Kroger makes case for marketing precision
The elimination of waste from marketing budgets is the unfulfilled promise of the digital age. Kroger is out to change that situation and has introduced new capabilities to show how its self-service ad platform drives sales and is superior to other retailers.
Suppliers to Kroger who use the retailer's media capabilities branded as Kroger Precision Marketing will now have greater visibility into the effectiveness of their marketing spend. The retailer introduced a new sales attribution capability to provide brands full transparency into media performance. Kroger said its self-service advertising platform now allows brands to view in-store and online sales results attributed to advertising campaigns across Kroger properties amd that it only applies 100% verified transactions from both in-store and online customers.
“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,” said Cara Pratt, VP of commercial and product strategy for Kroger Precision Marketing at 84.51°. “We’re committed to providing brands a fully transparent view of sales performance rather than just the typical novelty metrics of digital media.”
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 to provide marketers the ability to better understand campaign performance and optimize media investment against actual return on ad spend. Kroger maintains the approach gives its KPM platform an edge in the rapidly growing retail media space.
“Together, Kroger Precision Marketing and Microsoft PromoteIQ are elevating the expectations marketers can and should have for retail media,” said Alex Sherman, co-founder and CEO of Microsoft PromoteIQ. “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.”