U.K.-based leading customer data science company dunnhumby, along with CitrusAd, a major retail media platform from Australia, have reportedly made a combined announcement regarding the launch of the first customer-centric sponsored products platform for brands and retailers across the globe.
Sources with knowledge of the matter stated that the new platform will comprises of two applications namely, Sponsored Search and Sponsored Recommenders. It is to be noted that Sponsored Search will use keyword matching in order to advertise relevant products at the shopper’s product feed.
Meanwhile, Sponsored Recommenders will allow for paid ad placements to be displayed in specific areas such as checkout sections, aisles, and product categories of the retailer’s website, sources claimed.
In this context, Jérôme Cochet, Managing Director at dunnhumby media was quoted saying that the new Sponsored Products platform will enable brands to advertise their products, thereby ultimately enhancing the quality of their overall shopping experience.
By leveraging data from instore and online transactions, the new platform will ensure a consistent link between the advertisements shoppers will see and the respective products they are likely to purchase. Cochet added that Sponsored Products solutions will also provide retailers an opportunity to improve the value of their digital assets by producing advertising revenue directly from agencies and brands.
CEO at CitrusAd, Brad Moran, was reported saying that the partnership will not only offer world’s first customer centric Sponsored Products platform, but will also improve the company’s retail media platform using dunnhumby’s customer data science expertise. The new solution will allow businesses to maximize their revenues without compromising on customization efforts as well as customer-centric approach, he concluded.
If sources are to be believed, dunnhumby’s Sponsored Products platform reportedly will allow retailers to display highly relevant products to consumers while using non-interruptive native advertisements.
CPG (consumer packaged goods) brands and their respective agencies can then apparently produce auction-based campaigns. Sources further stated that these campaigns will use programmatic bidding in order to secure advertisement slots as per parameters such as categories, keywords, and budget.
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