Horizon Media's Night Market Launches Neon; an eCommerce Predictive AI Platform to Plan and Optimize Media Investments to Revenue Outcomes
As advertisers shift a significant portion of their digital media investments to retail media networks and marketplaces, they often lack the IP necessary to make proper investment decisions to increase revenue. Driving technology innovation to address this industry need, Night Market – Horizon Media's eCommerce company – is launching Neon, a proprietary AI platform designed to increase advertisers' revenue by 20+% when planning and buying retail media to achieve their maximum revenue outcomes. Neon starts with the sale in mind using automated predictive analytics to make investment decisions across retailers.
"Media and commerce data have been analyzed extensively independent of each other, and at Night Market, we saw an opportunity to combine these datasets in order to optimize media spending with the goal of driving revenue outcomes," said Randy Browning, President of Night Market. "Neon allows advertisers to understand the impact of their media across multiple retailers, moving media investments from a cost center to a revenue driver. Individual retail networks can do this within their own boundaries, but advertisers want to understand their investment across retailers. To address this issue, we recognized that a truly innovative solution was necessary. As a result, we decided to create and build the capability. Our highly-skilled data and technology team successfully developed our patent-pending platform."
Neon's computing power forecasts to the tactical level and optimizes in-market spend in real time at the SKU level. Here are some of its planning and activation capabilities:
- Normalizes relationship between historical MMM ROI, client sales data, and retailer-reported campaign performance data (ROAS) to predict quarterly true ROI
- Predicts optimal media investment across retailers and 3P channels such as Amazon and Walmart, down to the tactical level to deliver a revenue goal
- Optimizes in market spend in real time by auto predicting thousands of micro optimizations across retailers or by tactic with a specific retailer to improve true ROI
- Evolves merchandising of Product Display Pages (PDPs) to predict the conversion the prospect media is sending to the page – this directs media to the client's best performing PDPs across retailers and compared to competitor PDPs within a retailer
"At Hershey, we have been thoroughly impressed by Night Market's Neon suite of tools and the potential to accelerate our business in retail media measurement and product merchandising," said Eric Bowers, Senior Director Omnichannel Marketing, The Hershey Company.