Microsoft acquires e-commerce advertising vendor PromoteIQ
Microsoft has acquired vendor marketing platform PromoteIQ. PromoteIQ is an automated product marketing platform that enables brand manufacturers to run sponsored ads on participating retailers’ e-commerce sites to generate visibility and revenue from those sites. The company offers analytics dashboards both retailers and advertisers to track campaign performance.
The capability is similar to that of HookLogic, which was acquired in 2016 by Criteo. Google experimented with running its product listing ads on retailer sites through a program called AdSense for Shopping, but it hasn’t gone anywhere since launching in 2014. Amazon, and now Walmart, have their own sponsored product ad offerings.
Why we should care
Programs aimed at supporting retail customers is an area of focus for Microsoft, and the PromoteIQ acquisition fits into this effort. Microsoft is looking to pair its AI and machine learning technologies with PromoteIQ’s targeted ad placement capabilities and expects the integrations to be completed later this year. Additionally, it can help Microsoft Advertising address consistent calls from advertisers for more reach.
Microsoft Advertising offers product ads on Bing.com, but its limited reach put its reach behind Google and Amazon. PromoteIQ’s portfolio of clients includes thousands of global brands and retailers.