New divisions equal new avenues for growth. Kroger is driving down a newly paved road this week, as the company launched a new private programmatic advertising marketplace. The grocer’s retail media business, Kroger Precision Marketing (KPM) by 84.51°, powers the service to optimize ad campaigns across all buying platforms.
“We built The Kroger Private Marketplace to be flexible for agencies—while protecting the privacy of our shoppers,” said Cara Pratt, Senior Vice President, Kroger Precision Marketing at 84.51°. “You design the audience, choose the measurement criteria, set the safety standards, and activate in your tech stack. We’re setting the bar for the future of programmatic media.”
According to a press release, the Kroger Private Marketplace will make buying easier while offering advertisers flexibility, speed, and control of their campaigns. Through the service, brands can now reach the most relevant shoppers across the web, using their own DSP of choice and optimizing performance against actual retail sales.
Through the platform, advertisers will be able to tailor their audiences to match their campaign objectives using targeting science that is exclusive to Kroger Precision Marketing. In effect, the platform pre-optimizes audiences to achieve business outcomes.
The Kroger Private Marketplace offers advertisers access to:
An example provided in the release states that when aiming for conversions, the targeting science of Kroger Precision Marketing will enable brands to reach relevant households that will offer the strongest sales impact. These activations have resulted in household penetration gains from new and lapsed households, with at least three times more sales than the average consumer.
“We’re still in the early days of seeing e-commerce disrupt shopping habits,” continued Pratt. “This is an important time for brands to leverage retail insights to influence new shopping behaviors. Kroger’s private marketplace reaches relevant households and empowers teams to optimize campaign performance against actual business outcomes.”
The new platform furthers Kroger Precision Marketing’s commitment to safeguarding consumer data by utilizing a deal ID which enables appropriate programmatic use while still giving agencies the flexibility to activate across several platforms.
Publicis Groupe was the first holding company to participate in the alpha tests for the product, helping to shape the offering for not only its clients but the broader industry.
“Brands are looking for ways to tap first-party retail data and reduce ad waste,” says Helen Lin, Chief Digital Officer, Publicis Groupe. “The Kroger Private Marketplace uses retail sales data to unlock new optimization levers for programmatic buyers—while still giving them the flexibility to manage the campaign in our existing tech stack.”
Sounds like a good day to be a Kroger partner! As more retail news comes to light, stick with us here at DMN.