NEW YORK — Citi has launched an advertising platform that uses its card transaction data to help brands identify prospective customers, place offers across Citi’s digital channels and measure whether those ads lead to purchases.
The platform, called Citi Commerce Media, draws on what Citi says are 6.5 billion annual transactions across more than 700 spending categories. Citi said its U.S. consumer business serves more than 70 million customers, giving advertisers insight into spending on travel, dining, entertainment, retail and everyday purchases.
Citi said brands can reach customers through Citi.com, its mobile app and paid media properties, then use transaction data to measure campaign results.
Three Primary Capabilities
Citi described three principal capabilities:
- Finding potential customers: Using transaction data to identify audiences and signs of emerging purchase interest.
- Placing ads and offers: Reaching customers across Citi’s digital channels and other paid media.
- Measuring results: Linking campaigns to subsequent transactions to assess their effect on sales.
Citi said an initial campaign for an online retailer generated up to five times the incremental return on advertising spending. The company did not provide enough detail in its announcement to assess how broadly that result applies to other advertisers or campaigns.
‘Better Anticipating Needs’
“By leveraging Citi’s scale, transaction insights and measurement capabilities, we can help our partners better anticipate consumer needs, reach the right audience at the right moment and drive strong business outcomes,” said Abhinav Anand, Citi’s head of value cards, lending and commerce. He said the platform is also intended to deliver more relevant offers and ads to customers.
The launch follows Citi’s August agreement to acquire Kard, a commerce media and rewards company. Citi said Kard’s technology and merchant relationships could expand the platform’s personalized offers and rewards capabilities. The acquisition remains subject to closing conditions; Citi and Kard said they would operate independently until it closes.
