LG Electronics, advertising agency MediaWise and Criteo partner to drive retailer sales
Hardly any industry is as competitive as retail. Nowadays, with the same products available on a number of websites, many retailers have a hard time distinguishing themselves from the competition through price and logistics. Instead, they need a good strategy to retain customers permanently.
Luckily, retailer myToys has a tremendous advantage in that area. Over the years, myToys has built a loyal following — mostly young families — that highly values myToys’ multiple services, prices, and offerings for target groups. This gained attention from big brand manufacturers that wanted to position their products in front of the company’s attractive target audience.
myToys quickly realized that it could expand beyond being a pure retailer into a lucrative platform for toy manufacturers. myToys has been continuously expanding its partner program ever since, making it a key component of the retailer’s strategy.
As early as 2017, the Berlin-based company began offering their suppliers a new marketing opportunity, partnering with Criteo’s Retail Media solution.
The ready-to-use solution had a quick and simple implementation, with sponsored product ads that fit seamlessly into the shopping experience, and strong performance that generated consistent investment from their brand partners.
“With Criteo, sponsored product ads can be viewed in relevant user searches in the immediately visible range of search results, resulting in up to 4x higher click rates than other placements,” says Bettina Arff, head of Brand & Media Solutions at myToys.
The sponsored product ads target users who are already in the buying process. Brands receive direct and transparent feedback on the effectiveness of their campaigns.
Not only did brand manufacturers and myToys generate significant revenue through Criteo’s sponsored product ads, but they also significantly increased Return on Ad Spend (ROAS).
As more retailers look to innovative sources to supplement their revenue streams, those using the right technological solution are poised to succeed.
“Efficient use of available marketing budgets, maximum ROAS and transparency about the measurement of success become more and more important in the cooperation between retailer and brand,” says Bettina.
“Criteo is making a major contribution to our efforts to achieve the best results together with our brand partners and to continuously expand our retail media.”
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