Privacy Sandbox for the Web will phase out third party cookies, and take action to limit other types of cross site tracking.  However, there are important use cases that rely on third party cookies and Privacy Sandbox has a number of new technologies available to support relevant use cases developed using the latest privacy enhancing technologies like differential privacy, k-anon etc.  In addition by limiting other forms of cross site tracking and by reducing the amount of information sites can access, Privacy Sandbox will also reduce covert tracking techniques such as fingerprinting.

The proposals are being developed in public forums, in collaboration with members of the industry. Chrome also continues to work with the UK's Competition and Markets Authority (CMA) in line with the commitments they offered for Privacy Sandbox for the web. We encourage participation through the many public feedback channels that inform the development of the proposals. Stakeholders can also use this form to share feedback directly with Chrome if they are unable to share publicly.

Timeline

The Privacy Sandbox proposals are in various stages of the development process. You can find the latest timeline on the privacysandbox.com website which will be updated once per month. Please note that the final deprecation of third-party cookies in Chrome is subject to approval from the UK's Competition and Markets Authority (CMA).

API Proposals

Chrome and other ecosystem stakeholders have offered more than 20 proposals to date, which can be found in the public resources of W3C groups. These proposals cover a wide variety of use cases and requirements.

• Strengthen cross-site privacy boundaries (e.g. First Party Sets or Federated Credential Management (FedCM))
• Show relevant content and ads (Topics and Protected Audiences)
• Measure digital ads (Attribution Reporting and Private Aggregation API)
• Prevent covert tracking (e.g. IP Protection or Privacy Budget)
• Fight spam and fraud on the web (Private State Tokens)

Topics API

Topics is a proposal in the Privacy Sandbox designed to preserve privacy while showing relevant content and ads. The browser will infer a handful of recognizable, interest-based categories based on recent browsing history to help sites serve relevant ads. With Topics, the specific sites you’ve visited are no longer shared across the web, like they might have been with third-party cookies. 

How it works: There are two main parts to Topics. First, the API labels each website from a set of recognizable, high-level topics. For example, the browser would match a sports website with the topic "Sports". Then, the browser collects a few of the most frequent topics associated with the websites you’ve visited. These topics are then shared (one topic per week and maximum of 3 weeks) with the sites a user visits to help advertisers show more relevant ads, without needing to know the specific sites a user visited.

The browser will use a limited set of topics selected from a human-curated, publicly visible list. The updated list contains around 469 topics - the taxonomy size is limited to reduce the risk of fingerprinting. 

Users will be able to see the topics and remove any a user doesn't like, or disable them completely in Chrome  under their respective ads privacy settings

Learn more

Demo: https://topics-demo.glitch.me/

Tester list: Topics 

Office hours: https://github.com/patcg-individual-drafts/topics/issues/115

Protected Audiences API

Protected Audience API (fka FLEDGE) is a new way to address remarketing, ie. reminding you of sites and products you’ve been interested in, without relying on third-party cookies. As a user moves across the web,  advertiser sites can inform the browser that they would like a chance to show  a known interest group a specific ad . They can also directly share information with a user’s browser including the specific ads they'd like to show and how much they'd be willing to pay to show this user an ad. Then, when a user visits a website with ad space, an algorithm in the browser helps inform what ad might appear.

Learn more

Office hours: https://github.com/WICG/turtledove/issues/88

Tester list: Protected Audience

Attribution Reporting API

Today, ad conversion measurement often relies on third-party cookies. Browsers are restricting access to third-party cookies because these can be used to track users across sites and hinder user privacy.

The Attribution Reporting API enables those measurements in a privacy-preserving way, without third-party cookies. Imagine you’re browsing the morning news and you see an ad for a pair of headphones that are on sale. You click on the ad to take a closer look. An adtech company can use Attribution Reporting to let an advertiser know that a purchase occurred, but keeps your individual browsing or app activity private – using methods like encryption, time delays, secure servers, and data aggregation and randomization.

This API enables advertisers and ad tech providers to measure conversions in the following cases:

• Ad clicks and views.
• Ads in a third-party iframe, such as ads on a publisher site that uses a third-party ad tech provider.
• Ads in a first-party context, such as ads on a social network or a search engine results page, or a publisher serving their own ads.

Learn more

Public Handbook: [public] Handbook (Experiment with Attribution Reporting)

Demo: https://arapi-home.web.app/

Tester list: Attribution Reporting

Office hours: https://github.com/WICG/attribution-reporting-api/issues/80

How to get started with testing

If you are interested in testing the Privacy Sandbox APIs, the “Get started” section on https://developer.chrome.com/docs/privacy-sandbox/ is a good place to start. For the Topics API (Interest Based Ads) and Protected Audience API (Remarketing and Custom Audiences) you can also check out the integration guides below:

• Topics API Integration Guide
• Protected Audience Integration Guide

You can also get in touch with Chrome directly by joining the publicly available office hours:

Topics Office Hours

Protected Audience Office Hours

Attribution Reporting Office Hours

You can also share your feedback directly via the Privacy Sandbox feedback form.

How to prepare your website for 3PCD

The Privacy Sandbox team has published guidance to help websites and services prepare for third-party cookie deprecation (3PCD) and minimise disruption to user-facing features. Here are specific actions you can take as we continue to approach full deprecation: 

• Test your service with third-party cookies turned off to find breakage on your website. 
• Report breakage as a result of 3PCD as soon as possible.
• If you provide an embedded content/service that is experiencing breakage: request temporary access to third party cookies through a third-party deprecation trial. This article explains the deprecation trial and qualifications; if you qualify and need additional time to prepare for 3PCD, please register as soon as possible.  Please note the grace period that is available immediately to address web compatibility issues.
• If your website is experiencing breakage: Report breakage as soon as possible, to be considered for the grace period that is available immediately to address web compatibility issues. Apply for the first-party deprecation trial to extend access to third-party cookies past the end of the grace period.
  • If you find that an issue is due to a third-party service, we recommend that you share information about the breakage with your provider to confirm they are preparing for 3PCD.
• Provide feedback on the Privacy Sandbox program.

Privacy Sandbox guides designed for marketers, publishers, and ad tech providers

The guides and checklists below provide actionable information on how to get started with Privacy Sandbox APIs or how to prepare for third-party cookie deprecation.

• Ad Techs
• Marketers
• Publishers

Thanks to the support of our sponsors, media partners, the team at IAB Italy, and our event host Joanna Burton, we enjoyed two days of content, which focused on our theme ‘The Big Questions. The Smart Answers’. 

View the event images here.

Going beyond standard keynote presentations and panel discussions, we brought the ‘interactive’ back to Interact this year, with each session framed around a key question that our elite, expert speakers endeavoured to answer. No beating around the bush. It was all about delivering smart answers to the industry's most important questions. Plus we addressed additional questions live on stage through our engaging polls and audience Q&As. 

On day one, we focused our attention on tackling the industry’s biggest challenges and innovations head-on, exploring key topics and unearthing the much-needed answers to areas including the latest digital ad spend figures, what buyers want from digital advertising, how ready the industry is for a world without cookies, what’s next for programmatic TV and Retail Media and if we are measuring the right things. 

Below you can find overviews and key takeaways from each session.

AdEx Benchmark 2023 - Where is Future Advertising Growth Coming From?

