Best Buy bolsters ad measurement for in-house media company
The leading U.S. consumer electronics retailer is partnering with a software platform for digital media measurement, data and analytics.
Best Buy Co. Inc. is working with DoubleVerify to provide measurement tools for participants in Best Buy Ads, the consumer electronic retailer’s in-house retail media network, as well as for its own ad campaigns. DoubleVerify integrates directly into Best Buy Ads, enabling advertisers to evaluate if campaigns are viewable, seen by real people, served in a brand-safe environment, safe from fraud and sophisticated invalid traffic (SIVT), and appear in the intended geography
Best Buy advertisers who use DoubleVerify will have access to third-party pre-campaign activation and post-bid filtering and measurement capabilities across Best Buy Ads. Best Buy will also leverage the platform for its own programmatically executed media buys.
In addition, Best Buy will implement DoubleVerify’s Publisher Suite across Best Buy Ads, providing protection and granular controls to the retail media network.
Best Buy builds on ad targeting for brand partners
Best Buy launched Best Buy Ads in January 2022. The in-house media company designed to help its suppliers provide shoppers with targeted, timed promotional messages based on its customer relationships and insights. According to Best Buy, it interacts with its customers 3 billion times a year in-store and online.
In August 2021, Best Buy began enabling advertisers to use Criteo’s cross-retailer, self-service platform to reach BestBuy.com and BestBuy.ca shoppers in the U.S. and Canada. Through sponsored products, the platform helps Best Buy customers further discover and purchase products.
The Criteo retail media platform allows brand marketers and agencies to reach consumers shopping on e-commerce sites, while executing campaigns with full transparency and control. Leveraging artificial intelligence (AI) capabilities, Criteo’s retail media ads conform to the same targeting and personalization as Best Buy’s organic product placements, helping ensure a seamless and relevant shopper experience.
The retailer is also integrating Best Buy Ads with its previously announced five-year plan to address underrepresentation and technology inequities, and create educational and career opportunities. With the help of some of its partners and the Best Buy Foundation, Best Buy Ads is launching an advertising-focused Career Pathways program through Best Buy Teen Tech Center locations across the country.
[Read more: Best Buy develops future tech resources]
Since February 2022, this advertising program has been helping strengthen skills used in the advertising industry to help create opportunities and a pipeline of fresh, diverse talent for advertising industry careers.
Two other major national chains with a large consumer electronics presence – Walmart and Target – are also active in enabling targeted advertising for their customer bases. Walmart rolled out a demand-side platform for suppliers and their media and ad agencies in time for the 2021 holiday season. The Walmart demand-side platform (DSP) is a collaborative effort with independent demand-side platform The Trade Desk.
Meanwhile, Target launched its Roundel ad network in 2019 as a tool for CPG brands to create personalized digital ad campaigns aimed at Target customers.
“We are excited to work with Best Buy to bring independent, third-party measurement to Best Buy Ads and to Best Buy ad campaigns across the open web,” said Mark Zagorski, CEO at DoubleVerify. “Our solutions will support Best Buy and its retail media clients, improving overall ad effectiveness, while giving them greater clarity and confidence in their digital investments.”
Headquartered in Minneapolis, Best Buy Co. Inc. operates over 1,000 stores in the U.S.