NEW YORK, Oct. 10, 2017 /PRNewswire/ -- Criteo S.A. (NASDAQ: CRTO), the leading commerce marketing technology company, today announces the next step in its vision to build the highest performing and open commerce marketing ecosystem. In August 2017, the company announced its Criteo Commerce Marketing Ecosystem (CME), a network of tens of thousands of retailers, brands, publishers, centered on integrated marketing technology, built for commerce and powered by machine learning. Today Criteo introduces to its Commerce Marketing Ecosystem two new solutions—Criteo Audience MatchBETA and Criteo Customer AcquisitionBETA. Criteo Kinetic Design is also being expanded with the addition of Video.
In a world where shoppers are extremely demanding and volatile, retailers and brands must deliver seamless and relevant shopping experiences across all devices and channels, and at all stages of the journey. This has introduced a new battleground, where the likes of Amazon and Alibaba have a head start: how to organize and apply data at scale to understand the shopper, reach them, and inspire them to buy. Criteo is levelling the playing field by opening up an ecosystem that enables retailers and brands who participate to benefit from a much broader data set and more intelligent technology than they could acquire or develop on their own.
"Collaboration in an open ecosystem levels the playing field and paves the way for commerce companies to shape their future," said Patrick Wyatt, Senior Vice President, Product Management at Criteo. "We have developed Criteo Commerce Marketing Ecosystem to unleash the value of collaboration and the power of data to all who participate. The addition of Criteo Audience Match and Criteo Customer Acquisition delivers a robust suite of commerce marketing solutions to support the full shopper journey online and offline."
Research Driving Innovation
Supporting the innovation behind these new solutions, was a recent study conducted by Criteo in collaboration with Forbes Insights. The study, surveying 500 global senior-level executives, found that disruption to the retail industry is reshaping commerce, and brands and retailers fear that physical-digital giants will make it harder to compete. Further, the study reveals that retailers and brands view pooled data assets as a means to gain a competitive edge, with 71 percent of respondents willing to contribute to a data pool.
Criteo Customer AcquisitionBETA: Finding and attracting new customers
Advertisers continually seek ways to unlock incremental new revenue. However, existing acquisition approaches lack accuracy and leave marketers unsure if advertising dollars have reached shoppers most likely to make a purchase. This challenge creates a cycle of budget waste against spend on irrelevant customers.
Utilizing identity and interest data from Criteo Shopper Graph, early adopters are using Criteo Customer AcquisitionBETA to proactively find and convert new customers at significantly better ROI than existing methods. This performance-based, acquisition solution analyzes historical, behavioral data to create a profile of an ideal target, identifies new customers that match the target profile, and engages them based on products that indicate highest, predicted interest. This solution helps:
- Identify and target new customers based on their browsing patterns and shopping interests.
- Maximize conversion rates through personalized product recommendations.
- Optimize advertising spend and maximize ROI, by only paying when shoppers engage with a campaign.
A beta test in the UK showed that early adopters could increase their new customer acquisition rate to as much as 73 percent.
"We gauge success based on reach, engagement, conversion and the ability to understand exactly how digital advertising budgets impact our program performance," said Jon Grail, Head of Digital Marketing at House of Fraser. "Criteo Customer Acquisition is a powerful solution within the Criteo ecosystem that has delivered a direct lift in qualified site traffic, prospecting sales and customer orders."
"Criteo Customer Acquisition delivered outstanding performance resulting in four times more orders than our other customer acquisition partners," said Matt Roberts, Head of Digital Marketing and CRM at New Look.
"In today's evolving digital landscape, we find value in knowing and understanding how exactly our digital budgets and strategies are reaching our prospective customers," said Paul Carmichael, Head of Digital Marketing at La Redoute. "Whether our success is measured by online transactions, traffic or consumer reengagement, Criteo Customer Acquisition provides us with the solutions needed to properly execute digital campaigns and strategies."
Criteo Audience MatchBETA: A flexible way to both reach new and re-engage existing customers
Re-engaging shoppers in their customer base with relevant product messages is an easy win for advertisers but how to reach them is an ongoing dilemma. Existing paid display solutions that use CRM data often fall short, suffering from poor online match rates and with limited inventory reach outside of the online walled gardens.
Using CRM or DMP data to accurately target audiences across web, mobile browser and apps, Criteo Audience MatchBETA provides marketers with a new way to re-engage their customer base with broad-reaching, paid display campaigns. Criteo has built a foundation of deterministic ids within Criteo Shopper Graph, enabling beta customers to see a match rate of more than 60 percent of their existing client lists with online profiles. Additionally, commerce marketers can use Criteo Audience MatchBETA to:
- Quickly execute cost-effective, paid display campaigns across a diverse set of marketing scenarios, including re-engagement of lapsed customers, promotion of seasonal offers, cross-sell of products related to previous purchases, and more.
- Drive unmatched advertising engagement through optimized ads, balancing brand-inspired design and ad performance through Kinetic Design.
- Synchronize perfectly with Criteo Dynamic Retargeting to ensure cross-campaign optimization and attribution.
"With its high match rate and extensive publisher reach across all devices, Criteo Audience Match was the perfect solution to deliver on our audience re-engagement objectives," said Nathalie Dufayet, Traffic Manager, La Redoute.
Kinetic Design brings real-time creative optimization to video
Criteo has also added video as a new channel and inventory source for commerce marketers. Criteo Kinetic Design automatically optimizes every visual aspect of an ad to inspire and engage a shopper. Kinetic Design already allows for more than 17 trillion variations from one base design in display ads. This has been now expanded to incorporate video, creating personalized video ads that feature relevant products based on Criteo's complete understanding of the shopper.
These video ads are created automatically, on-the-fly, and appear across web and mobile. As consumer video consumption continues to grow, Criteo's clients can now use video to relevantly re-engage shoppers without production time, resources, or costs. Video is delivered in a non-intrusive manner to provide a seamless browsing experience - in app, in feed or on a website. Criteo's video capability also allows marketers to take advantage of video ads on a cost-per-click basis.
"The blurring of traditional and digital worlds is disrupting the retail industry's business model. Understanding consumer purchasing behavior is increasingly challenging given media fragmentation and multi-device usage. Forward-thinking brands and retailers that embrace a collaborative approach to data sharing will be best-positioned to add value during the consideration process," said Seth Ulinski, Senior Analyst at Technology Business Research, Inc. "This mindset paves the way for marketers and publishers to create relevant and engaging experiences for consumers - which should ultimately lift consideration and commerce opportunities."
Products are now available in the following markets: Criteo Audience MatchBETA in all markets, except Japan; Criteo Customer AcquisitionBETA in the US, UK, France and Germany; Criteo Kinetic Design - Video in all markets, except Japan, Russia, Turkey and Brazil.
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