Interact 2024 opened with a keynote from our Chief Economist, Daniel Knapp, revealing the top-level results from IAB Europe’s widely-anticipated 2023 AdEx Benchmark Report to show whether the digital advertising industry experienced growth for 2023 and if so, what markets and channels contributed to this growth. 

Daniel gave an exclusive presentation on the key results which will be released on the 12th June! Mark this date in your calendars to access IAB Europe’s 2023 AdEx Benchmark Report. This is the definitive guide to digital advertising expenditure in Europe. 

What Do Buyers Really Want From Digital Advertising?

Following the opening keynote, to ensure we deliver on the growth seen and that we have all of the y components in place to attract advertiser investment, key speakers from Diageo and TIM Group joined the stage to reveal the secrets of what they are really looking for when it comes to digital advertising. They shared exclusive priorities and focus areas, innovative areas that excite them, and their thoughts on what they think is driving the future of digital advertising. 

Speakers:

• Hannah Bowler, Senior Reporter at The Drum (Moderator) 
• Tiernan Omorain, Digital Transformation Director at Diageo
• Alessandra Marinacci, Head of Brand at TIM Group

Key takeaways:

• Brands want transparency in how data is collected.
• Testing and learning are important to brands.
• Brand loyalty is created with a good customer experience.
• Tiernan shared that Diageo has experimented with creative AI and is innovating with audio by creating personalised audio ads based on location - they see this as an area of growth but that it is more difficult to create engaging creative in audio campaigns.
• On maintaining clean marketing in mobile campaigns, Alessandra shared that TIM Group leverages social media to make it entertaining to their audience, whilst ensuring that ads aren’t delivered at too high a frequency. It’s important to them to tap into the power of mobile and leverage video to encourage social engagement and sharing. 
• On the topic of DE&I, Tiernan shared some key insights on what Diageo has done so far:
  • 45% of Diageo’s ads have been created by female producers
  • Diageo ensures its media investment is more representative of the society that enjoys its brands
  • On Guinness’ long-term relationship with rugby, they used this as a platform to have more conversations with publishers to support greater coverage of the women’s games
• Regarding trends and opportunities in the year ahead, Alessandra shared that TIM Group is exploring VR and more ways to enhance user experience with Generative AI.
• Diageo is also exploring how to measure views cross-platform in a privacy-compliant way as this will be a ‘game-changer’.

What is the New Intersection of Creativity and Technology?

Continuing on the theme of asking questions to the buy-side, our next session explored the evolving relationship between creativity and technology in content creation with speakers delving into how agencies harness emerging technologies to push the boundaries of storytelling and brand communication. From immersive experiences to AI-driven content, the group answered questions on the latest trends, challenges, and opportunities in leveraging technology to enhance creativity. 

Speakers:

• Constantine Kamaras, Chairman Emeritus, IAB Europe (Moderator)
• Sergio Amati, General Manager, IAB Italy
• Erika Fattori, Group Brand & Communication Director, Nexi

Key takeaways:

• The group agreed that leveraging first-party data is important as it needs to be optimised in a stricter regulatory environment.
• They also dived into how Generative AI is empowering creativity if used in the right way.
• They highlighted that it is important to understand how technology and data work and the origins of the data.
• Finally, they discussed how technology is changing people’s skills and is creating new marketers. As an industry, we are looking for people with skill sets that don’t yet exist. There is a need for people who understand technology and are ready to discuss its problems but can also transfer this to a business perspective. 

How Does the End of Cookies Lead to Better Digital Marketing?

Next, it was time to tackle one of the industry’s most discussed topics of 2024 - the post third-party cookie era. Given the importance of the subject, the next few sessions were dedicated to answering key questions about how stakeholders are preparing to navigate this new paradigm. 

To kick off the cookie conversation, Mediaplus argued that the abolition of cookies is not imminent but has already happened. With alternative targeting technologies already established, they revealed how data minimsation makes advertising better, not weaker.

Speakers:

• Sascha Dolling, General Manager at Mediaplus
• Erika Barbieri, Client Lead at Mediaplus Italia, Mediaplus Italy 

Key takeaways:

• Sascha began the presentation by stating that as regulations continue to evolve and browsers and gatekeepers restrict global IDs, digital marketing must change. More targeted independent, scalable, and sustainable solutions are needed.
• In light of this Mediaplus has released NERO AI, a solution that relies exclusively on global identifiers for more precision. 
• He demonstrated that the solution relies on three approaches - verified context taxonomy, interests and behaviours of users, and individual value systems. 
• He showed that the solution works with the content of the website, and how it uses a large language model for a deep understanding of the users behind the content. This helps to define the audience and audience targeting characteristics using cookie-less and consent-less targeting.
• By leveraging behaviours based on interest, intent, and psychographics it improves media placements, increases target group affinity, and reactivates additional reach with ID less traffic for marketers. 

Leading Players Are Preparing for Third-Party Cookie Deprecation. Are You Ready?

In the next session, Google and Adlook joined the conversation to discuss how future-thinking ecosystem players are preparing for third-party cookie deprecation. Covering innovative solutions based on Privacy Sandbox technologies they explored what actions you can take today to get ready and stay ahead in the post-cookie world.

Speakers:

• Hanne Tuomisto-Inch, Director, Privacy Sandbox Partnerships EMEA, Google
• Lukasz Abgarowicz, Global VP of Sales at Adlook (Part of RTB House) 

Key takeaways:

• Hanne kickstarted the discussion by explaining why the demise of third-party cookies in Chrome has been delayed. She shared that this was for several reasons including diverse feedback on industry readiness, general industry feedback, and feedback received by the CMA.
• Even though it is delayed, she confirmed that Privacy Sandbox is not going anywhere. It is here to stay and is one of the tools in the toolbox that will be used in the post third-party cookie era.
• Both Hanne and Lukasz reiterated that the web and mobile must continue to adapt and raise the bar on privacy to ensure success in this new era. 
• To conclude they shared that advertisers and publishers should now focus on a cookie-less future, work on website audits, use tools to analyse dependencies on third-party cookies, and continue to provide feedback.

View the presentation here.

Is the Industry Ready for the End of Third-Party Cookies?

To further explore and round up the conversation on the impending world without cookies, our next panel answered key questions on the current challenges, opportunities, and strategies for navigating the post-cookie era, assessing whether our industry is ready for this seismic shift and how strategies can be adapted to ensure effectiveness in the future. 

Speakers:

• Pete Danks, IAB Europe’s Third-Party Cookie Working Group Lead (Moderator)
• Christer Ljones, Director of Advertising Data Capabilities at Schibsted
• Alex Cone, Privacy Sandbox Senior Product Manager at Google
• Lawrence Horne, Country Director UK at Ogury

Key takeaways:

• Addressing the delay to the end of third-party cookies in Chrome the panel stressed that we must not to stop testing and learning. The industry should follow its peers and lean into the new era.
• They also discussed how collaboration and education are key. Numerous advertisers aren’t into the technical side of things, so industry leaders need to ensure that we educate.
• As signals reduce and privacy grows we need building blocks that will work.
• In terms of viable solutions, speakers discussed first-party data and why where that goes is important. Zero-party data was also mentioned as a viable solution as it is founded on user respect and understanding intent. 
• From a Google Chrome and Android perspective the adoption of APIs is a priority area. 
• When thinking about what scales best for publishers, speakers discussed first-party data having the largest reach and the need to utilise different sets of targeting. 
• Overall the group agreed that there is still a lot to do on expectation setting and understanding the paradigm shift. 

