On the heels of a pivotal start to 2021 with 267% year-over-year revenue growth and an infusion of $60M in Series C funding, CommerceIQ is deep into Q3 with the release of Market Insights for Amazon, Walmart, Instacart, Kroger, Target and a full list of other retailers. This new module builds on the omnichannel capabilities launched for CIQ Advertising in May and is the latest in a string of omnichannel-related product enhancements to come that help brands drive further ROI from their CommerceIQ investment. Market Insights provides Digital Shelf Analysis, Competitive Analysis, Market Analysis, SKU Search Ranking and Retailer Support.
Ask any brand or industry analyst and they will tell you retail media is booming. According to Forrester’s Now Tech: Retail Media Solutions report, which prominently included CommerceIQ, brands spent $5 billion last year on retail media networks such as Amazon, Target, Walmart, and others. Within the digital marketing arena, Forrester says the topic of retail media has prompted more questions in the past 12 months than any other subject.
During Prime Day the benefits of CommerceIQ for retail media came to life, generating a 14% higher return on ad spend leading to more than six times the lift in sales for our customers than the reported average. The secret sauce is CommerceIQ’s ability to identify which digital shelves maximize brand performance on a particular retail channel, measure share of voice against competition and provide assortment, and activate merchandising and retail aware advertising opportunities across all online retailers.
Market Insights takes CIQ Advertising’s omnichannel retail media capabilities to the next level. From a single dashboard, brands get an omnichannel perspective of their performance across retailers and actionable data points they can use to drive online advertising decisions across the board, including:
- A one-stop shop for omnichannel market insights and single source of truth for managing ad spend online
- Share of Voice measurement – the leading performance indicator across all retailers
- Actionable insights for driving share of voice, ad investment and combating competitive actions
But don’t take our word for it. CIQ Advertising’s ability to connect different levers of growth such as supply chain, advertising, promotions, pricing and content, and using share of voice to gauge brand performance won the attention of independent Steve Awards judges who honored CIQ Advertising last month as Best E-commerce Solution.
See for yourself how Market Insights can help your brand by requesting a demo today and learning more about CIQ Advertising.