Solution seamlessly drives consumers directly from a digital ad to a product-populated online retailer cart
New York, NY /PRNewswire/ - AdTheorent, Inc., a digital advertising leader using advanced machine learning technology and solutions to deliver real-world value for advertisers, today announced a partnership with SmartCommerce, provider of the only path to purchase built and optimized for the unique needs of the CPG category. Utilizing SmartCommerce's Click2Cart® Solution, AdTheorent enables digital ad functionality which allows consumers to seamlessly add products to retailer shopping carts, which helps combat cart abandonment and increases conversion rates for CPG brands. AdTheorent's machine learning and data science capabilities identify consumers most likely to engage with a given digital ad, and the Click2Cart functionality makes it easier for those consumers to convert.
The Current Landscape
E-Commerce represents a huge opportunity for CPG brands as online spending is growing quickly and will account for more than 6 percent of overall spending by 2021 (more than $60 billion).1 Given the COVID-19 pandemic, e-commerce is increasing exponentially -- online sales for CPG products have risen 56% for the week ending April 18.2. However, nearly 90% of consumers abandon before the cart when using traditional, multi-click paths to purchase,3 leading to lost revenue for CPG brands.
To identify and reach in-market CPG shoppers, AdTheorent's data science team builds custom machine learning models which are deployed into AdTheorent's platform for execution. AdTheorent models can also leverage brand-specific parameters (demographics, psychographics, etc.) as well as geo-location or other targeting parameters. AdTheorent's predictive targeting drives results by reaching consumers who are most likely to purchase a CPG product. Once AdTheorent's ML Platform serves the ad, the consumer can simply click the ad to put the advertised product in the retailer shopping cart. Moving beyond typical "where to buy" buttons and multi-click paths to purchase, this functionality reduces commerce friction by enabling a one-click conversion. SmartCommerce is integrated with all major e-tailers including Amazon, Target, Instacart, Costco, CVS, Walmart, Walgreens and many more.
"AdTheorent's unique ability to reach in-market shoppers through advanced machine learning and predictive targeting, coupled with the ease of SmartCommerce's one-click conversion functionality within elegant digital ad units designed by AdTheorent's in-house creative capability, Studio A\T, will drive superior business outcomes for our CPG advertisers," said Jim Lawson, CEO of AdTheorent.
AdTheorent uses advanced machine learning technology and solutions to deliver impactful advertising campaigns for marketers. AdTheorent's industry-leading machine learning A\T Platform powers its predictive targeting, geo-intelligence, audience extension solutions and in-house creative capability, Studio A\T. Leveraging only non-sensitive data and focused on the predictive value of machine learning models, AdTheorent's product suite allows advertisers to identify the most qualified individuals coupled with the optimal creative experience to deliver superior results, measured by each advertiser's real-world business goals. Commencing in early 2020, AdTheorent's award-winning A\T Platform and capabilities are available through a first-of-its-kind Direct Access offering. Direct Access gives brands and agencies user access to the AdTheorent platform to self-optimize KPI performance, delivery and costs, supplemented by a level of service not typically provided by self-service solutions.
AdTheorent is consistently recognized with numerous technology, product, growth and workplace awards. AdTheorent was awarded "Best AI-Based Advertising Solution" (AI Breakthrough Awards) and "Most Innovative Product" (B.I.G. Innovation Awards) for two consecutive years. Additionally, AdTheorent is the only four-time recipient of Frost & Sullivan's "Digital Advertising Leadership Award". AdTheorent is headquartered in New York, with fourteen offices across the United States and Canada. For more information, visit adtheorent.com.
SmartCommerce helps CPG companies sell more online by replacing old-school "where to buy" on ads, social media posts, websites, and even packaging/samples with a single click that saves products directly into retailer carts. Built for the unique needs of CPG brands and their consumers, SmartCommerce intelligently eliminates both the friction and PDP cross-selling that has limited the potential for CPG digital purchases, by enabling simple one-click conversions of one or many products from any digital impulse point, into virtually any retailer cart. SmartCommerce is headquartered in Atlanta, GA, with offices throughout the US and Europe. To learn more about the SmartCommerce Click2Cart® technology, please visit: https://www.smartcommerce.co/.
2.Nielsen and Rakuten Intelligence