Publicis Sapient has announced a collaboration with Google Cloud to launch a Retail Media Network (RMN) Accelerator. This deal will empower clients to drive substantial revenue from bespoke advertisements on both digital and physical platforms while elevating customer engagement and experience.
The RMN Accelerator harnesses an Industry Value Network (IVN) partnership between Google Cloud and Publicis Sapient. This joint venture blends the individual offerings of Publicis Sapient, its holding company Publicis Groupe, and Google Cloud. The Power of One, Publicis Groupe's fusion of systems integration and media agency capacities, will be operational across Google Cloud and the Google Marketing Platform.
John Costello, Chief Technology Officer - Australia, Publicis Sapient, welcomed the initiative. He pointed out the importance of the retail media category. "Morgan Stanley predicts the retail media category in Australia will grow to $2.8 billion by 2027 from $1 billion. In a sector growing 23 per cent a year, some Australian brands risk being left behind. This is why we think this accelerator will help local brands move more quickly to take advantage of the retail media opportunity."
The revolutionary RMN Accelerator enables retailers to monetise consumer and product data by setting up an advertising platform on their digital and physical properties. It can be perceived as a higher-value solution that accelerates the time-to-value for clients. Also, it establishes the basis for a Retail Media Network and lowers the barrier to entry for retail media networks to broaden their influence across large and long-tail advertisers.
"We are excited to expand our global partnership with Google Cloud through the Industry Value Network (IVN) program. The Retail Media Network Accelerator is a key step in our collective journey to drive digital business transformation for our joint customers," expressed Randall Orbon, Executive Vice President, Strategy & Consulting at Publicis Sapient.
The collaboration leverages Publicis Sapient's domain retail expertise and AI technologies in conjunction with Google Cloud's capabilities. Amy Eschliman, Managing Director of cloud Retail Industry Solutions at Google Cloud, clarifies, "Through our joint capabilities, enterprises will have access to industry-leading experts that will enable them to generate, and quickly grow, new revenue streams."
The RMN Accelerator is ideally positioned to support brands in making their RMN platform accessible with robust measurement, insights, and self-service facilities. It will also provide media planning activation and automation for both direct advertising and media network-based advertising. This comprehensive solution includes an omnichannel web application and dashboard, a generative AI-enabled audience explorer, post-campaign wrap-up reports, and a robust blueprint to scale a retail media network.
The RMN Accelerator also entails long-term opportunities for diversification beyond retail to other industry networks, like travel, hospitality, automotive, and QSR. It is a testament to the ongoing commitment of both Publicis Sapient and Google Cloud towards exploring digital business transformation for a collective clientele.