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Today (February 29, 2024) IAB Europe, the leading European trade association for the digital marketing and advertising ecosystem, has published its first set of recommendations for digital advertising metrics and metrics for retail media in Europe. The recommendations are open for industry comments and feedback and will help shape the final standard, expected to be released in April.
As retail media continues to grow as an advertising channel, media buyers must have consistent metrics to compare investments. In 2023, IAB Europe reveals that 70% of buyers cite lack of standards in retail media as a barrier to investment, with media and attribution measurement as the most important area to address first. I made it.
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 ongoing discussions at IAB Europe’s Retailer Council and Retail Media Committee.
IAB Europe also noted that progress is being made in developing definitions for retail media indicators in other markets (e.g. IAB US, BVDW in Germany, ISBA in the UK) and that this work will form the basis of discussions within the workshop. I am also aware that it was used to For example, IAB Europe’s recommendations incorporate most of the elements of the current and upcoming sections of ISBA’s Responsible Retail Media Framework.
Recommendations address the following areas:
- Key media metrics To ensure that digital retail media advertising (including viewability, IVT) adheres to the same standards as other digital advertising;
- Attribution metrics To enable brands to compare advertising investments using standard lookback windows and iROAS definitions
- Additional insights on retail media To further enhance the unique insights that retail media networks can provide, such as “Brand Newbies.”
The standard documentation can be found here along with the FAQ documentation. This recommendation is open for public comment until March 29, 2024. Please send your comments to retailmediastandards@iabeurope.eu.
Commenting on the development of the standard, Jason Wescott – Chair of the IAB European Retail Media Committee and Global Head of Commerce Solutions at GroupM, said: standard. The rapid increase in the number of retailers’ advertising offers is great for our industry, but it also makes planning and purchasing more complex, if not impossible, to make accurate comparisons between providers.
We bring together the region’s leading digital retail media companies to ensure retailers not only have consistency with existing digital media standards, but also a consistent retail focus across sales attribution and sales/consumer. collaborated on a common set of standards covering the following indicators: insight. This consistency would be a major step toward making the region’s industry more integrated and more accessible to advertisers. As this channel continues to evolve, we look forward to seeing the first and future versions of these standards. ”
Jessica Wegner, vice president of new business and retail media at Douglas Marketing Solutions, commented on the importance of these standards: “In the dynamic landscape of digital advertising, retail media has emerged as an important media solution, but its potential lacks standardization.Currently, only half of buyers are aware of its efficiency, and standards and We’re calling for regulation. Addressing this critical gap through standardized measurement methods is paramount to unlocking the full potential of retail media. Going beyond traditional KPIs like ROAS and CPC. A focus on standardization, especially in media and attribution measurement, is key to unlocking true efficiency.
As retail media continues to achieve impressive results, the recent milestone of IAB Europe’s publication of the first European Retail Media Metrics Standard is a transformative step. This marks a future-changing development and highlights the growing awareness of the importance of retail media. ”
Following a feedback process, IAB Europe will publish the first version of its retail media metrics and metrics for Europe.
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