AdTheorent, a digital advertising leader using advanced machine learning technology and solutions to deliver real-world value for advertisers, announced a partnership with SmartCommerce, provider of the only path to purchase built and optimized for the unique needs of the CPG category. Utilizing SmartCommerce’s Click2Cart Solution, AdTheorent enables digital ad functionality which allows consumers to seamlessly add products to retailer shopping carts, which helps combat cart abandonment and increases conversion rates for CPG brands. AdTheorent’s machine learning and data science capabilities identify consumers most likely to engage with a given digital ad, and the Click2Cart functionality makes it easier for those consumers to convert.
The Current Landscape
E-Commerce represents a huge opportunity for CPG brands as online spending is growing quickly and will account for more than 6 percent of overall spending by 2021 (more than $60 billion).1 Given the COVID-19 pandemic, e-commerce is increasing exponentially — online sales for CPG products have risen 56% for the week ending April 18.2. However, nearly 90% of consumers abandon before the cart when using traditional, multi-click paths to purchase,3 leading to lost revenue for CPG brands.
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AdTheorent’s Solution
To identify and reach in-market CPG shoppers, AdTheorent’s data science team builds custom machine learning models which are deployed into AdTheorent’s platform for execution. AdTheorent models can also leverage brand-specific parameters (demographics, psychographics, etc.) as well as geo-location or other targeting parameters. AdTheorent’s predictive targeting drives results by reaching consumers who are most likely to purchase a CPG product. Once AdTheorent’s ML Platform serves the ad, the consumer can simply click the ad to put the advertised product in the retailer shopping cart. Moving beyond typical “where to buy” buttons and multi-click paths to purchase, this functionality reduces commerce friction by enabling a one-click conversion. SmartCommerce is integrated with all major e-tailers including Amazon, Target, Instacart, Costco, CVS, Walmart, Walgreens and many more.
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“AdTheorent’s unique ability to reach in-market shoppers through advanced machine learning and predictive targeting, coupled with the ease of SmartCommerce’s one-click conversion functionality within elegant digital ad units designed by AdTheorent’s in-house creative capability, Studio A\T, will drive superior business outcomes for our CPG advertisers,” said Jim Lawson, CEO of AdTheorent.
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