Klarna, the AI-powered global payments network and shopping assistant, has expanded its growth tools for retailers and creators. As a result, they will be able to better engage with their audiences in more effective ways and enhance the shopping experience for consumers.
Specifically, Klarna is expanding its self-service advertising platform, ‘Ads Manager’, in the UK and Sweden. This will enable better engagement between retailers and high-intent shoppers. Then across the pond, Klarna has made ‘Creator Shops’ live in the US, in turn enabling creators their own customised storefronts. Both of these launches are in line with Klarna’s mission to accelerate commerce. These services are particularly helpful during a time where retailers are looking for extra support to grow.
“Building on our suite of marketing and ad solutions for retailers, Klarna’s Creator Shops and Ads Manager continue to transform the company beyond BNPL into a growth partner and retail media network within the industry,” said David Sandstrom, CMO, Klarna. “Our combined network of over one million retail partners and creators globally now have even more powerful ways to reach Klarna’s 150 million high-intent shoppers. All the while, consumers can enjoy a more relevant and personalised shopping experience.”
Ads Manager: UK and Sweden expansion
Riding on its US success, Ads Manager is now available to Klarna’s retail partners in the UK and Sweden, although plans to roll out globally are set to take place in the coming months. It offers a new way to reach Klarna’s 150 million high-intent shopper audience.
Consumers willingly share their information with Klarna to receive a more personalised shopping experience.
Ads Manager ensures relevant content is being shown to consumers by enabling retailers to reach the shoppers who are actively seeking brands and products similar to their own. The platform offers brands an easier and more efficient way to advertise, from ad creation and audience targeting, to in-platform reporting for campaign optimisation.
Unlike other platforms where consumer intent is on general search queries, interacting with friends, listening to music, or finding a job, consumer intent on Klarna is exclusively focused on shopping. This makes the Ads Manager a highly effective platform for retailers to reach shoppers at the point of purchase. Additionally, retailer ads on Klarna drive traffic and engagement directly back to the retailer with no intermediation between brand and consumer.
Retailers in the US running ads with Klarna have seen click-through-rates up to 25x those of industry averages.
“Klarna Ads Manager gives us the ability to deploy targeted ad campaigns quickly and effortlessly to reach Klarna shoppers,” said Caleb Orion, director of acquisition, Caden Lane. “We are always looking for new ways to meet customers where they are, and this audience has been valuable to engage with, delivering strong click-through-rates. The platform’s user-friendly interface allows us to track campaigns easily, enabling us to drive valuable results for our business.”
Creator Shops: replicating success in the US
Following its success in Europe, Creator Shops is now available in the US. According to a recent US survey conducted by Klarna, 68 per cent of Gen Zers (age 18-26) and 59 per cent of Millennials (age 27-42) get their shopping inspiration from social media. However, finding products remains a challenge and the journey from browsing to buying is unpredictable.
With Creator Shops, Klarna gives its growing network of over 500,000 creators the ability to launch their own storefronts on Klarna.com. This is in addition to the tools to power a consistent shopping experience. This allows shoppers to easily find and shop all their favourite creators’ product recommendations in one place.
Through Klarna’s Creator Platform, creators can recommend products from thousands of retailers, share shoppable videos and photo content, and share their personal shop across their social channels, while creating increased revenue opportunities for retailers.
Klarna’s network of active creators on the Creator Platform has grown five times YOY in the US. This highlights the value for creators to expand their reach through new channels. Shoppable videos uploaded to the Creator Shops page will soon also be automatically shared directly into the Klarna app, enabling creators to reach an extended network of 27 million monthly app users.
“Klarna’s Creator Platform has become an integral part of our in-house influencer strategy,” said Lisa Goody, associate director EU, Free People. “Having full access to all areas of creator performance allows us to keep a close eye on our campaigns and be reactive where needed.”
Evolving beyond payments worldwide
Further, by being able to include links to every item, creators can increase their ability to earn revenue from a single post on any social media platform, by enabling their followers to click through to their shop and buy.
With the expansion of Klarna’s marketing and ad solutions for its 500,000 retail partners worldwide and creator network, the company continues to evolve beyond payments to be a global shopping assistant for consumers, and growth partner for retailers. Thanks to its unique position at the intersection of banking, payments, and shopping, Klarna creates a powerful value exchange that drives results for retailers while continually enhancing the consumer experience.