Best Buy connects retail media network to social campaigns
Best Buy advertising partners can now target the retailer’s customers via social networks such as Facebook and Instagram.
The consumer electronics giant’s Best Buy Ads retail media network is unveiling Social+, a new offering for brands and advertising agencies that allows them to reach its first-party audience and deliver metrics across social campaigns.
Social+ is exclusively available through Best Buy Ads and at launch includes Meta’s Facebook and Instagram networks, with plans to expand to other platforms in the future.
“Our world relies on technology more than ever, and no one understands customers who use and love tech better than Best Buy,” said Lisa Valentino, president of Best Buy Ads. “We’re excited to launch this in collaboration with Meta. With Social+, we’ve set a new industry standard that will help our partners thrive, boost their return on investment and provide more ways to measure meaningful impact.”
Social+ combines proprietary Best Buy customer insights with Meta’s Advantage+ shopping campaigns. The solution leverages automation to find existing and prospective customers and serve highly targeted content to specific customers at optimal times. It will also provide SKU-level insights through Meta’s product level reporting beta capabilities.
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.
This followed Best Buy 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, beginning in August 2021. Through sponsored products, the platform helps Best Buy customers further discover and purchase products.
Other partnerships Best Buy has entered to enhance its retail media network’s offering include starting to work with digital media measurement platform DoubleVerify in fall 2022 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.
And in March 2023, the retailer began collaborating with streaming TV provider Roku to enable its brand partners to target, optimize, and measure their ads on Roku using Best Buy shopper data.
[READ MORE: Best Buy extends targeted ad program to streaming TV]
