Purplle was running a marketplace with over 1000 brands that had unique promotional requirements. The absence of a functional, stable, and scalable retail media platform resulted in substantial missed opportunities for in-platform ads. This resulted in fewer advertising opportunities for brands, and a loss of advertising revenues for Purplle.
Purplle would see heavy revenue leakages. The marketplace needed a solution that would help their brands to run ads with ease. However, to build a solution this capable, Purplle would require large investment, tech bandwidth, and long development hours.
Monetize was deployed within 40 days with minimum intervention, and offered a simplified interface for retailers and advertisers to buy ad inventories on Purplle’s website and launching campaigns. Subsequently, Purplle became more brand inclusive by addressing challenges for long tail brands and responding to their various demands at scale. It made the retailer more flexible in the process.
Monetize offered ready-made reports and the ability to broadcast ads with a single click from a self-serve platform to optimize Purplle and its advertisers’ bandwidth. Monetize offered automation for scheduled reporting, budget tracking, and AI-powered estimates of key metrics and budget recommendations for every type of campaign. An approval loop was added to make sure that the ads are brand compliant and follow design guidelines. Webinars were routinely conducted by Monetize to educate advertisers about different aspects of marketing.
• 40% increase in sales with 4x growth in ad revenues in 4 months
• 6x growth in ROAS
• 60% increase in platform adoption through focused webinars provided as part of GTM assistance• Handling more than 100M ad requests with 90M impressions in 30 days with over 3.6L SKUs
• Achieving 100% YOY ad revenue growth
• On track for a $1M ARR on ad revenues powered by Monetize