Microsoft Launches New Generative AI Tool For Instant Banner Ad Creation
Microsoft has announced the launch of Retail Media Creative Studio, incorporating generative AI into its Retail Media platform (powered by PromoteIQ). This exciting update includes a comprehensive end-to-end solution for crafting banner ads tailored specifically for retail media. The tool, available in preview from January 2024, enables users to generate instant banner ads, all facilitated by conversational AI prompts.
According to Microsoft, the AI solution will be able to understand and align creatives with each retailer’s unique style guide, streamlining the process and minimizing the need for lengthy revisions, such as resizing for different placements, font changes, and the like.
Retailers will be able to start with just the product URL, iterating and updating the design with further prompts. Users will not only be able to update the messaging but also clean up and edit images. Once the ads are live, the tool will optimize towards the best-performing variant using AI-powered algorithms to deliver more personalized shopping experiences to users, effectively eliminating the need for manual A/B testing.
Furthermore, Microsoft is partnering with Vibenomics, a company specializing in in-store audio and visual experiences, to integrate in-store media into the mix of available platforms. The initiative seeks to offer a comprehensive insight into consumer behavior across both digital and physical retail environments.
Retail media is predicted to reach $100 billion in the next 5 years, constituting a quarter of the total digital spend by 2026. Therefore, it comes as no surprise that Microsoft aims to position itself at the forefront of this sector. The Microsoft Retail Media platform provides retailers and advertisers with an omnichannel retail solution to elevate their retail advertising. The integration of generative AI signals Microsoft’s commitment to ongoing innovation and adaptation to the changing retail landscape.