- il y a 2 ans
Minted a rencontré la patronne du géant français du retail media. L'occasion de faire le point sur le développement de la société.
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00:00Bonjour à toutes et à tous, c'est Minty d'EtatCan pour cette nouvelle édition des
00:09CanLions que nous avons le plaisir de couvrir quelques jours durant à travers des débriefs
00:14sur les grandes annonces de l'événement, évidemment des rencontres avec des leaders
00:17de notre secteur puisque Can est aussi un festival avec beaucoup d'acteurs américains.
00:21Et aujourd'hui, j'ai le plaisir d'interviewer la CEO de Criteo, Megan Clarkon.
00:25Hi Megan, nice to meet you.
00:26Hi, good to see you.
00:27So, as I came on board, I saw that there were this banner saying, welcome to Commercetopia.
00:33Would you be kind enough to tell us what is exactly Commercetopia according to Criteo?
00:40Think of it as the quintessential place where commerce and advertising and monetization
00:46all comes together.
00:48The use of the data to find people on their shopper journey and transact with them along
00:54that path and bringing that capability to the different people who are here at Can on
01:01both the buy side and on the sell side.
01:05That playground is where we find commerce inside of media and that's what it's all
01:10about.
01:11And how hard can it be to make those two words come together because retailers are not really
01:17used to monetization, advertising and on the other hand, advertisers are not really used
01:23to handling with retailers.
01:25So I guess that's where Criteo comes into play.
01:28You need this place to meet and this partner to make those two kind of different people
01:34to meet.
01:35Yeah, it is about that unification and bringing not just the retailers but the whole industry
01:39together to work in this way and Criteo has been working on this now for a number of years
01:44and retailers are really stepping up to the plate to enjoy this opportunity to monetize
01:52the audiences that are coming to their commerce sites by placing advertising there.
01:57They see this as an opportunity to do something with the data that they've had for a very
02:03long time, to offer it up so that brands and advertisers can advertise on retailer's sites
02:10and that consumers can get better results and better opportunities as they come to those
02:15sites.
02:16So this is only getting bigger and bigger and bigger.
02:19You mentioned the opportunity for this type of companies to use and monetize their data.
02:26So RetailMedia started with traditional retailers.
02:29Now we see that some banks just like Chase, PayPal, actors from FinTech economy, travel
02:36agencies, hospitality actors trying to go into RetailMedia.
02:41What will be, according to you, the next type of players coming into this RetailMedia landscape?
02:46It's a great question.
02:48So RetailMedia we see as sort of being at the center, as you said, as the starting place
02:53for all of this.
02:55But more and more there are commerce players on the outside that are taking this opportunity
03:00as well.
03:01And one that I'll mention off the top of my head is Uber.
03:05So Uber have a delivery service that have an active audience and they offer now advertising
03:12through Criteo on Uber Eats to that audience.
03:16It opens an opportunity for advertising dollars for Uber.
03:21It opens up an opportunity for brands to advertise and be seen by consumers.
03:27And it opens an opportunity for consumers to get relevant contextual advertising as
03:32they go to Uber Eats.
03:34All of this is about finding people who are on this shopper journey, who are actually
03:39looking to buy something and then giving an offer to them through advertising as they
03:45go through that journey.
03:47So Uber is a kind of company which is dedicated to FMCGs.
03:52Do you see other companies trying to go into RetailMedia, like Hospitality, Airlines, Banks?
04:00Do you talk to those kind of people to find ways to help them monetize their audiences?
04:06Yeah, we do.
04:07It's a big part of monetizing their audience and actually using their data and getting
04:12a better response and experience for anybody coming to their commerce site.
04:17For us, Commerce Media is an opportunity for anybody who's got content that is being seen
04:23by an audience that they can monetize.
04:25I'll give another example, less known in Europe, but Ticketmaster.
04:32So the sales of tickets, for instance.
04:34It's an opportunity that offers Ticketmaster the ability to monetize their site, not just
04:42to sell tickets, but to show advertising which is contextually interesting for consumers
04:48that keeps them coming back in upsells and cross-sells and offers an opportunity for
04:54brands and advertisers to be seen in that environment.
04:59That would be only endemic advertisers who are setting up events or that could also work
05:03for non-endemic, I don't know, let's say someone who's trying to sell a car, someone who's
05:08trying to sell whatever, a journey to another place, or for the moment it's just endemic?
05:13It's a great question.
05:14The opportunity is open to both sides and what we normally find is that the advertising
05:21that appears on a retailer's site are brands that are already affiliated with the retailer
05:27or they're for sale in their stores.
05:29It's easier also.
05:30Yeah, but as you extend out and it becomes something where you're looking, you're on
05:35the travel site, then there's brands appearing on that site that are not necessarily related
05:41to that site, but see an opportunity to speak to the consumer.
