What Happened on Cyber5 2021?
CommerceIQ now offering Target Product Ads through Roundel
CommerceIQ, the leader in e-commerce channel optimization, is proud to now work with Roundel, Target’s media company. By leveraging Roundel’s self-service search offering, CommerceIQ’s customers will be able to manage advertising campaigns on Target.com to maximize incremental revenue. This effort is an expansion of CIQ’s existing relationship with Criteo, which enables brands to run search advertising on Target.com.
Target’s standing in retail and omni-commerce has grown significantly over the past two years, as the retailer grew its digital sales by 29% in Q3 2021 – on top of +155% growth in Q3 2020 – with more than 1,900 stores and 350,000+ employees. Consumers are increasing their use of Target’s same-day fulfillment services such as online order pickup at their local Target store which is fueling well over half of the total digital sales on the site.
Through API integration, CIQ’s algorithmic platform optimizes media spend by automatically correlating ad spend and sales to other data, such as time of day, inventory, and peak demand. Our retail-aware advertising engine creates personalized recommendations and can automate improvements to ad spend allocation that maximizes efficiencies and incremental sales. These features enable vendors to be as engaged or hands-off as they like, freeing time and resources for their teams to handle more strategic matters.
CommerceIQ customers have already experienced success running search ads on Target.com. For instance, after CIQ took over campaign management for a leading pet food provider on Target.com, they achieved the following results in just a six-week time period:
- Share of Voice improved by 2% on top category keywords, leading to incremental retail sales on Target
- CTR nearly doubled (0.52% to 0.98%)
- ROAS more than doubled ($3.00 to $6.84)
Starting today, we extend the powerful capabilities of the CommerceIQ platform to more brands. Customers using CIQ Advertising for Target can expect robust data, insights, and reporting in addition to machine-learning algorithms and automations that maximize retail media efficiencies. To learn more, request a demo today!