Global payment solution provider Klarna is amping up its arsenal of growth tools for retailers as it looks to expand beyond its core buy now, pay later (BNPL) business.
The Ads Manager, initially accessible in the United States, is now expanding its availability to Klarna’s retail partners in the United Kingdom and Sweden. This presents a fresh avenue for retailers in these markets to connect with Klarna’s extensive audience of 150 million highly engaged shoppers.
The offering provides brands with a streamlined and more effective approach to advertising, encompassing everything from ad creation and audience targeting to in-platform reporting for optimizing campaigns. It leverages information shared by consumers to deliver a more personalized shopping experience.
In contrast to platforms like Google and Facebook, where consumer intent spans general search queries, social interactions, music consumption, or job searches, Klarna’s consumer intent is specifically centered around shopping. This unique focus makes the Ads Manager an exceptionally potent platform for retailers to connect with shoppers precisely at the moment of purchase.
Moreover, unlike marketplaces like Amazon, advertisements from retailers on Klarna generate traffic and engagement, directly linking the retailer with the consumer and eliminating intermediaries. According to the global payments network, U.S. retailers running ads on Klarna have experienced click-through rates that are up to 25 times higher than industry averages.
Ads Manager is set to launch in all of Klarna’s worldwide markets in the coming months. Furthermore, Klarna has expanded the availability of its Creator Shops to the United States, replicating its success in Europe. This service enables creators to establish their own online storefronts, allowing their fans to purchase their favorite products.
The company’s marketing and advertising tools aim to better connect retailers with their audiences in more impactful ways while elevating the overall shopping experience for consumers. The tools also promise to help bigger and smaller retailers build additional revenue streams — which is particularly important when businesses need further assistance in expanding, boosting traffic, and enhancing sales.
Photo credit: Klarna