05:44So coming back to Criteo, could you maybe update us on what will be the biggest stuff
05:51you're going to disclose on the second part of 2024?
05:55What are you working on?
05:58What is your roadmap when it comes to new products, new technologies?
06:01We've come a long way.
06:03If you think about how long this journey has taken us so far, about four years in
06:08the making through acquisitions, we've built out our commerce media platform which addresses
06:14both the sell side and the buy side of the advertising world in a commerce environment
06:20and we continue to add products and services to that environment and that's critical to
06:27the 225 clients that we have on the commerce media side of the business.
06:34And so we continue to do that.
06:36We're very focused on addressing the need to drive demand onto those retail media sites
06:43and commerce media sites and we're very focused on unification of that environment.
06:49On the other side of the house, which is our targeting business, of course we're very
06:54focused on making sure that we're in a good position around the changes to addressability
07:01and we are laser focused on the work that we're doing using AI.
07:05We've had a very important AI shop inside of Criteo now for nearly 10 years and that
07:14team is working very hard to make sure that our targeting is producing the best performance
07:20results that we can possibly find with or without the use of cookies.
07:25So you mentioned the long journey you took, that's right, at some point people used to
07:29say that Criteo was kind of a one trick pony because it was really dedicated to retargeting.
07:34Talking about retargeting, how well are you now prepared for the first party cookie duplication?
07:43What size of your business is already third party cookie-less?
07:46Can you tell us more about that?
07:48Yeah, so we've been working on this one again for four years plus since Google announced it.
07:55And of course you know that the target dates have shifted, but we've stayed close to Google
08:02for all the right reasons to make sure that we are ready.
08:06We see less and less of our business affected by this and the reason is because we have
08:14so much of our business now is not cookie dependent.
08:17The retargeting business is having less and less cookie dependency because of the size
08:26of the browser usage inside of that business is declining and the three prong strategy
08:35that we have in place to mitigate against cookie deprecation is ready for us to deploy
08:42once they make that change.
08:45So we feel very good about the entire business, the direction that we've taken and the mitigation
08:50that we've put in place for our retargeting business to make sure that we can stay consistent
08:55for our clients.
08:56Okay, and what would you say are the pillars of your cookie-less strategy?
09:00I guess that there is like the Criteo ID graph, privacy sandbox, all the tools from Google,
09:06contextuals.
09:07Maybe can you enlighten us?
09:08Yeah, you're close.
09:09That's good.
09:10What am I missing?
09:11It's a three pronged approach.
09:14The first prong is first party data.
09:17So in many places we have access to first party data through just the work that we do
09:24with our publishers and the relationships that we have with them.
09:30We have over 6,000 publishers that contribute to our graph and so that's one pillar.
09:36The second pillar is the work that we do inside of closed walled garden type environments.
09:46So social media platforms that we use for access to their inventory and also now retail
09:53media as it gets bigger.
09:55That's a closed environment of which we have direct access to first party data.
09:59And then the third pillar of course is the privacy sandbox and utilizing the framework
10:05and the tools that come out of Google as part of the privacy sandbox to further mitigate
10:11from any kind of exposure to loss of those cookies.
10:14I got to say you are one of the few companies who are really bullish on the privacy sandbox
10:19because to be honest in France there are not so many companies.
10:23Maybe because they are also lacking the resources because it's very resourceful.
10:26But I was wondering what makes you confident on the privacy sandbox?
10:30Why are you like so eager to test this solution that appears not to be really attractive to
10:36most of the players of the ad tech scene?
10:38Well remember that Chrome makes up about 60% of the browsers used.
10:42So you can't, if you can avoid it, you can't avoid it.
10:47And so it's been of interest to us of course to be involved in the work that they're doing
10:55to come up with the solutions so that they cover use cases not just ours but others as well.
11:01And then to be able to test what's coming out of that privacy sandbox to make sure
11:06that everybody is aware of how fundamentally purposeful it will be.
11:15We think that that's the right thing for us and the right thing for the entire ecosystem.
11:20And so we'll continue to lean into that.
11:23And if Google postpones again the deprecation, you are still testing the privacy sandbox?
11:30Of course, yeah.
11:31If they were to delay it, they would delay it for a reason and we would continue to move along with them.
11:36Again, Chrome being such a massive part of the market.
11:39One thing you didn't mention in the pillars of your third party cookie list strategy would
11:43be like the shared ID.
11:45If I recall correctly at some point, Criteo was part of the UID2 which is called EUID
11:52in Europe.
11:53Where are you at?
11:54Are you still active when it comes to this shared ID?
11:58We're open and so anywhere where it makes sense for us to connect to an ID and be able
12:04to determine who's on the other end of that, we will.
12:09But we can't do all and of course the marketplace would be better not with too many but with
12:16a set of standards that allow you to continue to do what you do, continue to function.
