CVS Media Exchange (CMX), CVS’ retail media network, is beta testing a new self-service offering for its advertiser partners in collaboration with The Trade Desk.
While managed services will still be available to CVS’ advertisers, the new self-service option aims to expand the access and transparency of CMX by offering brands more autonomy and control over their on- and off-site campaigns, as well as measurement. The new offering also will provide advertiser partners with more ways to reach CVS ExtraCare shoppers across off-site channels, including programmatic display and connected TV.
“The unveiling of our new closed beta self-service offering will mark a groundbreaking leap for CMX, unleashing autonomy and efficiency for both our platform and select partners, revolutionizing campaign management and optimization,” said Parbinder Dhariwal, VP and General Manager of CVS Media Exchange in a statement. “With CVS Pharmacy serving as one of the most trusted brands in the country, and with deep insights available into the needs, preferences and shopping behaviors of nearly 74 million ExtraCare customers, advertisers can unlock quality reach and targeting precision.”
Among the self-serve capabilities that will be available to select CMX advertisers during the beta test are:
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- Audience access: Advertisers will be able to enhance the targeting precision of their campaigns with verified buyer audiences, starting with category and subcategory audiences during the closed beta phase;
- Pricing transparency: Audience and measurement costs will be fully detailed, giving advertisers deeper insight into their media spend and helping them reduce ad waste;
- Autonomous media activation: Advertisers will be able to directly activate and optimize media within the platform, through their demand-side platform (DSP) seat, in order to reach audiences at every stage of their path to purchase; and
- Performance insights: Supplier partners will be able to track the success of their digital campaigns, from exposure to attributed in-store and online sales.
“Our partnership with CVS Media Exchange will make it easy for brands and agencies to access the deterministic signals they need to reach verified buyers throughout their customer journey, as well as see the sales impact from their media investment,” said Ben Sylvan, VP of Data Partnerships at The Trade Desk in a statement. “Our partnership will make it easier than ever for advertisers to grow their brands by activating across premium environments, like CTV, all from a single point of entry.”
“Retail media offers myriad benefits to brands — most critically, bringing them closer to consumers’ full purchase lifecycle and closing the loop between media investment and key business metrics like sales,” said Megan Pagliuca, Chief Activation Officer at Omnicom Media Group North America in a statement. “Self-service offerings like that which CVS Media Exchange is bringing to market in partnership with The Trade Desk support our ‘gates-over-walls’ approach to the retail media ecosystem, and enable our teams and clients to have the speed, flexibility and control necessary to operate at the speed of modern commerce.”
To learn more about retail media, check out our full guide here.
