The partnership between Kenshoo and Profitero, designed to combine ecommerce performance analytics with enterprise marketing technology, will power online advertising as the world adjusts to the effects of COVID-19 and ecommerce becomes a staple for consumers.
Bryan Wiener, CEO and board member at Profitero, said “today this data sits in two different platforms at two different companies, but the partnership brings them both together in one.” Advertising agencies making decisions using Kenshoo’s platform can now have access to the data from Profitero.
For example, if advertisers have a product that is seeing high conversation rates but low traffic on Amazon, this would signal specific keywords to drive better traffic to the platforms and to the media buyer.
The partnership empowers brands to use multiple retailer e-commerce analytics to optimize their sponsored advertising and media campaigns on sites like Amazon and Walmart and aims to reduce wasted marketing spend by factoring consumer purchasing signals such as a product’s page traffic, conversion rates, availability rates and organic search traffic in the algorithms used to drive ad targeting and bidding decisions.
Profitero collects these signals for 50 countries and 8,000 retailer websites and mobile apps.
Kenshoo’s automation technology translates Profitero’s insights into real-time action using its advertising automation platform.
The combined approach also helps brands identify opportunities to scale by redirecting advertising spend toward the products, categories and audiences that are most likely to generate return.
Driving the change, online orders from platforms like Amazon and branded manufacturers such as consumer packaged goods company Procter & Gamble, and health and beauty company L’Oréal -- companies that manufacture their own products -- are some of the fastest-growing in advertising.
“There’s a transformation happening within the brands on how they think about online advertising,” said Will Martin-Gill, GM and chief strategy officer at Kenshoo.
Most brands historically had separate marketing and sales organizations. Marketing grabbed upper-funnel interests, while sales led purchases at retailers. Many times these business units within the organization didn’t communicate with each other.
Online is changing the dynamics, requiring different types of data. Bringing the two groups together also requires a different type of optimization.
So far, the data for June shows “a traction that leads to a change in consumer behavior,” Martin-Gill said.