Retail Media Networks (RMNs) are undoubtedly one of the hottest topics in advertising right now, with US spending expected to hit $45.15 billion this year and more than doubling to $106.12 billion by 2027.
While massive, this growth shouldn’t be a surprise, considering the treasure trove of first-party data (specifically purchasing data) that RMNs have access to. Virtually any e-commerce operation — from airlines and ticket sales to Shopify stores — has valuable data that can be leveraged to create more impactful ad experiences.
But because of the finite availability of on-site search inventory among RMNs, leveraging off-platform targeting is going to play an important role in future growth. This is especially true with premium environments such as CTV, which can combine the most impactful screen in the home with high-fidelity RMN data to power full-funnel capabilities.
So when global financial powerhouse Intuit launched its SMB MediaLabs RMN, it tapped VIZIO as its exclusive CTV partner — a foundational component of its curated set of media partnerships. Additionally, Intuit will be working with preferred channel partners, including Meta for social networks.
As the technology company behind QuickBooks, TurboTax, Credit Karma and Mailchimp, Intuit’s SMB MediaLabs is providing advertisers with access to one of the more elusive audiences in the advertising landscape - small businesses. The network has a potential reach of over six million U.S. customers from Intuit's QuickBooks, which sent invoices totaling $2 trillion, processed $125 billion in total payments volume, and paid 17.6 million US workers, in 2022 alone.
For VIZIO, this means our advertising partners now have the opportunity to leverage Intuit’s data to power its CTV campaigns. This includes leveraging the power of Intuit’s first-party data to deliver relevant ads to its small business customers based on the type of business they run, their product and service offerings, and geographic location.
“RMNs and CTV are the individual catalysts driving future growth for the advertising industry at large, and together they pair first-party purchasing data with the most powerful screen in the house,” said Adam Bergman, Group Vice President of Advertising and Data Sales at VIZIO. “This partnership will enable us to augment our best-in-class TV data with Intuit’s high-fidelity datasets, giving VIZIO Ads customers the exclusive ability to reach new high-value audiences, while opening the door to millions of additional B2B advertisers.”
If you’d like to hear more about how you can leverage this partnership to optimize your CTV strategy, select the “Get in touch” button below to connect with a VIZIO representative.
