Data collaboration platform LiveRamp has announced a partnership with global commerce media company Criteo that aims to empower retailers to do more with their data to deliver more effective advertising campaigns.
Uniting Boots’ Advantage Card with online exposure and offline sales data, the collaboration is expected to provide advertisers with more transparent attribution across the health & beauty retailer’s digital and physical retail environments for improved return on ad spend (ROAS).
With the industry continuing to shift to first-party data to mitigate signal uncertainty and changes to privacy regulations, the two firms noted that brands are eager to unlock the marketing potential of retailers’ rich first-party data. This includes their loyalty and customer behaviour datasets which, when harmonised, provide a deeper, omnichannel view of the path to conversion. This is said to offer a more comprehensive and accurate indication of ROAS, with a clear understanding of the full customer journey and each touchpoint that influenced a purchase. For example, a customer might research a product online before deciding to make a purchase in-store. By tying the datasets together, the retailer can connect the sale to the online exposure and capture ROAS more accurately.
Leveraging LiveRamp’s Data Collaboration Platform in combination with Criteo’s Commerce Yield monetisation solution, retailers should enhance their first-party targeting and attribution capabilities of their media networks. This includes providing seamless and timely access to high-value audience segments built on both online and in-store purchase data and improved reporting of sales data across all channels, which in turn improves reporting of ad spend efficiency. This should drive brands and retailers’ ability to generate revenue from retail media as well as strengthen their relations with their customers through more effective, personalised marketing experiences.
By leveraging Boots Advantage Card audience data and offline sales transaction data, Boots Media Group provides its brand clients with a cohesive, omnichannel view of consumer touchpoints using the Criteo and LiveRamp solution. This is a significant development for Boots’ retail media proposition, allowing for first-party audience-led targeting, closed-loop attribution, and offering its brand and agency partners omni-ROAS reporting.
Initial analysis from Criteo has shown a 22% uplift in ROAS when integrating Boots’ online and offline sales, compared to online only. Based on an analysis of the top 50 brands investing in Boots from mid-September to mid-October, the results provided an early indication of the positive impact of the capabilities. Measurement of Boots’ online and offline sales transactions is ongoing, with further campaigns and analysis reporting omni-ROAS throughout the Q4 peak expected.
Ollie Shayer, Omni-Media Director, Boots UK and Boots Media Group, said: “I am proud Boots is at the forefront of this groundbreaking collaboration with two of our key retail media partners. As omnichannel behaviour among consumers accelerates, we now possess unparalleled insights into our customers’ shopping journeys.
“This powerful partnership empowers our brand partners to fully grasp the true omnichannel impact of their on-site activities on Boots.com, driving enhanced performance and deeper consumer understanding.”
Hugh Stevens, UK Managing Director, LiveRamp, added: “Collaboration is key to the success of retail media, and we’re delighted that Boots will be the first retailer to benefit from LiveRamp’s partnership with Criteo in the UK. This partnership supports brands and retailers in the next stage of growth, enabling brands using Boots Media Group to understand the true value of on-site retail media activation for offline conversions and to accelerate ad revenue for our retailer partners.”
NAM Implications:
- i.e. an end in sight for ‘50% of my traditional Media spend is wasted, but I don’t know which half’.
- In fact, it could be said that supplier CFOs could be the more active supporters of switches to Retail Media.
- When the attribution-penny drops…
