Lowe’s, Amex talk ad innovations

Amex’s expansion of Amex Offers shows value of first-party financial data AUGUST 19, 2024 [Lowe’s exec talks retail media renovation, enhancing ad capabilities]( Lowe’s [retail media network]( rebrand isn’t signaling a new identity, but a confirmation of the relationship it's built with its advertising partners. “We’ve been on this three-year journey of evolving the network, and along the way, we really have looked to modernize the structure in terms of the relationship between merchandising and marketing,” said John Storms, GM, head of Lowe’s Media Network. “And so in so many ways, our rebrand is really symbolic of that deep connection and what our brands can expect from us.” Along with the rebrand to Lowe’s Media Network comes an expanded portfolio of ad solutions, including on- and off-site placements across the web, [mobile]( [social]( and physical [retail](. Story continues below. “We recognize the customer journey isn’t linear,” said Storms. “It doesn’t always start on the retailer’s site. So adding [email]( adding a partnership with paid search, expanding within our app, in-store audio—these are all pieces that help us connect to our customers wherever they are in the journey from inspiration to conversion.” - This is especially true for home improvement, where it can take months of research before a decision is made. - “Consumers might go to Pinterest or [Meta]( for inspiration, then go to the store and maybe even come back out without buying anything,” said Storms. Lowe’s is also enhancing its [measurement]( capabilities, leveraging its customer data and insight into marketplace trends to advise advertisers on effective placements both on and off its channels. “We’ve been leading with an insight-centric strategy, coupling our media plan recommendations with on-site,” said Storms. “And what we’re seeing is brands who are engaging in cross-channel campaigns are seeing higher returns, because they’re reaching consumers at all different points of their journey.” Ultimately, Lowe’s wants to help advertisers achieve closed-loop measurement and give them access to metrics beyond the basics. “Because we’re looking at online and in-store transactions and tying that back to a real customer, we’re not only able to provide insight into some of the table stakes metrics like returns on ad spend, but also metrics like new customers, affinity, and lifetime value.” [Read online]( [Amex’s expansion of Amex Offers shows value of first-party financial data and points to FMN potential]( American Express is expanding Amex Offers, which allows advertisers to serve card holders tailored deals. The expansion comes on the heels of Chase and PayPal launching [financial media networks (FMNs)]( a trend we expect will continue. Amex’s updates include offers for new card members and a new website for advertisers, expanding upon its legacy ad platform. Amex Offers uses attributes, rather than SKU-level data, to create audience segments for its ads, which are then delivered in-app, on its website, and via [email]( said Erin Frankcombe, vice president and general manager of Amex Offers and business insights. For example, Amex worked with a large grocery retailer to target frequent but not loyal customers, offering discounts to encourage higher frequency among those who shop at a retailer once a month and discounts that incentivize larger basket sizes among regular customers. Amex is not launching a FMN, which would leverage first-party data for on- and off-site ad targeting. “We’re always assessing the landscape and how we’re continuing to evolve this,” said Frankcombe. “We are very much aware that we have a highly engaged audience and an audience that trusts us.” [Read online]( Email sent to: {EMAIL} If you cannot view the HTML newsletter, [please read it in your browser here](. [Become a Premium Subscriber]( | [Advertise with us]( [Manage your email preferences]( | [Unsubscribe]( | [Terms of Use]( | [Privacy Policy]( ©2024 EMARKETER, One Liberty Plaza 9th Floor, New York, NY 10006 [LiveIntent Logo]( [AdChoices Logo](