Online marketplaces like Amazon and retailers like Walmart are selling advertising space on their websites, parlaying their mass-market scope and deep troves of consumer data into targeted reach at scale.
However, they’re not the only companies that can sell advertising. Travel sites, auto parts retailers, home-delivery services and smaller retailers also have an opportunity to participate in media sales.
“Enabling commerce everywhere so that every media experience that you have on the open internet is one that immerses you in a commerce experience — that is the gift of commerce media,” Megan Clarken, chief executive of ad-tech company Criteo, said in this interview with Beet.TV.
Reaching Consumers on the Open Web
Brands want options in reaching consumers outside of walled-garden environments that hinder their ability to determine whether they’re reaching different consumers or the same people over and over. When shopping for products and services, consumers look for different options.
“About 78% of people start their shopping experiences on the open internet,” Clarken said. “Now have people that are aware of what it is that they want to buy and are open to getting commerce messages.”
Reaching consumers when they’re most ready to make a purchase is a powerful mechanism for advertisers, agencies and retailers.
“It’s a big story for brands because they get shoppers in action. It’s a big story for agencies because they get a new avenue in which to get ad spend too,” Clarken said. “It’s fantastic for retailers and media owners as it reinvents, I guess, themselves as media properties that are immersed in commerce experiences for consumers.”
Becoming a Media Property
Retailers that sell ad space are becoming media outlets, but to be effective, they need to show results for advertisers.
“It’s about attracting audiences and attracting brand dollars,” Clarken said. “It’s something that they’ve always done before or tried to do, but now they have this commerce element to the story that they can tell to attract brand dollars…For us to be able to offer more opportunities for agencies to reach audiences is what Criteo does.”
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.