In a Landscape of Uncertainty, How Can Marketers Leverage Digital Advertising to Deliver Superior Results?

With the post third-party cookie questions answered, it was time to turn to outcomes and other challenges marketers face. In a world affected by the pandemic, climate crises, and misinformation, there are multiple challenges for marketers to overcome. In this keynote, IAS shared strategies for combating misinformation, safeguarding brand reputation, and fostering consumer trust. They also discussed the importance of adopting tools to face ever-evolving circumstances.

Speaker:

• Michael Issacs-Olaye, Business Development EMEA at Integral Ad Science (IAS)  

Key takeaways:

• Michael outlined that there is confusion in the market because of incomplete and inaccurate data, meaning reliable data is key to success.
• He shared several challenges and key factors that marketers should keep in mind:
  • Climate change - how this is affecting the world and how we should play our part
  • The pandemic - when advertisers found smarter ways to spend in a digital environment
  • Macroeconomic impact - the importance of navigating the market in light of macroeconomic changes and geopolitical conflicts
  • Misinformation and fake news (especially with elections coming) and how to deal with it
• In terms of consumer expectations, Michael revealed that:
  • 94% believe brands should promote sustainability
  • 57% of consumers prefer to see advertising on safe websites
  • 80% think misinformation sites should be avoided
  • 80% believe brands should promote diversity.
• He then shared that media tools are important to help manage quality. This includes brand safety and suitability measurement, viewability, and invalid traffic.
• He rounded this up by saying that industry alignment on the quality and assessment of tools is crucial. 

View the presentation here. 

What Does a Holistic Ad Tech Stack for Broadcasters Look Like?

It was then time to turn our attention to one of the industry’s most discussed and rapidly evolving channels - CTV and addressable television. With so many questions, panels, podcasts and conferences on this topic, we wanted to give it due care and attention by starting with a fascinating keynote from RTL Group.  Focusing on the recently announced tech cooperation between RTL Deutschland and ProSiebenSat1, RTL explored what it can do, how it opens up completely new performance dimensions in total video advertising for publishers, agencies, and advertisers, and what the future holds.

Speaker:

• Martin Hoberg, Chief International AdTech Officer at RTL Group 

Key takeaways:

• Martin opened his presentation by explaining that to create the right environment for cross-media ad products and to find a way to improve how the digital TV ecosystem and the linear TV ecosystem can work together, you need one holistic video advertising engine, and how this can be created by bringing the two corporations together.
• The main idea for the cooperation is to become one innovative leader for total video.
• He shared that both companies have the tools to measure and operate linear, addressable, connected TV and online video and can create stronger solutions by aligning their systems. 
• Finally, he revealed that the overall goal is to transform the ad system for greater efficiency, autonomy, synergies, and go-to-market strategies. 

Is TV Programmatic Buying Finally Going Mainstream?

To explore the wonderful world of TV further, our next session brought industry leaders together to address the rise of TV programmatic buying in Europe. To answer questions on how it’s growing and what will happen next, the panel explored the challenges and opportunities inherent in this evolving and often complex landscape and shared insights and practical examples of how TV buying is moving to the mainstream.

Speakers:

• Vincent Flood, Founder & Editor-in-Chief at VideoWeek (Moderator)
• Beatriz Pérez Montequi, Head of Sales Italy & Spain at Samsung Ads
• Anthony Katsur, CEO at IAB Tech Lab
• Adrien Masson, Head of Ad Tech Sales, Southern Europe at Amazon Ads 

Key takeaways:

• The panel opened by discussing how TV conversion varies by region. How addressable TV is bought in the U.S. differs from the European market, with Europe still mostly dedicated to CTV.
• On main challenges, the panel discussed the advertiser’s need for scale and reach and how to avoid ‘Zombie TV’ (i.e. when a TV is left on to stream but isn’t viewed by a person). Technology solutions, including the Tech Lab SDK, can detect things like Zombie TV so ads aren’t wasted. 
• Regarding programmatic setup, the panel discussed how greater connections between DSPs and the media agencies’ buying solutions enable more dynamic pricing to be used in programmatic guaranteed.
• They then discussed how traditional TV was typically restricted to bigger brand budgets and how real-time bidding (RTB) has helped democratise advertising for all. Now smaller local and bigger brands have access to the same programmatic systems and data - this is the beauty of programmatic TV.
• The panel finished up by discussing measurement and the potential of cross-screen measurement. They shared that if we want CTV to be successful, we need to get the measurement right. This enables the industry to rethink TV measurement and ensure consistency across platforms. 

After the Hype, is it Time for a Reckoning for Retail Media?

It was then time to move on to another high-growth channel - Retail Media. Much like CTV, Retail Media has captivated investors, journalists, and buyers in 2024. During this session, speakers teased out the answers to the much-asked questions on Retail Media. Reflecting on the current state of Retail Media in Europe and its future trajectory in digital advertising, they explored the hurdles we need to overcome to fuel growth and innovation and the key opportunities retailers as media businesses present to brands. 

Speakers:

• Marie-Clare Puffett, Industry Development & Insights Director at IAB Europe (Moderator)
• Kim Ludlow, Head of International Retail Media Sales (EMEA & APAC) at Microsoft
• James Allison, Director Market Development at Advertima
• Marco Magnaghi, Managing Director at GroupM Nexus, Italy
• Luis Gisbert Lobo, Head of Retail Partnership for Iberia and Italy at Unlimitail 

Key takeaways:

• The panel opened up by discussing that while there is hype around Retail Media it is still in a nascent stage.
• As an industry, they suggested that we are still at the beginning of the journey and need to understand Retailers first.
• Regarding the current challenges, the group discussed the importance of closed-loop reporting metrics and how different regions in EMEA are at different stages in their Retail Media journeys. They suggested that while the IAB is doing good things for standardisation, each market is different and that we need to recognise each market, retailer, and vertical and understand the assets to apply common standards. We need to ensure all environments are connected by data too.
• The group also discussed how Retail Media presents a massive opportunity to communicate to consumers in-store, and that the future lies in a full-funnel approach, and having a one-stop shop for Retailers.
• When asked whether Retail Media is on the road to a reckoning, speakers suggested that we need an omnichannel approach and to close the loop with more unified reporting and metrics to show brands why they should invest in this space. Transparency is key to this.
• To conclude this session, the speakers suggested it is not yet time for a reckoning as it is too early. We need to ride the wave for Retail Media in less developed markets and talk less and do more to make it happen.

Are Fading Signals Creating New Opportunities?

To round up the day we turned our attention to measurement. Welcoming Brand Metrics to the stage and setting the scene on measurement, this keynote explored the changing nature of campaign outcome data in shaping future strategies by drawing exclusive insights from 30k+ brand lift measurements. .

Speaker:

• Anders Lithner, CEO at Brand Metrics

Key takeaways:

• The presentation started by discussing how the industry has focused on data delivery in digital ad campaigns and how it mainly measures exposure (reach) and delivery (clicks).
• Anders then went on to say that we should also be able to measure the intermediary steps, which can be classified as brand-lifting elements, and that agencies should ask for brand-lift feedback data for all channels. 
• He then showed how the Brand Metrics tool runs brand lift measurement and demonstrated its scale.
• Across 25k campaigns the average brand lift results showed:
  • Brand awareness: 3,1%. – top performing: 5,7X
  • Brand consideration: 2,9% - top performing 7,4X.
  • Brand preference: 2,4% - top performing 6X
  • Action Intent: 1,7% - 3,9X

View the presentation here. 

