First of its kind ‘open ecosystem’ includes agencies within Dentsu, Horizon Media, IPG and WPP, as well as MDC Partners, Publicis Commerce, Kenshoo, PacVue, MikMak, and VaynerMedia
Profitero, a leading global enterprise eCommerce SaaS analytics platform, today announced a first of its kind “open ecosystem” connecting retail digital shelf analytics, media agencies and ad tech platforms together for optimized marketing performance. The ecosystem eliminates long-standing silos between eCommerce sales and marketing teams through integrations that allow ad agencies and ad tech platforms to adjust and optimize eCommerce advertising campaigns and content based on out-of-stock, search traffic, conversion rates and other product analytics collected daily from retailer websites around the world.
eCommerce is accelerating rapidly -- in just 8 weeks U.S. eCommerce sales nearly doubled, outpacing the last ten years of growth combined -- which has pushed brands to shift a larger portion of their ad budgets and marketing focus to retail media. Seamlessly integrating digital commerce data into the marketing strategy behind retail media spend is now a critical component for growing sales, increasing market share and improving profitability.
“eCommerce is an increasingly important part of our business, especially as more consumers turn to online grocery. It's great to see a collaboration like Profitero's open ecosystem streamline access to differentiated and actionable retailer data and connect it to our other tools so we can grow faster and more efficiently,” said Elizabeth Bennett, Vice President, Global eCommerce and Meal Hero at The Kraft-Heinz Company.
Integrations between Profitero and tech platforms like Pacvue, Kenshoo and MikMak will give brands and agencies direct access to highly accurate and valuable eCommerce analytics immediately alongside advertising campaign performance making it easy to adjust and optimize campaigns and improve ROI. Initial agency partners include five of the six major agency holding companies, as well as leading independent agencies such as BuyBox Experts, Night Market from Horizon Media, Tinuiti and VaynerMedia.
“eCommerce sales and marketing teams have an untapped opportunity to drive greater performance for their brand, and using a single source of truth for eCommerce data across teams can help drive ROI across enterprise organizations,” said Bryan Wiener, CEO of Profitero. “By connecting our daily eCommerce data with media agencies and ad tech providers, Profitero is enabling the integration of sales and marketing to happen seamlessly and automatically. For the first time, marketers can have real-time product insights to optimize campaigns and sales teams can better understand how marketing campaigns are driving digital retail performance.”
For instance, in initial tests between Kenshoo and Mayborn Group, a global manufacturer and supplier of baby accessory products, the team leveraged Profitero’s daily traffic, conversion and digital shelf data to optimize sponsored ad campaigns on Amazon. As a result, they drove market share lift of 10 percentage points in just a week -- a huge win since the brand already owns over 60% of the market.
Optimizing advertising ROI is just one goal of the ecosystem. Partnerships with creative and shopper marketing agencies will also help brands optimize product content across retailer sites, and partnerships with other data and analytics platforms will enrich their eCommerce performance reporting capabilities.
For more on the open ecosystem, please visit our website here, and see what our partners have to say below:
“COVID-19 has been an accelerant of digital adoption and eCommerce continues to grow and shape the way consumers are inspired, and the way they purchase. As our clients lean even further into eCommerce, leveraging key data and insights through the Profitero platform will enable more intelligent media planning and performance,” said Kacie McKee, Head of eCommerce, US, Wavemaker, a part of the WPP network.
"As a premier commerce agency within the WPP network and long standing partners with Profitero, we are looking forward to elevating our relationship to offer up differential insight and unlock growth for our clients together through enhanced commerce analytics capabilities," said Jacquelyn Baker, Managing Director, Commerce Practice Lead at VMLY&R.
"Success in e-commerce is going to be one of the most important, if not the most important, variables that dictate the success of many of our clients going forward. We’re proud to partner with Profitero to deliver support in that success through differentiated insights and execution,” said Gary Vaynerchuk, CEO, VaynerMedia.
