Supermarket chain Waitrose is set to offer its suppliers the opportunity to run improved and more frequent targeted advertising across its media portfolio.
The move follows a wider marketing overhaul in which the retailer has increased investment in its retail media proposition, giving suppliers greater flexibility in regards to when and where their ads are placed on Waitrose’s channels.
As part of the overhaul, Waitrose has inked a deal with retail tech firm CitrusAd that will enable these targeting changes. Suppliers previously had to to sign long-term fixed tenancy contracts.
Subscribe to Marketing Beat for free
Sign up here to get the latest marketing campaigns sent straight to your inbox each morning
Advertising on retailers’ websites is nothing new, but it traditionally took a blanket approach, meaning customers saw promotions that just weren’t of interest. Now, we’re able to target ads much more effectively so customers get much more relevant offers, and brands get even better engagement,” Waitrose retail media sales lead, Phil Eacott said.
The agreement will mean that suppliers will also benefit from enhanced performance-based metrics and reporting, allowing them to get a better overall sense of how their campaigns are performing.
CitrusAd EMEA CEO Alban Villani added: “Relevancy is key when it comes to customer experience. Since working with Waitrose to offer targeted adverts to customers, ads on their website have begun well outperforming industry benchmarks. What’s more, the brands they work with get real-time data on their campaigns and can easily update their campaigns to help stay relevant.”
