Mirakl, an enterprise marketplace SaaS platform, has introduced a platform-agnostic retail media network solution called Mirakl Ads to help businesses monetize e-commerce web traffic across both marketplace and first-party offerings.
Mirakl Ads is a suite of tools created to provide advertisers and marketplace sellers with a “relationship-driven” platform to help optimize their digital advertising spend, according to a news release. The offering aims to streamline campaign management with automated campaign capabilities leveraging sales data and sellers' store catalogs to determine which sponsored ads will generate the best engagement, while also offering real-time performance metrics.
The unified solution also eliminates the need for multiple logins, additional integrations and disparate budgets, per the release.
As retail media continues to trend upward and garner more media spend, the space is projected to reach $101 billion in 2022 (15% higher than a year ago) and will hit $160 billion in annual revenue by 2027, according to recent research and forecasts from GroupM.
While Mirakl sees this trend creating significant opportunity for online retailers to monetize web traffic, the company believes there’s room to grow as many existing solutions don't meet the needs of today's e-commerce landscape. According to the release, Mirakl says many solutions lack the control, visibility and buying experience required to deliver adequate ROI, which led to the creation of Mirakl Ads.
For publishers and marketplace operators, Mirakl Ads is compatible with marketplace, drop ship and first-party e-commerce, working across a full digital product assortment. Where many existing solutions allow dynamic auction bidding to go unchecked, Mirakl Ads empowers users to define campaign performance metrics, according to the release.
Additionally, Mirakl Ads will offer a digital ads-in-a-box solution for publishers to “launch and grow faster,” through pre-built integrations, campaign automation and a team of retail media experts available to help set up and scale campaign operations.
Mirakl Ads was also designed to enhance the buying experience for the end customer by doing away with irrelevant or distracting ads. Using Mirakl's proprietary artificial intelligence, Mirakl Ads will surface the “most relevant” sponsored products to the right customers.
Mirakl Ads is the latest addition to Mirakl's suite of solutions. Initial availability for Mirakl Ads will begin in April 2023 via a global early access program.