The evolving landscape of performance marketing: Insights from Rory Mitchell of Criteo

New Delhi — In a session where Criteo’s team discussed various strategies to integrate the open web, consumer insights, and partnerships for enhanced brand connections,  Rory Mitchell, General Manager of Global Performance Marketing at Criteo, highlighted the rapid growth and evolution of the performance media sector. 

With data solidifying the context he wanted to set, he proved how commerce media has experienced a substantial increase—with $30 billion in ad spend added over the past five years. “This growth has occurred at a faster rate than traditional search and social media, which took 14 and 11 years, respectively, to reach similar scales,” he said.

Criteo aims to turn every online interaction into a potential purchase opportunity, reflecting the evolving landscape where consumer behavior demands a cohesive and innovative approach to digital advertising. 

Mitchell commented, “With the rise of e-commerce and increased data consumption, Criteo is poised to leverage its capabilities to create seamless shopping experiences that resonate with today's digital consumers.

Mitchell noted that Criteo is focused on positioning itself within this growing field, emphasising that performance media will continue to exist while evolving towards a model he described as “predictive commerce.” Central to this shift is the integration of artificial intelligence (AI), which Mitchell stated is now a tangible reality for marketers. He explained, “Today, it is actually, I'm happy to say, real,” attributing this advancement to greater public trust and the credibility established by major players in AI.

The core objective for Criteo is to help brands connect with consumers throughout their buying journey in a predictive manner. He cited that 70 to 80% of their 16,000 customers report increases in engagement with brands they had not previously interacted with, contributing to revenue lifts of up to 25%.

Mitchell emphasised the flexibility offered to advertisers, stating, “We have lots of flexibility in terms of how many ads and recency and frequency, so that's really up to the advertiser who can control all aspects of that.” He elaborated on the importance of predictive video, which tailors ad delivery based on user engagement. “Every time a user shows an ad… if you're really not interested, it's not that you're going to want to see the ad constantly,” he said, underscoring the system’s adaptability based on consumer behavior.

While discussing challenges in the current advertising landscape, he acknowledged that many Chief Marketing Officers (CMOs) are questioning the effectiveness of their advertising dollars spent in an evolving digital environment. He spoke on the importance of modernising Internet advertising on the open web, noting that this remains a significant challenge due to traditional signals and the fragmentation of the market.

Mitchell shared that Criteo processes over 1 trillion transactions across 4 billion SKUs in 4,000 categories, a scale that underlines the potential for valuable insights. He introduced the concept of a shopper graph, a tool that Criteo utilises to normalise data from various sources and develop a commerce prediction model aimed at addressing the fragmentation within digital advertising.

The introduction of commerce audiences is another strategy Criteo employs to enhance advertiser capabilities. By allowing clients to create customised audience segments, Criteo aims to facilitate better measurement and performance tracking based on individual business KPIs. “There is an element where you find crossover for the right vertical and how you measure them together,” Mitchell stated, addressing the nuanced approach to performance evaluation.

Furthermore, he noted that on the performance side, Criteo is actively working with walled gardens to integrate various touchpoints in the buyer journey, reflecting a commitment to enhancing campaign effectiveness across platforms. Mitchell added that video engineering is also a focus, indicating the relevance of video content in driving performance marketing initiatives.

As the performance marketing sector continues to evolve, Criteo's initiatives reflect broader industry trends towards data-driven strategies, predictive engagement, and the ongoing challenges of navigating a fragmented digital landscape. 

Therefore, the policy framework for data privacy is also a key facilitator of the seamless functioning of an entity like Criteo. Mitchell concluded his session with a reiteration of privacy-safe solutions in Criteo’s approach. As per him, these principles are central to Criteo's strategy moving forward. “The audiences we offer around commerce are privacy safe,” highlighting the need for advertisers to adapt to the changing landscape while ensuring relevance and effectiveness in their marketing efforts.