Are We Measuring the Right Things?

And just like that, we were at the end of day one, and what better way to finish the day than by answering some of the arguable most important questions on measurement? To round everything up and leave our audience with the answers to what tools they should be using, panelists in the last session explored whether we are measuring the right things and what our focus should be on in terms of measurement as we move into a new era of digital advertising.

Speakers:

• David Cohen, CEO at IAB US (Moderator)
• Steve Lockwood, Head of Client Measurement at TikTok
• Mattia Salvi, CEO & Co-Founder at Aryel
• Nick Reid, SVP & Managing Director, EMEA at DoubleVerify
• Alice Beecroft, Senior Director, Global Strategy & Partnerships at Yahoo Advertising 

Key takeaways:

• The discussion started with the speakers sharing the KPIs they thought were most important to advertisers, with ROI taking the top spot. It was also highlighted that a continuation of measurement, from impressions and attention to outcomes as a whole, is also very important.
• The panel then went on to discuss how the use of reach and frequency are evolving and how the most sophisticated advertisers will look at both this and how it can drive ROI.
• Regarding what works well, the group discussed how the ability to measure media quality has evolved significantly and that the resources to measure marketing these days are incredible as we have endless tools available.
• When thinking about challenges, the group discussed fragmentation as the greatest source of frustration as there is no single way of measuring. This makes it more difficult to put budgets across channels.
• Diving a little more into AI, the group discussed how it can be used to enhance performance and agreed that it would be interesting to see how it helps improve measurement.
• David then asked how each speaker would change the industry if they had a magic wand. Answers included:
  • Removing any nuances with ad property to enable cross-media measurement 
  • Breaking down walled gardens to help enable standardisation
  • Ensuring a willingness to drive change in all environments
  • Simplifying processes 
• To round everything up, the panel played a short game of quick-fire word association. Here’s what they came up with on the spot:
  • MFA - Issue
  • Attention - Outcomes
  • Incremental reach - Opportunity
  • AI - Misunderstood
  • Attribution - Optimisation
  • Probabilistic - Deterministic 

After a jam-packed day of interactive and engaging content, attendees were invited to attend a networking cocktail reception to continue the great conversations and connections, and to celebrate with fellow attendees.

Check out the Day Two highlights here. 

Political Landscape:

According to the current political climate, the next European Parliament is expected to witness a significant increase in its centre-right and right-wing seats. Currently, the biggest parties in the European Parliament are the European People’s Party (EPP; centre-right, currently 179 seats) and the Progressive Alliance of Socialists and Democrats (S&D; centre-left, currently 141 seats). The third biggest party is Renew (currently 101 seats), which has a complex membership of mostly centre parties, including centre-left, centre-right and liberal factions. The Greens (centre-left, left-wing) slightly outweigh the European Conservatives and Reformists Party (ECR; right-wing). However, recent polls indicate that the rise of right-wing parties and sentiments in Europe may change this dynamic.

Although the EPP and S&D will likely remain the largest parties in the Parliament, the ECR (predicted 1  to obtain 72 seats ) and ID (Identity and Democracy, predicted to secure 66 seats) are likely to experience an increase in votes, while the Greens are expected to see a decline in support (predicted to secure 41 seats). This shift could influence future coalition-building, voting behaviour, and the Parliament’s own initiatives.

Despite many parties, including the Socialists, Greens, Renew, and Left parliamentary groups, signing a declaration calling upon all democratic parties to reject coalition-building or any alliances with the far-right , the EPP has refused to sign the declaration. Multiple national parties have signed agreements with far-right parties in their countries, such as the Renew equivalent (VVD) in the Netherlands. This is an important factor since the EPP will remain the largest party in the Parliament and could cooperate with the right-wing (ECR) and the far-right (ID) to secure a majority on new or ongoing legislation. This cooperation could support more "business-friendly" policies. 

Key Issues: 

Several key issues and pieces of legislation will shape the next mandate and be important to the digital advertising industry. For instance, the upcoming review of the GDPR will be a significant part of the next mandate. Although there is a general reluctance among policymakers to reopen the GDPR debate, there could be important changes or additions that impact the industry. IAB Europe submitted in January 2024 its feedback to the public consultation on the GDPR to represent members’ experiences, successes, and grievances with the law's application.

Another important aspect of the next mandate will be the implementation and enforcement of newly introduced legislation, namely the DSA, DMA, and the AI Act. Policymakers and the digital advertising industry alike are calling for the next Commission to invest time and resources into the efficient and harmonised enforcement and implementation of these regulations.

Additionally, the upcoming report on the Digital Fairness Fitness Check, an initiative launched in 2022 by the Commission to evaluate existing consumer legislation, will provide insights into whether these laws ensure an adequate level of consumer protection in the digital environment. This report will address issues such as dark patterns, personalization practices, and influencer marketing. Expected to be published in June, the report will also include main outcomes from the cookie pledge initiative.

Furthermore, rumours indicate that the Commission is likely to revisit the ePrivacy regulation in the next mandate. The pending proposal, which has been on hold for years already, will most likely be withdrawn and might come back in a different shape with a new proposal or multiple new proposals tackling different provisions within the ePrivacy directive. 

Candidate Profiles: 

The ‘Spitzenkandidaten’ procedure requires all political parties to nominate a candidate for the position of the Commission President. The following candidates have been nominated for the position: 

• Ursula von der Leyen (European People’s Party)
• Nicholas Schmit (Party of European Socialists)
• Sandro Gozi (Renew Europe Now)
• Terry Reintke (European Green Party)
• Walter Baier (Party of the European Left)

Many expect Ursula von der Leyen to remain in her post due to the predicted prominence of the EPP in the European Parliament. However, this remains to be seen, as the Commission President has to be approved by the Parliament by an absolute majority. Ms von der Leyen remaining in power could mean that the next Commission increases focus on the implementation and enforcement of the legislation introduced during the previous term. Other important personalities and posts to mention include Didier Reynders, the former European Commissioner for Justice, who has taken unpaid leave from his position to be a candidate for the position of Secretary General at the Council of Europe. 

Timeline after elections: 

As the elections are drawing near, here are some important key dates following the elections that will shape the EU’s next mandate’s trajectory. 

• 10 June onwards (no definitive deadline): formation of the political groups 
• 27-28 June: European Council meeting, where an agreement on the candidates for high-level posts such as the Commission President will be reached
• 18-19 July: First plenary of the new Parliament 
• September: Election of the Commission President
• December: The new European Council President takes office

 1 Polls conducted by Politico & Euractiv.

But as more focus and investment is poured into Retail Media a greater need for measurement and transparency is essential to ensuring its continued success.

IAB Europe’s Retail Media Measurement Standards for Europe have been created with this in mind to provide media buyers with a framework for consistent metrics to compare retail media investment. 

The Retail Media Measurement Standards were developed following consultations with retailers, and media buyers (brands and agencies) and cover the following areas:

• Primary Media Metrics (including viewability, IVT) to ensure digital retail media ads adhere to the same standards as other digital ads
• Attribution Metrics to ensure that brands can compare their advertising investments using a standard lookback window and iROAS definition
• Additional Retail Media Insights to further elevate the unique insights that retail media networks can provide such as ‘New to Brand’

The final Standards were produced following a public comment period between February and March 2024, where a wide range of industry stakeholders from across Europe provided feedback and insights to shape the final version. 

