Last year, I wrote about Skai’s Brand Insights, a tool within Skai’s Retail Media solution that tracks the SOV (share-of-voice) for your brand and your competitors visualized with an easy-to-read dashboard.
Since then, Skai’s product team has been hard at work enhancing this feature’s breadth and scope to bring the industry Competitive Insights, a more powerful evolution of our share-of-voice offering to market.
Understanding the competitive landscape is a critical need for marketers
At the turn of the century, paid search marketers soon realized that managing their ads in a vacuum wasn’t the right approach. Optimizing their programs solely based on their campaigns’ KPIs—without a holistic understanding of what was happening on the SERP (search engine results pages)—limited their total program performance.
They needed a deeper look into the SERP for their paid search ads and the organic listings for all of their most important keywords. And even more importantly, they also needed this same information on their competitors to compare and improve. This data helps them navigate these incredibly dynamic environments and guide better optimization decision-making.
This isn’t just a paid search problem. All marketing channels require a clear picture of the competitive landscape.
And that includes today’s third-largest channel, retail media advertising, which eMarketer now forecasts US ad spending to jump in the channel by 31.4% to $40.81 billion this year. As retail media continues to grow, marketers will be hard-pressed to efficiently scale without the competitive intelligence to find the gaps and opportunities within their programs.
Skai’s Competitive Insights is a game-changer for retail media marketers
Marketers are always looking for ways to better understand where they stack against the competition to strategize competitive conquesting and win more market share. They want to learn who the emerging and constant brands infringing on their market share are so they can take action to protect their visibility.
Within retail media, brands must constantly track their share-of-voice—specifically product and brand visibility on retailers’ digital shelves. This is sometimes a manual process, which often requires too much time and guesswork. SOV tools are also often disconnected from campaign management tools, making the insights less actionable and more difficult to implement change. The bottom line is that advertisers want their SOV metrics on-demand and connected to their tech stack so that they can take action as soon as possible.
Retail media advertisers who use Skai’s Competitive Insights will have a market advantage against their peers with a more granular and customizable dashboard than they’ve ever had before. It provides easy-to-read SOV visualizations with competitive analysis at several levels and offers a more explicit look at where their brand, products, and keywords stand in comparison to defined competitors.
Skai clients can customize their Competitive Insights dashboard across Amazon, Walmart, and Target to track top competitors for insights that truly matter. By drilling down into keywords, placement, and brands, marketers can understand their share-of-voice at one glance and take action to win market share across the retailer’s digital shelf.
What kinds of powerful analysis can I perform with Competitive Insights?
Knowing your share-of-voice and that of your competitors is the level of transparency retail media marketers need to drive program optimization that truly moves the needle.
- Identify changes in my brand’s SOV for various keyword categories (for example – brand\non brand)
- Track my brand’s SOV compared to my competitor’s SOV over time
- Track my brand’s average position compared to my competitor’s average position over time
- Identify changes in keyword competition SOV at the category and single keyword level
- Understand the relationship between total organic SOV and total paid SOV for all brands
- Identify the change in the competitor’s SOV for a selected time period
- Identify the change in the competitor’s average position for a set time period
- Identify changes in top-of-page SOV and positions
- Track changes according to the page section
- Track changes in the top 5 positions
These are just some of the common share-of-voice competitive analyses enabled with Competitive Insights.
Ready to take your retail media programs to the next level with Skai?
Competitive Insights is just one of many extremely useful tools within Skai to help marketers automate, optimize, and scale their retail media performance.
As part of Skai’s omnichannel marketing platform, our Retail Media solution empowers brands to plan, execute, and measure digital campaigns that meet consumers when and where they shop. Built with best-in-class automation and optimization capabilities, our unified platform allows you to manage campaigns on 30+ retailers including Amazon, Walmart, Target, and Instacart all in one place.
For more information, please schedule a brief demo to see Competitive Insights and other retail media functionality for yourself.