Walmart Focuses on CTV Ad Personalization
Walmart is doubling down on connected TV (CTV) ads through a new partnership focused on personalizing ad creative.
The retail giant has tapped Innovid — an independent advertising platform that powers converged TV (i.e., the combination of linear TV, connected TV and digital video ads) — to integrate Innovid’s personalization capabilities within Walmart DSP, the demand-side platform of its retailer media network, Walmart Connect.
In addition to providing Walmart Connect advertisers with creative personalization, optimization and interactive experiences for placements like CTV, Innovid will also offer ad delivery services to ensure quality video experiences for the end consumer, per a media release from Innovid.
"As the influence of retail media networks grow, we are thrilled to integrate Innovid's capabilities within the Walmart DSP to further enhance the relevance and effectiveness of CTV ad creative and provide independent ad serving to ensure the highest quality and consumer experience, across all devices," Krista Panoff, senior vice president, global enterprise development, Innovid, said in the release. "Through this partnership, our customers will be able to create even more personalized and relevant ad campaigns that drive better results, while maintaining a seamless, efficient workflow."
The partnership applies to Walmart DSP's off-site inventory, allowing brands and agencies to connect with the retailer’s customer base through a variety of channels and platforms. It also connects and measures both online and in-store performance, offering targeting, reporting and omnichannel insights down to a granular level.
"Through Walmart DSP, marketers can more effectively reach Walmart's millions of customers across inventory, optimize their media spend, and connect with consumers on highly sought-after platforms like CTV and beyond," Panoff added.
Integrating Innovid's Dynamic Creative Optimization (DCO) technology with the Walmart DSP allows advertisers to automatically enhance content to deliver the most effective message and design to each customer, in real time. Innovid's DCO solution, which is powered by AI, enables more engaging and interactive CTV creative, per the release, which is particularly important as investments in CTV continue to increase.
The new capabilities are immediately available to Innovid customers who are already advertising through the Walmart DSP, which is powered by The Trade Desk.
U.S. digital retail media ad spending is projected to increase by 25.8% and reach $51.36 billion this year, according to eMarketer’s 2022 “Retail Media Ad Spending Forecast.” By 2024, it’s projected to make up almost 20% of total digital ad spend as advertisers look to invest more in media environments powered by first-party data.