Food delivery firm Gopuff has become the latest consumer-facing retailer to launch a retail media network to leverage its first party customer data among brands looking for hyper-targeted marketing opportunities.
The Gopuff in-house ads platform is looking to stand out in the increasingly crowded food delivery retail media space through using AI and machine learning to not only better parse its customer data, but to also help automate ad rate bidding for brands looking to use the network.
According to its launch release, it will use AI and machine learning models across more than 1,000 real-time variables and 10 years of historical customer data. This sees the platform take into account each customer’s shopping behaviour, their previous purchases, the time of day and localised product popularity to surface the most relevant advertisement and product for that individual, in that moment — well, in under 50 milliseconds of that moment.
Since launching the platform, Gopuff has seen a 50% higher relevance score, helping drive a 25% increase in click-through-rates and a 24% increase in conversion. Plus, by taking a more focused approach, advertisers are seeing a 30% lower cost-per-click on average.
“At Gopuff, we believe everyone wins when we match the right advertiser to the right customer at the right time — it’s what makes ad placements feel like content,” says Daniel Folkman, SVP of Business at the company. “With the new Gopuff Ads Platform, brands can easily reach shoppers with the most relevant content to create authentic experiences and inspire customers to engage. We’re thrilled to offer advertisers greater access to the Gopuff platform and data with intelligent, new tools and look forward to continuing to drive innovation as the industry evolves.”
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According to Folkman, the platform brands and agencies full control over their advertising dollars and can seamlessly build, buy, manage, measure and assess their spend. Some of its key features as outlined on its site include:
- Objective-based buying: Gopuff’s new audience targeting solution was designed to deliver the best results based on a campaign’s objectives, whether an advertiser is looking to increase household penetration, drive loyalty through lapsed buyers, or convert new-to-brand customers. Gopuff’s platform provides relevant context and real-time data to help brands optimize their spend.
- Bid optimisation: With a new bid automation option, the Gopuff Ads Platform will automatically adjust a brand’s bids in real time, based on the potential for conversion. The platform increases bids for highly relevant shopping queries likely to convert to sales and decreases bids for less impactful placements, ensuring spending focuses on quality clicks and reducing overall costs.
- Robust and predictive audience targeting: Powered by in-house machine learning and AI, brands can easily segment and target audiences based on past purchase history, time of day, and geographic regions – as well as behavioural and contextual data. With just a few clicks, companies can target lapsed buyers, customers who are new-to-brand or brand loyalists. Plus, with Gopuff’s ‘Likely Buyer’ audience builder, brands can identify new-to-brand shoppers who behave like brand loyalists – an audience most likely to convert.
- Actionable insights: Easily view and analyse campaign performance across all audiences, regardless of campaign targeting. For example, a brand can analyse virtually any campaign to see if new-to-brand consumers are more likely to convert on single-serve SKUs or multiple packs. This innovative approach allows brands to use predictive analytics to maximize performance, glean useful and actionable insights, and optimize budget.
- Easy-to-use interface: A custom-built interface makes it more seamless than ever to view campaign performance at a glance, dive deeper to understand performance across audiences, or build a new campaign. The new tools and interface provide brands with an end-to-end view of the customer journey, making it easy to manage everything, from buying to reporting, all in one place.
In addition to these new capabilities for sponsored product ads, Gopuff provides partners with the ability to run ads across In-App Display, Off-Platform Audience Extension, Instant Sampling, Non-endemic advertising, and more. As Gopuff continues to innovate and redefine the future of commerce, streamlined reporting will also offer greater visibility into brand partners’ businesses across the Gopuff ecosystem.
