French market answer supplier Octopia has launched a brand new product, referred to as Octopia Advertisements. It’s the firm’s personal retail media answer. It permits retailers to implement a sponsored search answer for his or her merchandise (1P) and sellers and types merchandise (3P).
Octopia is an answer for ecommerce companies trying to launch a brand new market, enhance an present one, promote on a number of marketplaces, or outsource logistics. In response to the corporate, it generates 50 % of its enterprise internationally. It has greater than 30 purchasers throughout 11 completely different international locations.
The corporate presents entry to a professional catalogue of 15K sellers and 80 million merchandise, and achievement options. In 2023, Octopia expanded its enterprise to the UK. With a brand-new warehouse and workplace within the UK, the corporate signed its first market consumer Onbuy.
Sponsored merchandise on marketplaces
Final month, IAB Europe launched a set of measurement requirements for retail media in Europe. Retail media remains to be a comparatively new phenomenon. It entails promoting house for retailers. Marketplaces like Amazon and the French ecommerce chief Cdiscount typically promote advert areas of their product search outcomes.
‘Sponsored merchandise can improve a model’s gross sales by a median of 30%’
In response to analysis by NielsenIQ, sponsored merchandise can improve a model’s gross sales by a median of 30 %. As internet buyers typically begin their search on marketplaces, it may be of great assist to manufacturers and sellers if they bring about these merchandise to the eye of market prospects.
Managing paid visibility in a single place
With Octopia Advertisements, sellers and types can handle their paid visibility on marketplaces, optimizing their gross sales efforts with focused promoting. Sellers can set their very own budgets with goal CPCs (prices per click on) and goal ROAS (returns on advert spend). The answer could be built-in with marketplaces. By doing so, the answer helps sellers automate retail media campaigns. This protects sellers time, as they normally provide a number of hundred merchandise and would not have the time to fine-tune their campaigns.
‘Due to automated advert campaigns, sellers can now promote merchandise with little guide enter.’
“Octopia Advertisements was created to permit retailers and sellers to run self-managed campaigns. Due to automated advert campaigns, sellers and types can now promote their merchandise on marketplaces with little guide enter”, shares Marina Prevosto, Development and Advertising and marketing Director at Octopia.
Ambitions this 12 months
In 2024, the corporate desires to efficiently roll out the brand new answer, securing further purchasers in Europe. It additionally desires Octopia Advertisements to grow to be a key participant within the retail media house, particularly tailor-made to marketplaces.