Rapid grocery delivery firm Gopuff has announced the launch of its in-house ads platform as it steps up its retail media activities.
With artificial intelligence and machine learning models accounting for more than 1,000 real-time variables and 10 years of historical customer data, the platform features intelligent and predictive tools for objective-based buying and personalised audience targeting recommendations.
Gopuff noted that its Ads Platform takes into account each customer’s shopping behaviour, their previous purchases, the time of day, localised product popularity and 1,000 other data points to surface the most relevant advertisement and product for that individual, all in less than 50 milliseconds. Since launching the platform, Gopuff claims it has already seen a 50% higher relevance score, helping drive a 25% increase in click-through-rates and a 24% increase in conversion. By taking a more focused approach, advertisers are also seeing a 30% lower cost-per-click on average.
“At Gopuff, we believe everyone wins when we match the right advertiser to the right customer at the right time — it’s what makes ad placements feel like content,” said Daniel Folkman, SVP of Business at Gopuff.
“With the new Gopuff Ads Platform, brands can easily reach shoppers with the most relevant content to create authentic experiences and inspire customers to engage. We’re thrilled to offer advertisers greater access to the Gopuff platform and data with intelligent, new tools and look forward to continuing to drive innovation as the industry evolves.”
NAM Implications:
- Gopuff analyses customer’s previous purchases based on
- The time of day
- Localised product popularity
- And 1,000 other data points
- …to surface the most relevant advertisement and product for that individual…
- …all in less than 50 milliseconds.
- That about says it all.
- R.I.P traditional media…
