Swiggy has consistently positioned itself as a leader in delivering convenience and enhancing customer experience. Since its inception, the platform has pioneered various services, including InstaMart – its food and grocery delivery, as well as unique offerings like Genie, its pick-and-drop service. Swiggy’s core philosophy revolves around prioritizing convenience over pure business goals, ensuring that every expansion is designed to make life easier for its users.
On the business front, Swiggy’s growth has been remarkable. Notably, its new venture, InstaMart, is seeing a rapid annual growth of approximately 77%, with projections indicating a sustained growth rate of 40-45% year-on-year. This upward trajectory highlights the immense potential in the evolving grocery tech and online retail industry, with Swiggy playing a pivotal role in shaping its future.
Importance of Off-site Retail Media for Swiggy
Off-site retail media has become an essential strategy for businesses across industries, including Swiggy and beyond. The ability to follow and engage the right users at the right time, wherever they are in their journey, is key to driving successful outcomes. This approach involves enhancing user experiences and touchpoints through a variety of data sources, spanning retail, social, and commerce media ecosystems. The core of this strategy lies in integrating deep analytics with personalized communication and precise distribution. In today’s landscape, smart advertising hinges on measurement, which remains a critical factor in determining the effectiveness of any campaign.
Why Swiggy Decided to Go with Criteo
Swiggy has announced a significant extension of its long-standing partnership with Criteo, reinforcing the collaborative relationship between the two companies. “The way Criteo has consistently pushed forward to enhance their offerings has made them our clear priority over any other partner. As I mentioned, this partnership is an extension of our existing relationship. Additionally, Criteo’s ability to penetrate diverse markets, engage users effectively, and evolve their technology for personalized communication and smart distribution has been a key factor in our decision to continue with them over anyone else,” said Kashish Vasandani, Director Growth, Swiggy.
Success Story of Kellog’s with Integration of Criteo and Swiggy’s Offsite Retail Media
Kellogg’s was looking to make strategic moves to expand its reach into more households by introducing new products and enhancing visibility among targeted consumer cohorts, particularly in the burgeoning quick commerce sector. This strategy emphasizes personalized communication, precise user targeting, and optimized rewards, which are key considerations for brands at present.
In this context, Swiggy’s partnership added significant value through its deep analytics capabilities. By leveraging insights into user preferences and behaviors, Swiggy integrated its data with Criteo’s advanced platform. This collaboration enabled dynamic advertising tailored to reach the right consumers, fostering a connection that in-turn lead to impressive results. “Within 15 days, this strategy reached approximately 5.8 million users, demonstrating the power of Criteo’s technology,” said Medhavi Singh, Country Head, India, Criteo.
Moreover, the partnership generated 25% new-to-brand rate and instant rewards valued at 1.9. “The synergy between Swiggy and Criteo showcases the potential benefits for brands looking to enhance their market presence. As Kellogg’s taps into this robust framework, the confidence it inspires among large corporate partners highlights the effectiveness of this innovative approach, paving the way for broader scaling across various brands,” added Singh.
Goals for Kellog’s
The goals for this initiative was focussed on achieving high reach while maintaining a healthy New to Brand ratio, ensuring that new customers are effectively engaged. Additionally, there was also an emphasis on optimizing the Return on Advertising Spend (ROAS) to maximize the impact of marketing efforts.
The Approach
- Tapped into relevant Swiggy user cohorts of breakfast ordering audiences using precision-targeted segments.
- Leveraged Criteo’s Dynamic Creative Optimization (DCO) to enhance ad relevancy and timing for co-branded dynamic campaigns at the user level.
- Expanded the target user base by utilizing behavioral insights derived from Brand Affinity Reports, ensuring data-driven audience segmentation for more effective reach and engagement.
