Lowe’s and Yahoo team up for retail media partnership
Yahoo’s DSP and ConnectID will support off-site media experiences through Lowe’s One Roof Media Network.
Today, Yahoo and Lowe’s announce off-site media experiences for brands through Lowe’s One Roof Media Network. They are supported by Yahoo’s demand-side platform (DSP) and the Yahoo ConnectID identity solution.
This marks the next step for Lowe’s network, which launched a year ago.
Dig Deeper: Why we care about retail media networks
Off-site media. To power Lowe’s network, as well as media networks for other brands and retailers, Yahoo has created Yahoo Member Connect.
This makes it possible to run personalized omnichannel campaigns delivered to retail customers (like Lowe’s customers, for instance) through off-site channels like digital out-of-home (DOOH). They can also run on other third-party digital inventory outside of Lowe’s owned properties using the Yahoo Exchange.
Measurement and attribution. The Yahoo partnership gives the Lowe’s media network in-depth campaign measurement and sales attribution – and not just for owned digital and in-store Lowe’s sites. Because ads are being served to Lowe’s customers on these off-site properties, advertisers will be able to connect the dots from impressions to purchases at Lowe’s.
Brand engagement. Brands already advertising with Lowe’s media network include faucet maker Delta, GE Appliances, a Haier company and Electrolux.
“As content consumption and digital purchase behavior evolves, we’re always working to engage our consumers, command attention, drive relevance and increase overall sales,” said Rachel Bennet, omnichannel retail marketing director for Delta, in a statement. “Working with Yahoo and Lowe’s One Roof Media Network gives us access to a comprehensive set of tools that takes our campaigns and audience engagement further, including premium digital out-of-home, display and video.”
Why we care. Retail media networks aren’t just happening at retailers. There are other big brands with valuable customer bases that are launching ad networks. For instance, Yahoo has also teamed up with Marriott to deliver ad experiences.
The partnership of Lowe’s One Roof Media Network and Yahoo is notable because it extends the reach that advertisers have with retail customers. It’s already attractive to brand advertisers to be able to reach a customer through an in-store ad, or on the retailer’s website, when the customer is close to the point-of-purchase. But the next step is reaching those customers through off-site, third-party channels, wherever they are. That’s where the real value in retailers’ first-party data can be found.
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