Advertisers are having to work harder to find audiences – but the search may end at the centre of the Venn diagram of data from TV platforms and retail media.
That is according to Carly Friedman, Head of Industry: Entertainment, Gaming, Tech & Telco, Roku.
In March 2023, Roku partnered with Best Buy Ads, using the retailer’s customer sales data in order to target TV ads. It also came with a new smart TV powered by Roku, sold at Best Buy.
In this video interview with Beet.TV, Friedman explains the rationale.
Making Data the Core of the Strategy
“We take these two data sets and put them together,” Friedman says.
“Then we’re able to find a target audience that is both Best Buy’s shoppers and a targeted audience on Roku, providing measurement on the backend to prove out return on investment and return on ad spend.”
The approach of closing the loop, proving performance through the platform, is an essential element of the strategy.
via @adexchanger >> Roku will be able to use Best Buy Ads data to target and measure campaigns – which means offering TV sets at a low price (Roku profits by ads, not hardware sales) and an improved streaming experience with personalized ads and better frequency capping. $ROKU pic.twitter.com/DenbPylOwd
— Joey Vara (@Vara11) March 13, 2023
Key Performance Indicators (KPIs) can set by the clients, including brand awareness and consideration.
Friedman notes that the current macroeconomic climate is driving a shift in consumer behavior, as dollars have to work harder for marketers and with a continual shift from linear to streaming.
“It’s not just (about getting) mass reach, it’s making sure that you’re having an effective reach,” she says.
Best Practices for Retail Media Networks
Friedman also thinks companies like Walmart and Kroger can benefit from connected TV.
“They sit on all this interesting shopper data. We reach over 73 million active accounts per month, that’s just incredible reach for them to get their message in a very targeted way,” she explains.
When it comes to best practices for retail media networks, Friedman’s advice is straightforward: put the customer first.
“Retail media networks, as long as they’re considering their customer first, the advertising message will be delivered in the right way,” she says.
You’re watching “Next in Shoppable Media,” a Beet.TV Leadership Series presented by Best Buy Ads and Roku. For more videos from this series, please visit this page.
