Criteo – how the firm effectively connects with the shoppers.
Criteo, a French company has indeed become one of the best investment for internet retailers for retargeting ie. displaying their advertisements to customers who have visited their shopping sites. The company has successfully brought in a new ecosystem for the purpose of marketing products throughout the journey of each prospective customer. The company is competing against other leading companies like google, facebook, amazon, twitter etc. in the digital space. The firm is considering the scope of expanding its verticals to automobiles and Banking, Finance, services and insurance sectors in India as these sectors are rendered promising.
The company has an active partnership with publishers, helps its clients or retailers to expand its reach to their target segments by employement of its cross-device advertisement services. Their digital platforms range from mobile sites, social media to desktop advertising. The company has acquired a customer retention rate of ninety six percent since its last twenty six quarters, signifying a high customer retention rate. It mainly relies on the data of how shoppers browse and make decisions regarding to their purchase and target their ads to prospective customers. The company makes use of the transaction data, ie, if it finds a customer has had bought bags, then they would lessen down the ads related to bags. The company in comparison with one of its competitors, Amazon deals with a higher scale of dealings. Criteo checks to roughly one billion monthly shoppers ( active ), takes up four billion product interactions every month. They also handle nearly five hundred and fifty billion business informations. The way the firm customizes ad communications is one of the critical factors that sets it different from others. Travels, retail industry and classified are their main verticals. A few customers would check for a product in online store but then shop them in offline retail stores, the intensity of displaying advertisements would gradually reduce. The retargeting company has pointed out the importance to take up both the online and offline data of consumers to drive and generate more sales. The firm also promotes publishers indirectly by showing their ads in their space. Criteo believes customers to be supportive of ads that are relevant. The firm supports publishers by displaying their ads in their spaces. It focuses on performance marketing, by critically selecting an ROI they set a target segment and then does the required advertising, considering broad marketing as an undesirable option, and also say that it is not suitable for a long-term perspective. The company considers Asia Pacific region as one of the fastest growing and India to be one of the most promising countries for their enterprise. Currently one of the main issues faced is regarding fraudulent ads. The firm has partnered with agencies that helps them detect these frauds and eliminate them. In addition, the firm also employs problematic marketing by increasing media interactions to assist customers during their shopping. It has employed smart integration of social media, agencies and also marketing cloud to boost sales. The firm considers data and does a lot of research to provide the best for its clients and has effectively maintained a high customer retention rate throughout.