The full standards can be downloaded via the link below and you can access the FAQ document here. 

A huge thank you to the members of IAB Europe’s Retail Media Committee who contributed to and supported the production of these Standards.

Jessica Wegner, Vice President New Business & Retail Media at DOUGLAS Marketing Solutions commented on the importance of these standards: “In the advancing landscape of digital advertising, Retail Media emerges as a crucial media solution, yet its potential was hindered by challenges such as the lack of standardisation. According to IAB Europe research, only half of buyers currently recognise the efficiencies of Retail Media and seek consistent measurement and standards. To unleash the full power of Retail Media, addressing this critical gap through standardised measurement methods is paramount. Moving beyond traditional KPIs like ROAS or CPC, the focus on standardisation, particularly in media and attribution measurement, holds the key to unlocking its true efficiency.”

The Retail Media Measurement Standards were developed following consultations with retailers, media buyers (brands and agencies) and cover the following areas:

• Primary Media Metrics (including viewability, IVT) to ensure digital retail media ads adhere to the same standards as other digital ads
• Attribution Metrics to ensure that brands are able to compare their advertising investments using a standard lookback window and iROAS definition
• Additional Retail Media Insights to further elevate the unique insights that retail media networks can provide such as ‘New to Brand’

The full standards can be viewed here alongside the FAQ document here. 

Commenting on the need to equip retail media stakeholders with standards to help drive investment and market sophistication, Jason Wescott, Chair of IAB Europe’s Retail Media Committee, and Global Head of Commerce Solutions at GroupM said: “IAB Europe’s Q3 2023 Retail Media Standards Survey revealed a significant hurdle to investment: over two-thirds of respondents cited the absence of standards. In response, we convened fifteen top regional retail media firms in January 2024 to pioneer IAB Europe’s inaugural Digital Retail Media Standards. This initiative addresses the intricate landscape of onsite, offsite, and digital in-store media, alongside e-commerce and omnichannel commerce metrics. With diverse offerings from numerous retail media owners, achieving unity is paramount. The Retail Media Standards project is a cornerstone of our 2024 agenda, and this launching version marks a substantial stride toward harmonising and streamlining the region's industry for advertisers.”

Commenting on IAB Europe’s drive to support retail media across Europe, Townsend Feehan, CEO of IAB Europe said  “With the publication of the first set of European Retail Media Measurement Standards, we affirm our dedication and commitment to providing industry stakeholders with a robust framework that ensures consistency across the ecosystem and enables Retail Media to thrive.  These standards not only establish much-needed uniform metrics but also foster transparency, making room for greater innovation and investment in this space. I am excited to see how this pivotal step allows us to collectively drive Retail Media forward over the next 12 months and beyond.”

To access more information, industry education, and intelligence about Retail Media in Europe, please visit IAB Europe’s dedicated retail media hub on its website here. 

Description

The COO will ensure operational efficiency, transparency, and accountability across all of IAB Europe’s work-streams and instances.  He/she will own process development for annual planning and accountability, HR, finance, rhythm of the business of the Board, ExCo, and Industry Leadership Council, as well as oversight of the process for member retention and recruitment.  He/she will build a strong team with the CEO to ensure the organisation’s structure, operations, and business processes support and enable the delivery of a broad and diverse agenda of member- and industry-facing services and that there is good alignment at all times with the Association’s strategic priorities.  The COO will report to the CEO but work in partnership with the CEO to enable IAB Europe to identify and realise new opportunities to deliver value to members and the industry.   

Key responsibilities

• Project manage the annual planning process, ensuring timely preparation of a draft plan drawing on Committee work, team input, and the Board of Directors, as well as development of individual work plans and processes for performance assessment to ensure transparency, predictability, and accountability for the team and Board 
• Oversee and coordinate the preparation, execution, and follow-up of meetings of IAB Europe’s governance instances, including Board, Executive Committee, and General Assembly 
• Drive analysis of ‘ROI’ per member instance, helping the CEO match investment of HR and other resources to member and industry needs 
• Prepare a monthly track of the forecast spend against budget, to  ensure timely and accurate forecasting and reporting to the Treasurer and Board
• Oversee HR and employment processes including managing the recruitment and performance assessment processes. Facilitate the development of the remuneration framework and sense check that proposals for incentives matched to the strategic priorities of the association
• Facilitate and develop communications within the team to ensure strong alignment, effective contributions; plan, prepare, and assume responsibility for follow-up of semi-annual team offsite meetings 
• Partner with the CEO to manage the association risk registry
• Work with the CMO on planning & execution of annual membership surveys and ensuring that feedback is reflected in the next planning cycle 

Requirements

• Ability to navigate a commercially and politically complex, multi-stakeholder and multicultural environment smoothly and effectively
• Track record of success as a business operations leader, whether in a corporate, industry association, or political office setting  
• Demonstration of understanding of the regulatory environment, either nationally or at the EU level
• Adaptable, intellectually curious, with a critical thinker mindset 
• Ability to build productive and positive relationships across the association at all levels including both Board and executive levels based on exceptional interpersonal and networking skills
• Excellent communication skills, including excellent writing skills, fluency in English with good working knowledge and of a second EU language preferable
• A self-starter, motivated by solving hard problems
• Strong at driving alignment, managing time, and managing priorities
• Able to develop shared perspectives
• Able to drive results through indirect influence
• Able to shape end to end business programs with articulated missions, charters, performance criteria, and stakeholder buy-in

Compensation

The role is Brussels-based; compensation would be competitive, with annual bonus based on achievement of team and individual KPIs. 

Contact

Please send CV and expression of interest to jobs@iabeurope.eu, mentioning “COO role” in the email header.

As a reminder, the recommendations for standards are open for public comment until the 29th of March 2024. You can provide feedback by emailing retailmediastandards@iabeurope.eu 

Watch here

The recommended standards are now open for industry feedback until 29th March, and we invite you to send all comments to retailmediastandards@iabeurope.eu. 

The final standards will be released in April. 

The recommended standards were created following IAB Europe’s Retail Media Measurement Workshop, which brought together 15 retailers from across Europe at the end of January. The feedback was combined with ongoing discussions from IAB Europe’s Retailer Council and its Retail Media Committee and also recognises the progress made on the development of Retail Media metrics definitions in other markets (e.g. IAB US, BVDW in Germany, and ISBA in the UK).

The recommendations address the following areas:

• Primary Media Metrics (including viewability, IVT) to ensure digital retail media ads adhere to the same standards as other digital ads
• Attribution Metrics to ensure that brand are able to compare their advertising investments using a standard lookback window and iROAS definition
• Additional Retail Media Insights to further elevate the unique insights that retail media networks are able provide such as ‘New to Brand’

The standards document can be viewed below and the FAQ document can be found here for your reference. 

Want to learn more? Join us for a webinar at 15:00 CET on March 19th, where we will provide a deep dive into the standards that have been developed and invite you to share any questions you have. Find out more and register here.

As Retail Media continues to grow as an advertising channel, media buyers must have consistent metrics with which to compare their investments. In 2023, IAB Europe found that 70% of buyers cited the lack of standards for Retail Media as a barrier to investment, with media and attribution measurement being cited as the most important areas to address first.

