How brands can use historical data to boost Retail Media campaign creation and performance
Today’s retail media marketers are under tremendous pressure to deliver results in a highly competitive environment. Making smart strategic decisions is critical, but not always easy. The good news? The insights you need to elevate your retail media campaign creation are often right under your nose — in your historical data.
Each campaign you run produces valuable data points about your customers, products and performance. But this information frequently gets trapped in silos and doesn’t reach its full potential. Imagine if you could seamlessly leverage learnings from past initiatives to inform future strategies.
That’s where mimbi comes in. Our retail media intelligence platform is purpose-built to help brands and agencies use historical data to plan more effectively, drive efficiency and improve results (i.e. when launching Amazon sponsored ads). Let’s explore how mimbi enables you to learn from the past to succeed in the future.
Unlocking insights from past campaigns
There are hidden gems waiting to be uncovered in your previous campaign data, crucial for retail media optimization. Every interaction — from clicks to conversions — reveals important information about your audience. By digging into historical performance, you can:
Find proven tactics: Zero in on the campaign components that consistently perform well, like high-impact ad formats and compelling messaging. Go all-in on proven winners to drive the strongest results in your retail media advertising.
Sidestep pitfalls: Pinpoint past approaches that underperformed so you can confidently head in a better direction. No need to waste time or money on tactics that don’t move the needle.
Identify meaningful patterns: Analyzing performance trends over time provides valuable context for proactive planning, from seasonality to shifts in shopper behavior. These insights are integral for effective retail media strategies.
For example, let’s say you’re a CPG brand selling on Amazon. By examining two years’ worth of campaign data, an interesting trend emerges: a high-margin product consistently sees an uptick in ROAS each summer. This insight allows you to develop a targeted seasonal strategy that capitalizes on peak demand.
More about Retail Media Campaigns Best Practices
Making data work for you in mimbi
Transforming raw data into actionable insights doesn’t have to be complicated. mimbi makes the process straightforward, starting with mimbi COLLECT — which automatically pulls in granular data from leading retail media platforms like Amazon and Criteo to aid in how to create a successful retail media campaign.
With your data centralized in mimbi, it’s time to extract strategic value using mimbi TRANSFORM. This powerful tool allows you to clean, organize and analyze data without any coding required. Important steps include:
Standardizing Taxonomies: Map each platform’s campaign hierarchy to your preferred naming system so you can dissect data in ways that are relevant to your goals, optimizing retail media campaigns for better ROI.
Selecting meaningful aggregations: Determine the right level of data granularity for your needs, whether that’s SKU-level specificity or category trends. Mimbi makes it easy to roll data up and drill down as needed.
Developing custom metrics: Go beyond standard KPIs to quantify what’s uniquely important to your brand. Quickly build tailored calculations, like a ‘New Products Conversion Rate’ to track how your initiatives drive incremental growth.
You’ll end up with a robust dataset filled with insights — the perfect springboard for retail media optimization.
The takeaway
Historical data is a powerful asset for retail media marketers. mimbi puts that information at your fingertips, empowering you to surface learnings that move your business forward, enhancing your retail media best practices.
By studying past performance, you can construct a strong foundation for ongoing optimization. These insights allow you to develop impactful campaigns that connect with shoppers and support your brand’s unique objectives in retail media advertising.
Keep an eye out for the next post in this series, where we share sophisticated strategies for transforming historical data into an insight-rich toolkit for retail media success, covering the latest trends in retail media marketing.
