Criteo launches new tool to help retailers target online customers better
Criteo Customer Acquisition Beta will help retailers re-target customers, give them personalized product recommendations
Commerce marketing technology company Criteo has launched Criteo Customer Acquisition Beta, a new tool to help retailers. The company claims that the new offering will generate "phenomenal business growth", including 12X greater audience reach and 73% new customer rate. India is the second country after Australia in APAC region to get this new solution. The tool is already being used in 25 other countries.
Criteo Customer Acquisition BETA will help retailers reach and target new customers by using dynamic ads. It delivers personalized product recommendations to consumers.
According to the company, “the new tool enables retailers to reach new customers with user-centric personalized products and also maximize their ROI by driving exposure to relevant prospects while incurring cost only when customers engage with the retailer’s ads.”
Siddharth Dabhade, General Manager, Criteo India, said, “The tool will not only help retailers drive website traffic, but will also enable them to overcome the challenge of reaching shoppers with personalized product recommendations. The total solution will provide end-to-end services to retailers and help them acquire, convert and re-engage online shoppers relevantly.”
The tool will allow retailers to maximize acquisition rates and drive incremental sales by seamlessly engaging new customers across devices, apps and browsers with the products that match the full spectrum of their shopping interests.
On asking, how the solution will help Criteo win the game, Siddharth revealed, “Through new customer acquisition, it will help drive sales and profit, which was a problem earlier. This is a big value addition for our clients. It will permit retargeting solutions. The platform will get new consumers and it becomes easier to re-engage with them. Perhaps, it works as an additional layer of retargeting, which we are giving to the advertisers. It will drive more conversions on website from new customers.”
Customer Acquisition tool uses machine learning to leverage behavioural data from more than 1.2 billion active internet shoppers and find new customers for acquisition campaigns.
The company shared an example to showcase how Criteo helps business growth. It claims that a leading UK global fashion retailer has achieved a staggering 62% customer rate since implementing Criteo Customer Acquisition. It also resulted in four times more orders with a 74% lower Cost Per Order (CPO), compared to other acquisition solutions.
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