The recommended standards were developed following IAB Europe’s Retail Media Measurement Workshop which brought together 15 retailers from across Europe. This feedback was combined with the ongoing discussions from IAB Europe’s Retailer Council and Retail Media Committee. 

IAB Europe also recognises that progress has been made on the development of Retail Media metrics definitions in other markets (e.g. IAB US, BVDW in Germany, and ISBA in the UK) and this work was used to form the basis for discussions within the Workshop. For example, IAB Europe’s recommendations incorporate most of the elements from the Now and Next sections of the ISBA “Responsible Retail Media Framework”. 

The recommendations address the following areas:

• Primary Media Metrics (including viewability, IVT) to ensure digital retail media ads adhere to the same standards as other digital ads
• Attribution Metrics to ensure that brands are able to compare their advertising investments using a standard lookback window and iROAS definition
• Additional Retail Media Insights to further elevate the unique insights that retail media networks can provide such as ‘New to Brand’

The standards document can be viewed here alongside the FAQs document. The recommendations are open for public comment until the 29th of March 2024. Please send your comments to retailmediastandards@iabeurope.eu 

Jason Wescott – Chair of IAB Europe’s Retail Media Committee, and Global Head of Commerce Solutions at GroupM commented on the development of the standards: “There is no clearer example of the importance of IAB Europe and our Retail Media Committee than this work on Retail Media Measurement Standards. Whilst a rapid increase in the number of retailer advertising offers is a wonderful thing for our industry, it has made planning and buying more complicated, with accurate comparisons across providers burdensome, if not impossible. 

We brought the region’s leading digital retail media businesses together to collaborate on a common set of standards that will not only ensure retailers can be consistent with existing digital media standards, but also encompass consistent, retail-centric, metrics spanning sales attribution and sales/consumer insights. This consistency will be a big step towards making the region’s industry more unified and accessible for advertisers. I’m excited to see the first version of these standards and for future iterations, as this channel will continue to evolve.”

Jessica Wegner, Vice President New Business & Retail Media at Douglas Marketing Solutions commented on the importance of these standards: “In the dynamic landscape of digital advertising, Retail Media emerges as a crucial media solution, yet its potential was hindered by challenges such as the lack of standardisation. Only half of buyers currently recognise its efficiency, seeking standards and regulations. To unleash the full power of Retail Media, addressing this critical gap through standardised measurement methods is paramount. Moving beyond traditional KPIs like ROAS or CPC, the focus on standardisation, particularly in media and attribution measurement, holds the key to unlocking its true efficiency.

As Retail Media continues to deliver remarkable results, the recent milestone of IAB Europe releasing the first European Retail Media Measurement Standards is a transformative step. This marks a future-changing development, emphasising the increasing acknowledgment of Retail Media's significance.”

Following the feedback process, IAB Europe will issue a first version of Retail Media Metrics and Measurement Standards for Europe. IAB Europe also intends to continue to work on developing standards for Digital Retail Media advertising with addressable areas including creative ad formats, brand metrics, and in-store measurement. 

IAB Europe will host a webinar on the 19th of March to provide a deep dive into the recommended standards and provide the opportunity for audience questions. Register to join the webinar here. 

To access any more information, industry education, and intelligence about Retail Media in Europe, please visit IAB Europe’s dedicated retail media hub on its website here. 

The Workshop convened to address a specific investment barrier - a lack of standards. 

The need to prioritise this challenge stemmed from a survey that IAB Europe conducted in 2023, which found that 70% of buyers cited the lack of standards for Retail Media as a barrier to investment, and media and attribution measurement were noted as the most important areas to address. 

The retailers represented at the Workshop were:

• Ahold Delhaize
• Allegro 
• Amazon
• Bol 
• Douglas 
• Dunnhumby
• ICA
• Just Eat
• Kleinanzeigen 
• Ocado 
• REWE
• Schwarz Media
• Tesco 
• Unlimitail 
• Zalando

Thanks to the support of McKinsey & Co. for hosting the Workshop at their offices, we enjoyed two days of rich discussion, debate, and alignment on retail media standards in the areas of primary media metrics, audience measurement, attribution windows and techniques, ad formats and specific retail metrics, such as new to brand. Discover what was discussed below.  

Day One 

The event kicked off with the IAB Europe and McKinsey teams explaining that the purpose of the workshop was to address one key retail media pain point -  standardisation of metrics and measurement methods. The aims of the workshop were  to:

• Gather insights and synthesise findings to inform recommendations on standards for retail media measurement
• Dedicate time to review and build a common perspective on retail media standards that will be put in place for RMN stakeholders
• Identify future items to discuss that will require further review due to their complexity or futuristic outlook 

The Workshop kicked off with a discussion around primary media metrics that have been standardised in other areas of digital media including viewability and IVT.  These are metrics that brands and buyers have come to expect as table stakes in other areas of digital media measurement. The key takeaways from this session were:

• It is important that retail media ads can be compared with other digital media using established metrics such as viewability and IVT
• Viewability is an important metric as the basis for reporting on all other metrics
• Established media metrics such as viewability and IVT filtration will help drive brand budgets towards retail media channels

The group then turned its attention to a discussion on audience measurement and whether there is a need to harmonise the definitions of audiences in retail media networks (RMN). A couple of insights on audience measurement were:

• The need for brands to be able to build custom audiences
• The need for transparency into what makes up an audience 

A well-debated topic was then addressed - the Attribution Lookback Window. A Lookback Window is the period of time after an ad is clicked or viewed within which a conversion can be attributed, or matched, to the ad (definitions source: IAB Europe’s Retail Media Glossary). From our initial conversations with various brands, it is clear that they are looking for a stake in the ground to compare apples to apples but also the desire for flexibility to allow brands to normalise the Return on Ad Spend (ROAS) number they are being provided with. The group debated the different approaches to lookback windows and the importance of providing flexibility to brands. The consensus on this will be shared with the industry for feedback soon.

The end of day one concluded with a session on Halo Attribution, which is an additional measurement technique to direct attribution / ROAS and provides a more holistic view of the consumer journey, allowing advertisers to better understand which types of ad interactions are contributing to driving sales. Key considerations on Halo Attribution were:

• Brands need to be able to tell retailers what they are looking for in terms of Halo Attribution
• Halo Attribution can be enabled on and off-site using different product and category-level SKUs

Day Two

Day two kicked off with a working breakfast during which IAB Europe’s Chief Economist, Daniel Knapp, explored what the changing investment logic of advertisers means for retail media. Key takeaways included:

• Advertising will continue to grow but it will not defy gravity
• Revenue pressures are accelerating the move to digital advertising
• There is a need to offer outcomes and not just audiences - retail media has made some progress in this but advertisers seek more. 
• Retail media is a central evolution in the business model between retailers & manufacturers 

After this insightful presentation, the Workshop turned its attention to more advanced metrics that are specific to retail media. 

