Simon launches retail media network
One of the largest players in commercial real estate is debuting its very own retail media network.
Simon Property Group has launched Simon Media Network, a “next-generation” commerce media platform that aims to help brands reach consumers across Simon's portfolio of more than 200 retail destinations.
Simon says that unlike traditional retail media networks that are built around purchases from a single retailer, Simon Media Network provides advertisers with a broader view of consumer behavior across an ecosystem of shopping, dining, entertainment and lifestyle experiences. This will allow brands to understand what consumers buy, along with where they spend time, what captures their attention, and how those behaviors translate into “measurable business outcomes.”
"Today's marketers need more than impressions. They need partners who can prove a campaign actually moved someone to visit, engage and buy," said Jared Blechman, chief revenue officer at Simon. "Simon is where consumers discover brands in the real world. Simon Media Network builds on that foundation, transforming those interactions into intelligence that helps brands better understand, reach and engage consumers."
Through Simon Media Network, advertisers can activate campaigns across Simon's integrated marketing ecosystem, including high-impact digital displays throughout Simon destinations, experiential activations, ShopSimon.com, the Simon+ loyalty program and Simon-owned social and digital channels, as well as off-platform media environments. Campaigns can be executed nationally, regionally, by market, or at individual properties.
By combining audience insights, activation and closed-loop attribution, Simon says the network lets brands build “more meaningful” consumer connections and demonstrate an “incremental return” on advertising spend.
[READ MORE: CBRE: Retail real estate set for continued growth; new builds remain slow]
"What makes Simon Media Network attractive is our ability to bring together brands, consumers and experiences in places where real life happens,” said Lee Sterling, chief marketing officer at Simon. “Every day, millions of people come to Simon destinations to shop, discover something new, spend time with family and friends, and create lasting memories. Simon Media Network gives marketers an opportunity to reach those audiences, be part of those moments and understand the impact those connections create."
