Kroger Precision Marketing (KPM), the retail media business of Kroger, has announced the launch of its next-generation advertising technology. The company says the new self-service platform KPM advertising platform will "accelerate the ability for retail data to improve shopping experiences while also making it easier for advertisers to activate, measure, and optimize campaigns," according to a press release.  This development presents an exciting opportunity for CPG brands to leverage the power of data-driven marketing and deliver more personalized shopping experiences.

The in-house advertising platform aims to bridge the gap between on-site and off-site media channels. While it will initially only include Kroger’s existing product listing ads and onsite display advertising, it will eventually power KPM’s entire retail media service portfolio.

According to KPM,  As a self-service advertising platform, initial capabilities will allow clients to:

• Reach relevant audiences using search-based insights and custom ad groups.
  
  
• Design, iterate, and activate creative messages within the platform.
  
  
• Customize and save multiple creative templates by brand and product.
  
  
• Optimize all campaign elements, including budgets, messaging, and flighting.
  
  
• Build reports and boost performance against deterministic retail data – including sales lift, household penetration, and unit lift.  

KPM says it looks to transition all advertisers to the new platform by the end of 2023. While advertisers using third-party management tools can continue to manage their inventory through those platforms, KPM promises the self-service platform will offer enhanced capabilities and integration with other media activation and management software in the future. 

As part of the announcement, KPM noted that on-site advertising has already demonstrated its efficacy in inspiring product discovery for CPG brands. In a study of thousands of campaigns, 75% of targeted onsite display impressions and clicks came from new-to-brand households. According to the company, one in four new shoppers became repeat purchasers.

Got questions about how Kroger Precision Marketing's new advertising platform could change your retail media strategy?  Let's talk!