We kicked this off by looking at incrementality measurement methods. Incrementality represents the causal impact of marketing and is linked to outcomes, like sales or attributed to advertising campaigns or exposures. The key takeaways were:

• There are various models and data available that can be used to calculate incrementality 
• The metrics which are used to determine the method need to be addressed in the first instance

The group continued the conversation by discussing retail media specific metrics including New to Brand, Category Market Share, and Category Change. Key takeaways included:

• New to Brand timeframe can vary depending on the product type and the frequency with which it is bought
• Category Benchmarks need to be based on an agreed metric or set of metrics

In the last session of the day, the group turned their attention towards Creative Ad Formats, as it has become clear that ads on retail sites do not follow any specific standard. The key takeaways here were:

• The current standard IAB ad format specifications aren’t always fit for purpose for ads on retailer sites, due to them being either too small or too big (i.e. rising stars take up a lot of real estate)
• Standards for retail media ads need to be explored and discussed with the buy-side 

Summary

Overall, the Workshop acted as a pivotal moment and a key starting point for the industry to come together kick-off the development of pan-European Retail Media standards.

Justin Sandee, Director Commercial Development at Bol.com attended the Workshop and said: "In the convergence of retail, ecommerce and media, industry leaders engaged in constructive and pivotal discussions on standardising retail media measurements during the two day Workshop. In my opinion, this marks a significant stride towards the maturation and professionalisation of this influential and crucial media channel, epitomising a collective commitment to elevating industry standards and driving impactful strategies forward."

Maurits Priem, VP Monetisation Europe & Indonesia at Ahold Delhaize also attended and said: “We enjoyed sharing experiences with peers during the workshop; conversations were stimulating, educational and relevant. We covered many topics and had fruitful, at times extensive discussions, since participants came from various retail organizations, in different retail media phases. We sensed a shared responsibility to make steps to further professionalize the Retail Media industry, in the interest of our clients, the advertisers and agencies.”

The outcome of the workshop was an initial set of recommended standards for retail media metrics and measurement. A document outlining the recommendations will be published as an initial draft for industry feedback within the next month. 

The development of Standards for Retail Media Advertising in Europe is a key focus of the IAB Europe Retail Media Committee work plan. This multi-stakeholder Committee brings together retailers alongside leading Retail Media businesses in Europe to advance and shape the future of this exciting digital advertising space and has already produced valuable resources including pan-European definitions, the first-ever industry association-led Retailer Digital Advertising Capability Map a Retail Media Glossary. You can find all of these resources and more on IAB Europe’s Retail Media Hub here. 

Another attendee, Henri Gentis, Global Head of Retail Media, JustEat Takeaway commented: "It was great to see experts brainstorm ways to measure success in retail media. We're making the whole system better and more professional, which is great for everyone involved. Plus, we learned about the latest trends and how to tackle upcoming challenges. Standardisation will make it so much better for brands to assign budgets to retail media and could be a game-changer for participants."

To find out more about the committee’s work and how you can get involved please contact IAB Europe’s Industry Development & Insights Director, Marie-Clare Puffett.

A big thank you to the following contributors for sharing their thoughts:

• Diana Abebrese, Global Retail Media Lead, EPAM Systems
• Martin Svarc, IAB Slovakia Representative and CCO, Crxuo
• Larisa Dumitru Head of eCommerce EMEA, GroupM Nexus
• Babs Kehinde, Senior Director, Commerce Media EMEA, PubMatic 

Q1. What are the top two considerations for retailers thinking about building a Retail Media proposition?

Diana:

Start by understanding your customer journey and building a unique proposition to deliver relevant touch points across the journey. Often this will differ by product category, channels, audience segment, store formats, and seasonality. The proposition should improve not detract from the overall customer journey with customer experience always front of mind. Pricing strategy should reflect the role in the customer journey but also consider market rates; demand v supply; category and product profitability and cost of sale.

Secondly, make it easy for your internal teams and advertisers to plan, buy, and measure an end-to-end Retail Media campaign across each touchpoint - this is likely to be a different solution for each retailer, and their target markets (brand advertiser v agency v long-tail supplier v a JBP (Joint Business Plan) supplier with a media commitment aligned to their trading activity). The key is to create a streamlined user journey and enable a single view of the campaign activity through APIs and custom integrations where necessary.

Martin: 

When retailers build a Retail Media proposition, they should prioritise two key considerations. First, they need to assess their audience and data assets, leveraging valuable first-party data and understanding the size, demographics, and interests of their audience. Second, retailers must develop a solid monetisation strategy, exploring different pricing models and ensuring a seamless integration that enhances the customer experience. Additionally, they should consider factors like technology infrastructure, partnerships with brands and agencies, competition analysis, and compliance with privacy regulations. A comprehensive approach to these considerations will help retailers build a successful and profitable Retail Media proposition.

Larisa:

First, have clarity on the go-to-market model: are you building your own Retail Media proposition in-house? Are you working with a third-party? Are you selling through a retailer media network such as Criteo? Will it all be self-service? Will you also offer managed service? We see many retailers working with a plethora of partners, which creates a lot of confusion for brands and agencies. I’m all for testing and learning, but I do believe retailers need to be very clear on the partner ecosystem.

Secondly, make it easy for advertisers to buy into your Retail Media offering – be clear on the unique selling points, on the pricing, on the ways of working.

Babs:

When retailers consider building their own Retail Media proposition, they should firstly initiate internal alignment to clearly define the value they offer to advertisers. This involves fostering collaboration across teams and business units to efficiently develop a viable solution. Additionally, retailers should prioritise effective use of customer data by investing in data technology solutions for storage, management, analysis, and activation of audience segments. Without a robust data infrastructure, competing in the realm of data-driven advertising becomes challenging. 

Furthermore, Retail Media thrives on collaboration. Retailers should engage in strong partnerships with brands and agencies, ensuring their proposition is attractive and accessible. Retailers need to understand their new partners' needs and goals and provide the best tools and solutions to align with strategic objectives. Lastly, retailers should be open to working with third-party technology providers to aid them in their Retail Media endeavours. The development of these retailer-technology partnerships is vital to the growth as well, as it makes it easier for smaller, vertical-specific retailers to enter the market and compete on a level playing field with the larger players.

Q2. What challenges should they be aware of?

Diana:

There are many! 

• It’s very easy to jump on the next shiny product bandwagon, but how do you ensure it is future-proofed?  Can it adapt to the potential needs of tomorrow - standardisation, growing market demands,  new buy types/ KPIs, new DSPs? Due diligence around this is something that often gets overlooked, rendering a part of the proposition redundant very quickly.
• More inventory/new products does not always mean more revenue. It can sometimes mean better (more profitable/ higher performing) revenue, replacing existing investment into other products. Manage expectations internally when building business cases and invest time in training and GTM around media planning and optimisation automation.
• When building a proposition, retailers will generally have to integrate with some 3rd party platforms. Be aware of buying into solutions, where you are told that it's a simple integration - “we just need to add a simple tag on the site.” It is rarely that simple - and you will have to jump through multiple hoops internally - business case, testing, securing dev time - before this can even be considered.

Martin: 

Retailers can build the case internally for a Retail Media proposition by highlighting the benefits of collaborating with trusted partners who have experience in this domain. They can emphasise that partnering with established experts avoids reinventing the wheel and accelerates the process of launching a successful media proposition. By showcasing the potential revenue streams, enhanced customer experiences, and the opportunity to strengthen brand partnerships, retailers can make a compelling case for internal stakeholders, demonstrating that leveraging trusted partners is a strategic and efficient approach to building a thriving Retail Media proposition.

