CVS Media Exchange Launches Self-Serve Offering
CVS Media Exchange (CMX), CVS Health’s retailer media network, is beta testing its first self-service offering for advertisers in collaboration with The Trade Desk, an independent media buying platform.
The collaboration, unveiled at Cannes Lions International Festival of Creativity on June 17, is the retailer’s latest move to expand access to CMX, offer more transparency to brands and enhance campaign control/autonomy, measurement and reporting capabilities.
[ALSO READ: CVS Media Exchange Moves to Standardize Metrics]
The offering will provide select advertisers more ways to reach CVS' nearly 74 million ExtraCare loyalty members across off-site touchpoints, including programmatic display and connected TV (CTV), according to a media release shared with P2PI. Other self-serve capabilities include:
- Audience Access: Advertisers will be able to enhance campaign targeting precision with verified buyer audiences, starting with category and subcategory audiences during the closed beta phase.
- Pricing Transparency: Transparency of audience and measurement costs provides insights into media spend and reduce ad waste.
- Autonomous Media Activation: Advertisers will be able to directly activate and optimize media within the platform through their DSP seat, reaching audiences across the path to purchase.
- Performance Insights: Suppliers will be able to track the success of their digital campaigns from exposure to attributed in-store and online sales.
In addition, managed services will also still be available for all on-site and off-site channels.
“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,” Ben Sylvan, vice president, data partnerships, The Trade Desk, said in the release.
“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,” added Megan Pagliuca, chief activation officer, Omnicom Media Group North America. “Self-service offerings like [CMX’s] 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.”
Recent Related Moves
CMX is also closely collaborating with the Interactive Advertising Bureau (IAB), which finalized its set of guidelines (and recommendations) for retail media and measurement in January. CMX recently became the first health-and-wellness-focused retailer media network to measure and report attributed sales based on viewable impressions, as recommended in IAB/MRC’s guidelines.
CMX’s dashboard also grants select suppliers access to a comprehensive data set and recently launched an iROAS beta program that leverages one of the IAB-recommended incrementality methods.
This news comes after CMX joined forces with Pinterest and LiveRamp on data clean rooms. CMX is the first network in the health and wellness space participating in this initiative, which now allows CMX to provide partners with attributed sales on the platform for the first time.