What Search Marketers Need to Know About Criteo’s Retail Media Platform

Last updated: 12-30-2020

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What Search Marketers Need to Know About Criteo’s Retail Media Platform

Sponsored products via Criteo is a CPC model and a first-price auction.
It’s not keyword-based. The focus is more on the individual SKUs.
All SKUs have keywords already associated with them, thanks to information from retailer product feeds, data collected from retailer sites, and Criteo’s AI.
Brands do not have to then devote resources to developing creatives.
Bids can be set at the line item level and at the SKU level. The concept of a line item is actually new in the Retail Media platform.
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In the past, you had to sub-divide campaigns using “product groups” to group SKUs.
Now, you create line items, and each serves as a tactic to fuel the strategy of your larger campaign. You associate a retailer with each line item.
This allows you to have control over where your budget is going, as well as see retailer-level reporting.
In addition, the SKU-level bidding feature enables you to now manage CPC bids on individual products.
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By adjusting a product’s bid, you can adjust the product’s competitiveness in the auction.
Through the in-line editing tool, you can enter and save a new CPC value for each product in the Product Bid Override field. The value entered needs to either be equal to or greater than the minimum floor bid.
Another difference in the new platform is that these floors are now set by the retailer, so they can vary quite a bit within categories. Previously minimum bids were set by Criteo for their run of network campaigns.
Once entered, the product will use the new CPC value for bidding. Products that don’t have a Product Bid Override value specified will automatically use the line item bid.
With this new campaign structure, there is a lot more flexibility in organization. For example, you can have a campaign with one line item for one retailer.
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You can also have a campaign with 10-line items, each with a different retailer. Or you can have 100 SKUs on a line item.
Each line item has a start date and an optional end date. (Start and end dates are not at campaign level.)
You can choose to set a budget for the line item, as well as use daily or monthly pacing tools. Or, you can choose not to set a line item budget, and rely on the budget set at the campaign level.
Your choice.
While daily and monthly budget pacing was moved from the campaign level to the line item level in the new platform, attribution is now at the campaign level rather than the account level.
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In addition, Criteo is now providing several more attribution options. Previously, you could only do 30-day post-click and 1-day post-view. Options now include Post-Click: seven days/14 days/30 days and Post-Viewed: None/one day/seven days/14 days/30 days.
Brands can now align with the attribution windows they are using with other platforms if they so choose.
Reporting
As mentioned, brands can now view retailer-level reporting. In addition, Criteo is normalizing metrics across retailers, making it easy for you to compare performance across retailers.
The new platform also includes data visualization, so you can now slice and dice with customizable reports with the metrics you want.
You can download reports directly from the UI, or schedule reports via email.
How to Get Started
Technically, there aren’t any spend minimums to gain access to the Retail Media platform.
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However, pricing on the platform varies depending upon spend commitments and if you choose to leverage Criteo’s managed service team for management support.
With the launch of this new platform, Criteo has also evolved its pricing model to offer full transparency to brands, agencies, and retailers.
The new pricing model aligns with media and cost pricing that is used by other media buying tools and creates more transparency and flexibility to pay for what you use.
I highly recommend checking out the “Consumer Product Brands: It’s Time to Take Control of Your Retail Media Destiny” report conducted by Forrester, commissioned by Criteo. The full report is available for download and covers the landscape of retail media as it is today. And you can check out where you sit against the respondents and their maturity into retail media as a part of their process and optimization.
It will cost you an email to get it, but I thought it worth it. And if not, there is plenty of other material in the Resources section. From there, you can contact Criteo to get started.
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