Larisa:

In Europe, the Retail Media market is expected to be valued at 25 billion EUR by 2027 – that number in itself is a good starting point when trying to convince internal stakeholders to launch a Retail Media proposition. For retailers, I believe it’s less a case of why and more a matter of how and when. Bringing everyone to the table and ensuring that all interests are equally represented (trade & shopper, marketing, content, sales, etc) will be key in ensuring a holistic Retail Media proposition and it’ll make it easier for agencies and brands to buy into it.

Babs:

When persuading their internal teams, Retailers must remember they’re not just selling an idea but are telling a compelling story that aligns with the team’s goals and values and the significant growth opportunity for their organisations. A few things to bear in mind are: 

• Speak the language of value: Link the proposition to the company goals, focusing on incremental revenue and customer engagement outcomes. 
• Show don’t just tell: Use real data to illustrate the benefits of Retail Media for the business. 
• Address scepticism head-on: Answer any doubts and concerns with clear evidence. Be transparent and honest. 
• Map out the road ahead: Explain the steps, resources, and timeline needed to make the proposition a reality. 
• Get champions on board: Get support from key stakeholders who can influence and overcome resistance. 

Q3. Can you share two top best practices for retailers?

Diana:

1. Conduct a proposition audit every six months to assess how it is delivering against your business strategy. Build a framework that highlights gaps in the current portfolio, reviews competitor propositions, reviews the performance of each placement - STR, pricing, ease of implementation, ROAS, impact on site yield, and considers qualitative feedback - internal and customer. 
2. Stay connected with the industry as it is so fast-moving. Keep talking to vendors and partners. Score and group innovation ideas into buckets such as - Do Now; Never; Yes but Not Yet; and Needs more Consideration. Continue to review quarterly.

Martin: 

1. Adopt a step-by-step approach: Rather than spending extensive time on forming a comprehensive strategy, retailers should take an iterative approach. Consider utilising an existing technology or platform to build a first proof of concept. Deliver tangible results, evaluate performance, and learn from the outcomes. This incremental approach allows for adjustments and optimisations along the way, leading to a more effective and efficient Retail Media proposition.
2. Simplify and expand the offering: Leverage existing platforms that simplify the complex process of vendor marketing. Streamline the management of vendors and extend the offering to both endemic and non-endemic vendors. By combining trade marketing and branding budgets, retailers can create an attractive proposition for brands and their agencies. Retail Media uniquely captures the complex customer journey from first impression to repeated conversion, providing a comprehensive channel for brands to engage with their customers.

Larisa:

1. There is so much noise at the moment in the industry and so much fragmentation, so make it easy for your external stakeholders to understand your Retail Media proposition – everything from the pricing model to the placements and creative opportunities. 
2. Showcase the incremental value that your Retail Media offering is bringing to the table – offering a ROAS metric based on last-click attribution doesn’t cut through the noise anymore. Brands need to know that the money invested in Retail Media will bring in incremental sales and new to brand audiences and they want to be able to properly track and measure those results.

Babs:

1. Prioritise the customer journey - Use Retail Media to enhance the customer experience at every stage, from raising awareness to establishing loyalty. By leveraging customer data, retailers can deliver relevant and personalised ads that match the customer’s needs. Measuring the impact of your Retail Media campaigns on customer metrics, such as satisfaction and lifetime value can help gauge their effectiveness 
2. Innovate and differentiate - Use your unique assets, such as your own products, services, content, and channels, to create distinctive and compelling Retail Media solutions. Experiment with new formats, on-site and off-site technologies, and partnerships, to offer more value and variety to your advertisers. Create a Retail Media proposition that reflects your brand identity and values, and that resonates with your customers and advertisers.

When a concept such as Artificial Intelligence (AI) resurfaces in Media, we as a collective community tend to laser focus on the emerging topic. We strive to decipher ‘our’ position, through a matrixed lens that aligns with both corporate and personal beliefs. Cookie deprecation, Attention metrics, custom algorithms and hybrid working are themes that we have communally debated over the last few years. AI is the current thought-provoking subject matter, sending us down the rabbit hole of internalised contemplation. Our cerebration leaning towards questions such as, how does this trending concept affect my role and my team? What impact does this have on our company? What is ‘our’ POV, how do we stay ahead of the curve? How do I effectively communicate this to my customers, and is this a subject that they actually care about? 

The truth is that AI is an old trusted friend within digital advertising, and should not be sending us into a collective state of hyper-consideration. It has underpinned product R&D for the last two decades and has been fundamental within programmatic interoperability, since its conception. Whilst AI in its most recent iteration, will increasingly remove the heavy lifting across programmatic trading and optimisation, there are always going to be elements that require human centricity and hands on interaction.

DoubleVerify (DV) leverages AI for ontological content classification and fraud analysis as there's just too much data out there for humans in silo to process or react to it as fast as AI with machine learning and machine execution. Our recent partnership and acquisition of Scibids, underpins our belief that custom AI driven algorithms are the future of our industry when it comes to driving quality media, performance and quantifiable outcomes. AI is required for any multivariate programmatic buying - as in weighing multiple data points and data sources against each other to figure out what inventory to buy, at what price with maximum potential for optimisation. Volume of data is a key factor for the use of AI, but campaign complexity and the human-resource it takes to manage multiple campaigns on an ongoing basis is a driver as well. Putting aside the increase in performance or decrease in cost, traders can very easily find themselves in a position where they could generate the insights, but not have time to analyse the data effectively or action data driven decisions off the back of their analysis. DV Attention solutions are another example where Scibids AI streamlines programmatic optimisation towards high-attention creatives for our brand and agency partners. This approach supports a more data driven dialogue between brand stakeholders and their creative agencies.

When it comes to attribution, 'success' needs to be meticulously defined. Whilst we still come across CTR, CPC and CPA campaigns on lower funnel attribution, complex bespoke metrics around quality, attention and outcomes have become increasingly commonplace on mid to upper funnel activity. Tying this complexity back across the whole customer journey, manually, is a non-option. Paradoxically, using non-traditional emerging AI driven attribution models, was always going to create an element of scepticism, before trust was built with all parties across the transaction; both supply side and demand side. The value exchange between the maturation of AI and advertiser performance has burned bright in recent years. Taking their favourite outcomes data sets, such as purchase data, and feeding it seamlessly into programmatic models throughout the funnel, has defined success, meticulously…. 

Can AI go one step further in 2024 to solve the sustainability conundrum, regarding how we balance green media at the potential detriment of campaign performance? Is there enough sustainable inventory, and what are the real-world implications on investment, benchmarking and media CPMs. For me, next year will be when sustainable prioritisation will be high on the agenda. AI optimised programmatic investment in the open market (OMP) is where we will define the status quo and green-scale. 

All things considered, AI ubiquity does not mean that we as an industry are sacrificing human or customer centricity in favour of a simulation of human intelligence between programmatic systems. AI cannot and will never replace customer service, customer satisfaction, human interaction or relationship building. People still buy into people, and whether consciously or subconsciously, base part of the decision making, regarding whom they want to partner with, on chemistry, relationships and friendship. As it should be.  

About DoubleVerify

DoubleVerify (“DV”) (NYSE: DV) is a leading software platform for digital media measurement and analytics. Our mission is to make the digital advertising ecosystem stronger, safer and more secure, thereby preserving the fair value exchange between buyers and sellers of digital media. Hundreds of Fortune 500 advertisers employ our unbiased data and analytics to drive campaign quality and effectiveness, and to maximise return on their digital advertising investments – globally. Learn more at www.doubleverify.com.