Money has been rapidly migrating to CTV advertising in recent years as CTV viewership has reached greater heights. It in turn fuels different forms of integration and collaboration in this landscape in a race to make more marketing dollars.
Recently, Best Buy has teamed up with Roku, which allows the electronics retailer’s first-party data access to Roku. As we already mentioned, first-party data access is nothing less than a goldmine for advertisers. It will help them with personalized ad targeting, data-driven campaign optimization, and staying privacy-compliant while making marketing efforts.
And now comes the Walmart-Innovid partnership.
We believe that CPG advertisers will be the primary beneficiaries of this move. In an uncertain economic environment, they already have a hard time tackling consumer product price hike. Given their investment in CTV advertising and average CTV ad costs, it is understandable that they are under intense pressure to reap a better ROI.
The plethora of insights the new partnership provides for CPG advertisers will possibly pave the way to reshaping their marketing strategy.
Key advantages of Walmart’s move for advertisers are:
Ability to Customize Data Segments:
While Walmart’s rivals also make a similar move of giving access to first-party data, it is all the pre-set segments that advertisers can avail. Whereas, since Walmart allows its first-party data to be customizable in their DSP platform, it is going to be tremendously helpful for advertisers. Because the capability helps them filter and target only the highest-value audience segments. As a result, they will be able to improve the campaign's performance and ROI.
Data-driven content optimization:
With Innovid’s DCO in place, advertisers will be able to optimize the content quickly and automatically for each customer in real time. This way, advertisers can deliver the most effective message and design that are likely to influence their target audience. It will possibly lead advertisers to get improved engagement rates and better results with ad campaigns.
In short, Walmart’s new move strives to pave the way for advertisers to see a return for every penny they put into CTV advertising via its ad platform.