New Feature Allows Brands and Media Agencies to View Full Sales Impact of Ad Spend
CINCINNATI, OH / ACCESSWIRE / February 13, 2020 / The Kroger Co.'s (NYSE:KR) media advertising business, Kroger Precision Marketing (KPM), announces a new sales attribution capability to provide brands full transparency into media performance. Kroger's self-service advertising platform now allows brands to view in-store and online sales results attributed to advertising campaigns across Kroger properties. Kroger applies only 100 percent verified transactions from both in-store and online customers.
Microsoft PromoteIQ powers Kroger's self-service advertising platform, which includes sponsored product listing ads and banner display ads on Kroger websites and mobile apps. The new sales attribution feature uses data science from KPM and Microsoft PromoteIQ technology. It provides marketers the ability to better understand campaign performance and optimize media investment against actual return on ad spend. This difference gives KPM an edge in the rapidly growing retail media space.
"Kroger has created a seamless commerce experience for shopping in-store or online for pick-up or delivery. And brands advertise on Kroger Precision Marketing because we can influence moments when shoppers are searching and discovering products, and do so in an authentic way. We're committed to providing brands a fully transparent view of sales performance rather than just the typical novelty metrics of digital media," shared Cara Pratt, Vice President, Commercial and Product Strategy for Kroger Precision Marketing at 84.51°.
"Together, Kroger Precision Marketing and Microsoft PromoteIQ are elevating the expectations marketers can and should have for retail media. The ability to connect onsite media activity to in-store purchases helps marketers understand in a granular way how their marketing efforts with Kroger Precision Marketing are driving tangible business outcomes," said Alex Sherman, co-founder and CEO of Microsoft PromoteIQ.
Kroger's self-service advertising platform has been a strong performer for two years. In 2019, hundreds of Kroger suppliers executed thousands of campaigns and achieved industry-leading return-on-ad-spend.
"In a media industry with lots of ambiguity, Kroger Precision Marketing stands out by showing the true incremental impact of advertising, matching ad exposures to verified sales," said Pratt. "Our results are getting noticed by brand marketers and agencies alike, who are excited about our media assets that allow them to create a connection with customers throughout their path to purchase."
About Kroger Precision Marketing
Kroger Precision Marketing is a leading retail media advertising solution. Powered by Kroger's popular loyalty card program, we connect customers to brands through engaging moments that inspire purchasing online or in store. Kroger Precision Marketing closes the loop between media exposure and store sales to make brand advertising more addressable, actionable and accountable. Learn more at KrogerPrecisionMarketing.com.
SOURCE: The Kroger Co.'s (NYSE: KR) media advertising business, Kroger Precision Marketing