Best Buy, DoorDash explore off-site ads
Best Buy is partnering with a platform for off-site advertising on networks such as Meta, Google and TikTok. So is DoorDash.
The consumer electronics giant and the on-demand delivery provider are launching separate initiatives with Symbiosys, which has created a platform that enables access to first-party data across a retailer’s offsite presence. The Symbiosys "bid-stacking" technology allows brands and retailers to collaboratively bid on premium ad placements on third-party digital networks.
Best Buy is teaming up with Symbiosys to test its new offsite self-service opportunities for the retailer’s brand partners. Leveraging Symbiosys targeting and engagement tools, brands participating in the pilot can use self-service for Google and Bing to target Best Buy shoppers on those platforms.
Best Buy launched Best Buy Ads, its in-house retail media network, in January 2022. Since then, the retailer has expanded the reach of Best Buy Ads via a partnership with the Roku TV streaming platform and provided enhanced measurement capability in collaboration with digital media measurement platform DoubleVerify.
The retailer also recently teamed with digital review/analysis publication CNET to offer curated content and unbiased editorial advice from CNET experts across its e-commerce site, app and stores.
[READ MORE: Best Buy curates CNET reviews for customers, advertisers]
"We’re constantly looking for new opportunities in the retail media space to provide our brand partners the most value and help them reach their audiences in the most effective way," said Anna Kruse, VP, media and performance, Best Buy Ads. "As a test partner, we’re excited to explore how the Symbiosis platform can bring our partners a new search engine marketing self-service option and help expand the reach and efficiency of their campaigns."
DoorDash
When DoorDash partner brands activate offsite media with the on-demand delivery platform and Symbiosys, they drive incremental traffic to DoorDash, resulting in new app downloads, new orders, and new customers for its brand partners.
In 2022, DoorDash introduced a new self-serve platform for the existing DoorDash Ads Manager solution enables advertisers to directly activate, manage and measure Sponsored Product ads on DoorDash. Sponsored Products are item-level placements that connect DoorDash consumers with brands being sold on the platform.
"Symbiosys also enables us to co-fund campaigns with our brands, multiplying the effects of our marketing budget," said Peter Giordano, GM of ads platform & growth services at DoorDash.
"The potential of what retail media can do for retailers and brands alike is in a stage of transformation," said Bashar Kachachi, CEO of Symbiosys. "Budgets are increasing but it can be difficult for all involved to know if they are optimizing in the best way. These partnerships with DoorDash and Best Buy are more than just collaborations; they are a testament to our commitment to innovation in retail media. By enabling brands to connect with customers across diverse and influential platforms, we are setting a new standard for what is possible in the retail industry."
