Brands have a growing opportunity to lead consumers through the purchase funnel as commerce media provide them with multiple digital touchpoints. These interactions generate data that can help to sharpen their marketing strategies.
“Retailers like Target have this tremendous environment where they invite consumers into their store every day online,” Brian Gleason, global chief revenue officer at ad-tech company Criteo, said in this interview with Rob Williams, senior editor for Beet.TV.
“That engagement point between the consumer and the brand — whether it be Unilever, Kimberly-Clark, Johnson & Johnson — suddenly they’re able to position themselves at the point of purchase,” he said, “which is an amazing opportunity for the brand and for the consumer in the discovery phase.”
Brands can measure the performance of their advertising in what Criteo describes as a “closed loop,” and see what percentage of the “digital shelf” they have, Gleason said. Meanwhile, the retailer has an opportunity to monetize the space on their ecommerce pages with paid ads.
Transacting on the Open Web
Outside of ecommerce marketplaces and online retailers, commerce media also includes a variety of other kinds of online businesses that get the attention of consumers, such as travel booking websites or home-delivery services.
“At Criteo, when you’re thinking about that concept of the transaction or the act of buying and selling, we see nearly a trillion dollars of actual transactions a year. It’s roughly three times the size of Amazon,” Gleason said. “There’s this massive marketplace that’s just beginning to boom and explode.”
Nexus Point for Online Commerce
Criteo has more than 100 retailers that use its platform to sell ad space. The company provides expertise in ensuring that the consumer experience with online advertising is positive, unlike some sites that drive people away with overly intrusive pop-ups or page takeovers.
“The retailers now have this monetization opportunity, but that takes a skillset that not many of them have had. It’s a brand-new business for them,” Gleason said. “To come in and understand how not to disrupt the customer experience.”
You are watching “The Road to Cannes 2022 – Commerce: The New Cannes Conversation”, a Beet.TV Preview Series presented by Criteo. For more videos from this series, please visit this page.