Global technology company, Criteo has introduced a new, first of its kind contextual advertising solution in Australia that connects first-party commerce data with real-time contextual signals, designed to help marketers drive measurable outcomes.
The launch of the contextual advertising solution, which coincides with Criteo’s 10th anniversary in Australia, is part of the company’s vision as a commerce media platform that enables media monetisation and powers global brands, agencies and retailers to optimise sales and digital advertising returns.
Following Google’s announcement to delay its plans to phase out third-party cookies in the Chrome browser until 2023, Criteo surveyed a select group of Australian marketers with two in five respondents (41%) saying more than half of their digital advertising still relies on third-party cookies.
Despite this, four in five marketers (82%) either have tests in place aimed at complementing or replacing channels that rely on third-party cookies or are planning to start testing soon.
According to Criteo Australia and New Zealand managing director, Colin Barnard (pictured), Google’s decision does not mean marketers can slow down their preparations – they must start testing now.
“At Criteo, we’re investing in multiple solutions like contextual targeting to help thousands of marketers and media owners manage their data responsibly and reach and engage customers in new media environments without relying on third-party identifiers,” he said.
“Our contextual solution significantly raises the bar – and unlike traditional contextual targeting, it is the only solution that doesn’t just rely on contextual signals but also uses commerce signals pulled from first-party data to reach people who are ready to buy.
“It’s all thanks to our world’s largest commerce data set on the open internet, which sees over $900 billion of e-commerce sales annually, three times that of Amazon.”
Using Criteo’s contextual solution, marketers will be able to drive commerce outcomes in real-time by engaging audiences in content that is proven effective in influencing shopping mindsets across Criteo’s extensive first-party media network of 20,000 marketers and thousands of media owners.
The solution offers consumers personalised experiences through product recommendations based on contextual signals on a publisher’s site. The result is better audience reach among those who have high potential to purchase in the future, and the opportunity to adapt in real-time to varying purchasing cycles and seasonal buying trends.
“Marketers that focus on building their own first-party data pool and on finding effective ways to build and activate addressable audiences will be in a much better place come 2023. Finding the right partner with a large footprint outside walled gardens is vital in providing the technology and service needed to not only operate but grow in this next era of advertising,” Barnard said.
Meanwhile, Criteo has also announced the appointment of Roger Dunn as Head of Retail Media in Australia and New Zealand.
Most recently the Founder and General Manager of GroupM Commerce, Dunn will help drive Criteo’s larger vision as a Commerce Media Platform by leading the company’s retail media ecosystem in its next phase of growth, from driving adoption to helping retailers upgrade their technology and unlocking incremental revenue via investment from both brands and agencies.
Dunn brings more than 18 years’ experience in building businesses and driving commercial outcomes across agency and publisher roles including NewsCorp, MediaCom and most recently GroupM, where he was General Manager of GroupM Commerce, the holding group’s eCommerce and Amazon centre of excellence. Over the past five years, Dunn was the first person in Australia to be Amazon certified, has sat on the MFA Interactive Board, has helped create the Digital Foundations Certificate program and was a judge for the ‘Creative eCommerce’ category at the 2021 Cannes Lions International Festival of Creativity.
“Every business is now an eCommerce business as it’s the source of almost 100 per cent of growth,” Roger said.
“Future growth lies at the intersection of media and commerce, with retailers monetising their valuable audiences, and brands unlocking growth by targeting audiences right at the point of purchase. First-party data is also at its core, offering sustainable growth and a long-term addressability solution for the future.
“While Amazon may have paved the way for retail media, Criteo has access to one of the world’s largest commerce data sets on the open internet, which sees over $900 billion of eCommerce sales annually, 3 times that of Amazon. Australian retailers have begun exploring retail media, but the market is now ready for a more sophisticated solution. If retailers don’t start seeing themselves as data-driven media businesses, they risk falling behind once the storm passes.”
Taro Fujinaka, Managing Director, Retail Media, Criteo APAC, said: “Retailers have experienced a boom in online sales, but profitability remains a challenge – and that’s where retail media comes in. We’re excited to have Roger onboard to drive Retail Media in the region – an eCommerce leader in his own right, with extensive experience and deep expertise in helping brands navigate and capture rapidly shifting retail opportunities to achieve their marketing goals.”
A portion of this article was first published on RetailBiz.