AdExchanger Gopuff Goes In-House
Aug 27, 2024
Daniel Folkman, the SVP of business at Gopuff, has helped transform the company’s advertising landscape. He discusses whether we’ve hit peak retail media or if it's merely a sign of a thriving market. Folkman shares insights into Gopuff's innovative ad strategies using AI, the shift to in-house advertising, and the challenges of maintaining media quality in offsite placements. He also delves into the development of unique private label products and personal anecdotes about his own Gopuff delivery experiences.
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Peak Retail Media?
- Retail Media Networks (RMNs) are proliferating, approaching market saturation.
- Consolidation is likely, but the acquisition of one retailer's RMN by another is improbable.
AI-Powered Advertising
- GoPuff uses AI/ML to personalize ads, improving relevance and performance.
- This approach increases click-through and conversion rates while lowering costs.
Basket Analysis
- GoPuff analyzes customer baskets to identify product combinations and suggest relevant items.
- For example, customers buying NyQuil might also see tissues or soup.