12:22And most importantly, have continuity for clients so that they don't see this big
12:28step change once the third party cookies are switched off.
12:33So we'll go in the direction we need to go in but we can't go in all of them.
12:38We choose and the ones that we're choosing is of course the three-pronged approach.
12:43You mentioned your clients in France at least.
12:46Most people think that advertisers are not really concerned about the deprecation of
12:50third party cookies.
12:52They say that it's mainly like a publisher or ad tech problems that agencies and advertisers
12:57don't seem really concerned.
12:59What would be your point of view on that matter?
13:02Do you feel like your clients are really affected by this change and concerned?
13:08I think that it's important to be aware and to not dismiss.
13:14I think the notion that ad tech will solve it is okay for those who perhaps are partnering
13:22with ad tech providers that are making sure that they solve it.
13:26But there's a very big ecosystem out there and so the important thing for advertisers
13:31to do is to make sure that they're aware, that they're across their partners.
13:35They know the ones that are leaning into this and they put themselves in a position where
13:42suddenly things don't become problematic for them.
13:46They still want to be able to run advertising campaigns, get performance, get return on
13:51investment post-cookie deprecation and so that's important.
13:54They need to own that.
13:55That's important to them.
13:57And hopefully they will still find it on the open web because that's one of the big concerns
14:01that the deprecation of third party cookie might lead from some budgets to go to social
14:09platforms which are already super strong.
14:11So that's why it's also important to find a way.
14:14I would also say it's an opportunity for commerce media because commerce media doesn't use
14:19third party cookies.
14:20Yeah, well it needs for audience extension but on-site, you're right, it doesn't need it.
14:25Yes, exactly.
14:27And so for us, the on-site third party cookie, being able to not have to focus on third party
14:36cookies on-site retailers and then being able to use the three-pronged approach when we're
14:41going off-site or audience extension is an important strategy to have.
14:46So Cannes is always also a good place to find new players, new technology.
14:50Is there already one technology or company you are eager to meet or have you already
14:57met the next unicorn?
14:59Maybe could you tell us a little bit more about your agenda in Cannes?
15:03Yeah, well I like to meet everybody that's there and I said to somebody earlier, it is
15:08such a great place.
15:10It's a melting pot and it's a place where you come together from all over the world,
15:14you see friends that you haven't seen for 12 months, it's a great opportunity to catch
15:19up and see where people are at, see what they're doing.
15:23For me, I'm really curious about the work that's going on with AI.
15:28I know that there's a lot of talk about it but there's nothing like sitting face to
15:31face with somebody and really going into that agenda.
15:34So the companies that are really leaning into that around advertising, around curation,
15:39around context and content are always of interest to me.
15:45What about Gen AI?
15:46Because we saw like Performance Max, Meta, Google always showing new products and find
15:52ways to help advertisers to create more easily new ad formats, that kind of stuff.
15:58Can we imagine at some point that on the retail media platform, maybe advertisers can find
16:04ways just to upload one ad unit and like a Gen AI tool to help them change it in all
16:10the formats that we need?
16:12Are you working on that kind of tool?
16:13Absolutely, yeah.
16:15And others.
16:16So some of the things we're doing is using Gen AI to understand chatbot conversations
16:23in depth so that we can surface ads, promotions, offers to the person who's having that conversation
16:30at the right time and the right format.
16:32Inside the retail media website, for instance?
16:34Inside the retail media website, inside of the chat window.
16:37So just one example of a lot of really interesting things that having access to that amount of
16:44data that we have when we're working with a retailer just offers up all sorts of things
16:49to do on top of it using Gen AI.
16:53And they have no worries like sharing you that kind of information, opening the gates
16:58to an actor like retail, you saw that the mentality may be switched?
17:03Retailers are always careful.
17:05So should everybody be.
17:07But for us, our partnerships with retailers run over time and being comfortable the way
17:15that we're using the data to ultimately offer them a new product, offer them performance,
17:22offer their brands a return on investment is the sort of language that we speak, which
17:28means that the access to their data, to be able to do those things for their business
17:35becomes something that they're more comfortable with.
17:37Okay.
17:38Maybe one last question because we're in France and Credo is like a French company after all.
17:43How important is France for Credo?
17:46How critical is it?
17:48What's your relationship to France?
17:51France is very important to us.
17:53You know that our headquarters is here and we have the bulk of our R&D team are here
17:59and we have a big office in Rue Blanche and we've just recently hired a new MD for France
18:06and she's got a very good caliber.
18:10She's got good relationships across the industry, both on the sell side and the buy side.
18:14We can't wait to see her in action and we'll give her all of the support that she needs
18:19to get the job done and to help the retailers and commerce industry inside of France.
18:25I'm really excited about that, looking forward to what that produces.
18:29Thank you very much, Megan.
18:30It's a pleasure.
18:31Thank you.
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