French marketplace solution provider Octopia has launched a brand new product, called Octopia Ads. It’s the corporate’s own retail media solution. It enables retailers to implement a sponsored search solution for his or her products (1P) and sellers and types products (3P).
Octopia is an answer for ecommerce businesses seeking to launch a brand new marketplace, boost an existing one, sell on multiple marketplaces, or outsource logistics. In keeping with the corporate, it generates 50 percent of its business internationally. It has greater than 30 clients across 11 different countries.
The corporate offers access to a certified catalogue of 15K sellers and 80 million products, and success solutions. In 2023, Octopia expanded its business to the UK. With a brand-new warehouse and office within the UK, the corporate signed its first marketplace client Onbuy.
Sponsored products on marketplaces
Last month, IAB Europe released a set of measurement standards for retail media in Europe. Retail media continues to be a comparatively recent phenomenon. It entails promoting space for retailers. Marketplaces like Amazon and the French ecommerce leader Cdiscount often sell ad spaces of their product search results.
‘Sponsored products can increase a brand’s sales by a median of 30%’
In keeping with research by NielsenIQ, sponsored products can increase a brand’s sales by a median of 30 percent. As web shoppers often start their search on marketplaces, it may well be of serious help to brands and sellers if they convey these products to the eye of marketplace customers.
Managing paid visibility in a single place
With Octopia Ads, sellers and types can manage their paid visibility on marketplaces, optimizing their sales efforts with targeted promoting. Sellers can set their very own budgets with goal CPCs (costs per click) and goal ROAS (returns on ad spend). The answer might be integrated with marketplaces. By doing so, the answer helps sellers automate retail media campaigns. This protects sellers time, as they sometimes offer several hundred products and do not need the time to fine-tune their campaigns.
‘Due to automated ad campaigns, sellers can now promote products with little manual input.’
“Octopia Ads was created to permit retailers and sellers to run self-managed campaigns. Due to automated ad campaigns, sellers and types can now promote their products on marketplaces with little manual input”, shares Marina Prevosto, Growth and Marketing Director at Octopia.
Ambitions this yr
In 2024, the corporate desires to successfully roll out the brand new solution, securing additional clients in Europe. It also wants Octopia Ads to turn out to be a key player within the retail media space, specifically tailored to marketplaces.
