURCE: PRNewsWire