PALO ALTO, CALIF.--(BUSINESS WIRE)--
CommerceIQ, the leading e-commerce management platform provider, announced an integration with Instacart, the leading online grocery delivery platform in North America. Brands can now drive market share on this channel via a new API integration and product offering called CIQ Advertising for Instacart. The new product enables brands like Pilgrim’s Pride to obtain real-time visibility across all their campaigns on Instacart Ads and leverage CommerceIQ’s AI capabilities to apply automations in bulk to optimize Featured Product ads on Instacart.
"CommerceIQ’s integration of the Instacart Ads API bodes well for the fast-growing online grocery segment," said Ryan Mayward, Vice President of Ad Sales at Instacart. “As consumers continue to flock to Instacart to take advantage of the breadth of offerings and retailers that we support, platforms like CommerceIQ will make brands more efficient and effective, not only in reaching their target audience, but in ensuring that their e-commerce operation is optimized for success. We are excited to welcome CommerceIQ to the Instacart Ads API Partner family."
CIQ Advertising uses AI to convert business objectives into recommendations and automates the decision-making process so brands can operate at algorithmic speed, being always-on and retail aware.
The new CIQ Advertising for Instacart offering provides a single view of all ad campaigns that are running on Instacart Ads and allows users to gain visibility on top performers across campaigns, keywords or SKUs without having to manually drill down into each campaign. Brands can track advertising performance across different purchase journeys on Instacart such as search, browse and impulse buy. Leveraging advanced machine learning algorithms, CommerceIQ classifies consumer searches into branded, category or competitor keyword types to understand purchase intent and identifies highly incremental searches where there are opportunities to drive spend for maximum ROI. On top of this holistic dataset, users can add a rule based on any performance metric, purchase journey or keyword type and take bulk actions with a single click instead of manually managing this process one campaign or keyword at a time. Through this combination of reporting and automations, customers can improve the efficiency of their advertising campaigns, drive efficiency and effectiveness of their advertising campaigns, and more importantly, drive incremental sales.
Taken together, these capabilities enhance the power of the Instacart Ads API, driving value and immediate results for brands running extensive campaigns on the platform.
“CommerceIQ’s e-commerce management platform provides substantial benefits, giving us the ability to understand performance across granular targets, including branded, generic and competitive keywords and apply bulk automations to optimize our campaigns in line with our business objectives,” said Rizwan Akbar, Head of E-commerce at Pilgrims. “Within 3 weeks of launch, we have seen incremental ad sales and ROAS improve by 53% while reducing our cost per click by 67%. These results are attributed to automations that optimize bids on an hourly basis and according to consumer spend patterns and keyword improvements, among other metrics.”
“We announced our omni-channel offering back in April, and since then we have consistently added capabilities to our platform that reflect our customers’ need for managing their e-commerce business across all retail media,” said Guru Hariharan, CEO and Co-Founder of CommerceIQ. “We are committed to ensuring automation at scale regardless of channel and today’s announcement is one more step towards fulfilling our vision. We are excited to be able to work with Instacart Ads to drive growth in one of the fastest growing segments in e-commerce.”
For more information on how to get started with CommerceIQ’s Instacart Ads offering, please visit https://blogs.commerceiq.ai/Instacart-Partnership.
CommerceIQ leverages machine learning, analytics and automations to optimize the e-commerce channel across supply chain, marketing and sales operations functions to win the consumer at the moment of purchase and drive profitable market share growth. CommerceIQ has been adopted by leading consumer brands accounting for billions of dollars in e-commerce sales and marketing spend, including Kellogg’s, Nestle, Colgate-Palmolive and Spectrum Brands. These brands rely on CommerceIQ’s machine-based commerce technology and business processes, which are purpose-built to tune e-commerce algorithms, collaborate and share data-driven insights in real-time in response to changing variables across hundreds of products on leading retail sites. Using CommerceIQ as a single source of truth, customers have driven 40% increase in incremental sales, 20% improvement in profitability and 20% increase in Share of Voice on Amazon and other online marketplaces. For more information, please visit CommerceIQ.ai.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005236/en/
Copyright Business Wire 2021