Macy’s has announced plans to enhance its retail media capabilities through a partnership with ecommerce specialist Rokt.
The collaboration will see Macy’s Media Network deploy Rokt’s AI and machine learning solutions to provide a more personalized and relevant experience to each customer.
As the in-house media platform for the prominent American retail store, Macy’s Media Network is responsible for forging relationships between the company's advertising partners and customers.
Having launched the program last summer, Rokt’s technology has been integral to Macy’s mission. By enabling the company to deliver targeted, “high-quality, premium” offers post-purchase to its customers, the retailer has been able to improve its relevancy and engagement.
The benefits of the partnership were discussed by Michael Krans, Vice President of Macy’s Media Network, who commented:
Macy’s Media Network has seen increased customer engagement since launching our partnership with Rokt.
“Rokt’s unique AI-powered technology enables us to use our first-party data to provide our customers with high quality, premium offers from non-endemic advertisers post purchase, communicating the right message at the right time, ultimately leading to increased customer engagement.”
The non-endemic ads mentioned by Krans are another key aspect of the partnership.
The company explained that while endemic ads are most effective before a customer chooses a product on an e-commerce site, the non-endemic ads that Rokt is helping to deploy perform better during the transaction phase, when customers are more receptive to new and relevant offers.
In addition, Macy's believes that Rokt’s extensive ecommerce network is ideally suited to assist the company in developing and enhancing other advertising strategies and future initiatives, such as Macy's credit card enrollment and its Star Rewards loyalty program.
In discussing the news, Elizabeth Buchanan, Chief Commercial Officer at Rokt, was full of praise for Macy’s and excited about what the two organizations could achieve together:
Macy’s is an iconic American retailer, and we are extremely proud to partner with the incredible Macy’s Media Network team to drive increased value for its customers.
“This partnership is empowering Macy’s to connect more closely with its online customers by delivering highly relevant messages from our non-endemic advertising partners at the end of the purchase when they are still in a transaction mindset, making the shopping experience more memorable, personal, and impactful.”
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