The Home Depot is responding to marketers' demand for more granular insights from retail media networks by introducing a new measurement acronym, ROMO, for return on marketing objectives. This approach, presented at the company's InFronts event, aims to provide a holistic view of campaign effectiveness by examining factors like brand awareness and customer engagement, rather than solely focusing on return on ad spend. As retail media networks become more prevalent, The Home Depot seeks to differentiate its offerings through deeper insights and a strategic emphasis on long-term business goals.
Marketers' calls for more granular insights from retail media networks have reached a fever pitch as of late.
In response, The Home Depot is pitching a new acronym: ROMO, or return on marketing objectives, in addition to return on ad spend (ROAS) to help marketers paint a more holistic picture.
It helps advertisers measure that impact that goes beyond the immediate sales and aligns marketing efforts to your long-term business objectives.
Return on marketing objectives includes brand awareness, customer engagement, retention and market share growth.
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