Buy now, pay later shopping giant Klarna has expanded its growth tools for retailers and creators through the expanded deployment of Ads Manager and Creator Shops; the former is now available in the UK and Sweden and the latter in the US.
The tools are designed to help retailers “engage with their audiences in more effective ways and improve consumers’ shopping experience.” Klarna claims its new marketing and advertising solutions “open up new revenue channels for retailers large and small, especially at a time when they are not also looking for additional support to grow their businesses, drive traffic and increase sales.”
So how do the new tools actually work? The company said Ads Manager (which was already available in the US and has been a success, we’re told), draws on Klarna’s audience of 150 million high-intent buyers who “voluntarily share their information with Klarna to receive a more personalized shopping experience.”
Ads Manager “ensures relevant content is shown to consumers by allowing retailers to reach shoppers who are actively searching for brands and products similar to theirs. The platform offers brands an easier and more efficient way to advertise, from ad creation and audience segmentation to in-platform reporting for campaign optimization.”
Klarna added that unlike platforms like Google, Facebook and others, “where consumer intent is focused on general search queries, interacting with friends, listening to music or finding a job, consumer intent on Klarna is focused on purchasing.” , make Ads Manage a highly effective platform for retailers to reach shoppers at the point of purchase.”
And unlike similarly shopping-focused marketplaces like Amazon, “retailer ads on Klarna drive traffic and engagement directly to the retailer without intermediation between the brand and the consumer.” Klarna said retailers in the US running ads with it have seen click-through rates up to 25 times higher than industry averages.
Ads Manager will be rolled out to all Klarna global markets over the coming months.
As for Creator Shops, after its success in Europe, it is now available in the US. According to a recent US survey by Klarna, 68% of Generation Z (ages 18-26) and 59 % of Millennials (ages 27-42) are inspired to shop on social media, “yet finding products remains a challenge and the journey from browsing to purchasing is unpredictable.”
Klarna said it is giving its “growing network of more than 500,000 creators the ability to launch their own stores on Klarna.com and the tools to drive a consistent shopping experience. “This allows shoppers to easily find and shop all the product recommendations from their favorite creators in one place.”
Through the platform, creators “can recommend products from thousands of retailers, share shoppable video and photo content, and share their personal store on their social channels, while creating greater revenue opportunities for retailers.
Klarna’s network of active creators on the Creator Platform has grown five-fold year-over-year in the US, highlighting the value for creators of expanding their reach through new channels. Shoppable videos uploaded to the Creator Shops page will soon also be automatically shared directly to the Klarna app, allowing creators to reach Klarna’s extended network of 27 million monthly app users.
The company’s CMO, David Sandstrom, said the two features “continue to transform the company beyond BNPL into a growth partner and retail media network within the industry. “Our combined network of over a million retail and creator partners around the world now has even more powerful ways to reach Klarna’s high-intent shoppers, while consumers can enjoy a more relevant and personalized shopping experience.” .
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