"Profitero has been a great partner of IPG Mediabrands and an excellent source of retail metrics," said Will Margaritis, Head of eCommerce for Reprise. “We incorporate their data throughout our eCommerce strategy, and we look forward to the additional insights and growth this opportunity will bring.”
“Commerce is quickly becoming the number one priority for our clients across the board. The successful integration of marketing and sales is what makes commerce vital in 2020 and beyond,” said Ali Nehme, Global Chief Commerce Officer, Publicis Groupe. “The key is being equipped with great data and insight from partners like Profitero, who give our clients the right visibility to drive value for their commerce operations.”
“We are thrilled to partner with Profitero to jointly break down data silos, alongside our brand and agency clients. Together, we can unlock the full power of data to drive meaningful actions with programmatic advertising and deliver on KPIs,” said Melissa Burdick, Co-Founder and President, PacVue.
“The Night Market and Profitero partnership allows every client to gain a deeper understanding into how eCommerce is impacting and changing their business. As a leading, agile commerce consultancy, we have pioneered the generation of audiences based on online purchase behavior. Alongside Profitero, we provide a more unique and sophisticated spotlight of the modern day consumer,” said Randy Browning, President of Night Market, a part of Horizon Media.
“MikMak and Profitero are partnering to provide Fortune 1000 CPG brands with multi-retailer shopping experiences all over the internet that deliver end-to-end attribution from media impression to sale. CPG brands will now be able to understand the customer journey holistically, gain and protect market share and go to market smarter,” said Rachel Tipograph, Founder and CEO, MikMak.
“As WPPs end-to-end Creative Commerce agency, our partnership with Profitero gives us a greater depth of knowledge of how, when and where people shop to inform the delivery of channel agnostic creative solutions at the moments that matter,” Beth Ann Kaminkow, Global CEO, Geometry.
“Building cutting edge, transactional customer experiences for brands such as Adidas, Pandora and Zwilling, at Dentsu Commerce we recognize how seamless access to sales performance data is a critical enabler for the continuous, outcome-based improvement of the buyer’s journey. We are excited to partner with Profitero, because we understand how the page traffic and conversion insights their platform delivers, as well as the digital shelf analytics it provides, are going to improve and accelerate our ability to identify what specific actions will help our clients grow their sales faster,” said Vikalp Tandon, Global President, Dentsu Commerce.
“Brands have become more and more reliant on the Amazon Marketplace as a vital channel in their omnichannel strategy. Through this exciting partnership, Buy Box Experts and Profitero are able to provide brands with both the right data to understand their customer’s behavior and brand performance on Amazon and the strategic brand management to successfully improve their brand performance and achieve their sales goals and objectives,” said Joseph Hansen, Founder and CEO, Buy Box Experts.
"Tinuiti believes that insight into retail digital shelf metrics like share of voice is a critical component to effectively managing eCommerce channels and campaigns. Our MobiusX technology development roadmap was built with this in mind so we're excited to partner with Profitero to help our brands source the critical information they need to make pricing, product and marketing decisions to grow market share and profitability across eCommerce platforms," said Nii Ahene, chief strategy officer, Tinuiti.
Profitero is the platform Adidas, L’Oreal, General Mills and 4,000 other brands use to accelerate their eCommerce sales. In fact, brands that use Profitero are able to grow their Amazon sales 70 percent faster than category competitors, on average. Using Profitero’s proprietary technology and algorithms, brands can optimize their 4Ps (Product, Placement, Price and Promotions) across 8,000 retailer sites and 50 countries while also uncovering what competitors are doing to win online.
Profitero’s technology also estimates daily sales for products sold on Amazon, allowing brands to measure market share growth and size category opportunities for future investment. The platform was first in the industry to integrate Amazon sales and share metrics and digital shelf analytics together so brands can more quickly pinpoint the factors driving sales and share changes. For more, visit https://www.profitero.com/