COLOGNE — Amazon’s footprint is becoming ubiquitous, it scale seemingly unassailable and its data-driven consumer intelligence advantage gargantuan.
But, for other online retailers, all is not lost, according to one marketing industry expert.
LUMA Partners CEO Terence Kawaja says ad-tech firm Criteo’s acquisition of HookLogic last year offers hope that the long tail of rival retailers can compete on reaching audiences intelligently.
“That gives them a very unique set of data products, more of a closed loop in to who actually purchased the product, so you don’t end up with that annoying ad that’s retargeting you for something you already purchased,” says Kawaja, who advised HookLogic on its $250 million acquisition by Criteo, in this video interview with Beet.TV.
“There’s a huge opportunity for Criteo because of Amazon’s dominance in commerce. What HookLogic did and what Criteo can now do is to say to every other marketer that is not Amazon, ‘We can provide, via a data co-op where they contribute their information about customers … , the kind of tools and advantage that Amazon applies on its O-and-O marketplace.’
“I think it’s a huge opportunity for marketers to band together. They need to get the kind of scale that will be necessary to compete with a big giant like Amazon.”
Speaking with Beet.TV at the DMEXCO ad industry gathering in Germany, Kawaja added he sees the traditional distinction between “above-the-line” and “below-the-line” marketing spend blurring, as new technologies allow marketers to close the loop between online ad spending and attributing offline sales actions.
“Welcome to the Vibrant Future,” a video series of thought leadership from DMEXCO 2017 presented by Criteo. For more videos please visit this page.
