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Variety
  • 1 year ago

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00:00How do you and your teams approach how best to stand out and break through the audiences?
00:04What does that mean visually and strategically?
00:08How might your approach differ depending on different audiences and different segments
00:12of consumers?
00:14From an audience perspective, I guess there's two types of audiences that we're talking
00:17about here.
00:19The media business, the advertising business at CMX, we're very much focused on engaging
00:26the extra care user base, so 74 million consumers that use extra care.
00:34We have significant latitude and longitude on those consumers.
00:39Average tenure of an extra care consumer is about 10 years.
00:42How do we differentiate that?
00:44Loyalty is a very strong way of transacting, especially in a high-low retailer like CVS,
00:52but more importantly, those rewards in exchange for the way in which we garner that loyalty.
00:58The other side of the fence is the business, which is our advertising business.
01:04We're trying to cut through there across what is becoming a really crowded retail media
01:09space.
01:10There's over 200 retail media networks now.
01:16There needs to be clear differentiation there.
01:18There's two areas where we differentiate in a big way.
01:22Number one, it's our loyalty program and the way in which we engage with our loyalty.
01:27It's not just loyalty in a small capacity, it's loyalty at scale.
01:32The second way in which we differentiate is around measurement and our leadership position
01:37in measurement.
01:39What we've found is in the industry, and if we're really going to compete as retail media
01:44with other more established mediums that have been around for decades, we've got to
01:51be able to be able to deliver measurement that is stronger, that is much more encompassing,
02:00that is full closed loop attribution, and be able to report on that realistically, but
02:07more importantly, confidently, and honestly with the market.
02:11We've really, really led the charge around that.
02:13We've worked with the IAB, we'll continue to drive our differentiation there.
02:17Again, I would just say there's two sides to the way in which we think about our business.
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