The multinational marketing and corporate communications firm Omnicom and the commerce media business Criteo have announced an expansion of their current collaboration. Moreover, both companies are extending their previously announced relationship in commerce data to include insights from Criteo’s extensive retailer network and digital shelf data. Omnicom will be the initial holding company to collaborate with Criteo. The project has been referred to as a first-mover cooperation. The alliance comes after the two businesses announced a data-sharing agreement during the Cannes Lions Festival in June. InfoSum, a data clean room processor would incorporate the data into Omnicom’s in-house, custom Omni platform.
Criteo’s investment in Commerce Insights
Criteo’s decision to invest in Commerce Insights comes from its strategic acquisition of Gradient, an intelligent insights platform. Criteo is recognized as a pioneer in applied machine learning. The National Retail Federation has predicted $41.5 billion in the US for the back-to-school this year. With the start of the holiday shopping season, consumers are looking for the best deals and advertisers are trying to capture their attention. With Commerce Insights, advertisers get visibility into sales rank, attribute sales, and other metrics to allow for data-driven decision-making. These decisions will be the basis for the entirety of the commerce media lifecycle. It will include media planning to campaign execution and optimization.
Omnicom’s commitment to leveraging commerce insights
Both Omnicom and Criteo ran a trial earlier this year. The Omnicom team implemented the use of the Criteo digital shelf data. They observed a 22 percent rise in the total return on advertising spending (ROAS) goals. With the acquisition of Outpromo and Global Shopper, Omnicom has increased the scope of its connected commerce business. Furthermore, both businesses are the top linked commerce and ritual media firms in Brazil. The holding firm introduced Omni Commerce, the first linked commerce arrangement solution in the market, in June.
Here’s what they said
Frank Kochenash, Global CEO of Omnicom’s connected commerce and e-retail consultancy Transact stated in the announcement,
This collaboration is another example of how Omnicom is co-creating with other marketplace leaders to develop unique utility and competitive advantages for our clients in this rapidly evolving space. Operationalizing Criteo’s suite of insights and tools within our Omni marketing orchestration system, our teams will be able to better optimize our clients’ investments across retailers, improve their brands’ standing in their categories, and help them exceed ROAS goals.
Brian Gleason, Chief Revenue Officer at Criteo said,
With this partnership, our insights technology will empower Omnicom’s clients to better understand the impact of their advertising by gaining unprecedented visibility into their share of shelf, their share of the category, and more product-level insights than ever before. As we head into the busy back-to-school and holiday season, advertisers are looking to prove the value of their investments and media budget, and Criteo is giving them the tools needed to succeed in the ever-complex retail media ecosystem.