2021 is a year of firsts for Cardlytics. On the heels of the company’s first two acquisitions, Cardlytics held its first Investor Day on June 10, where the executive leadership team shared their vision to become a leading digital marketing platform.
To unlock growth, we put the needs of customers first.
“In order to command a sizeable shift in dollars, the market expects automation, simplicity, measurement, insights and rich creative,” said Michael Akkerman, Chief Product and Strategy Officer, ahead of announcing the new self-service product Cardlytics’ Ad Manager. This new and simplified platform streamlines campaign creation and management. It also provides targeting options that drive business and marketing outcomes, like new business acquisition. The Ad Manager provides a robust reporting suite that makes it easier to digest campaign performance metrics, encouraging further investment in Cardlytics. “The Cardlytics Ads Manager lowers operational overhead and enables scaled performance, no matter who is in the driver’s seat.”
Ross McNab, President of North American Sales, talked further about Cardlytics’ growth opportunities. This three-pronged strategy focuses on:
- Harnessing a right-to win strategy by delighting the client and delivering incremental return in a high-quality channel with best-in-class service and insights.
- Unlocking growth segments through new fit-for-purpose solutions aided by partnerships and the acquisitions of Dosh and Bridg.
- Driving greater value and engagement through product innovation and an evolving bank strategy to address new market segments and budgets.
“Competing in the broader digital advertising landscape is not just an opportunity, but a mandate,” said McNab. He reinforced that the company is in a growth market with digital ad spend in the US forecasted to grow by 25% to $191B in 2021*.
“The smartest marketers demand proven incremental omnichannel return and this is where Cardlytics shines. Not only do we drive efficiency, but also effectiveness. We create topline impact to our clients’ businesses, no matter the sales channels.”
Banks are asking for more of what we do best.
On the bank side, Farrell Hudzik, EVP of Financial Institutions, spoke about the refocus on bank partnerships. “Banks want more and differentiated content and engagement,” said Hudzik. “Cardlytics is investing heavily in major US-based bank partnerships by evolving the bank program, expanding offer and loyalty experiences, and enhancing user experiences and engagement. Additionally, Cardlytics is committed to serving and growing neobank and fintech partners and expects to double the number of signed neobanks by the end of the year.” Hudzik wrapped her presentation by previewing plans for 2022 and beyond.
The Bridg acquisition enables the Cardlytics platform future SKU/transaction integration opportunities. Additionally, Cardlytics will evaluate new products and services to add value for bank partners, bring on local content and commerce experiences, and deepen opportunities with non-bank partners.
The value of Open Banking
Peter Gleason, President of International Operations, gave an update on Cardlytics’ international expansion plans and explained the importance of Open Banking, the European legislation that allows consumers the ability to control and opt-in to sharing their financial data with regulated third parties.
“Open Banking is important to Cardlytics for two reasons,” said Gleason. “Firstly, momentum is growing and a number of markets around the world have implemented or are in the process of reviewing legislation that mandates Open Banking.” A number of these markets are looking at both the UK’s technical and governance model as a template for their own implementation. “Propositions across the financial institution landscape are emerging, however no one has established a scaled solution for account linked offers, and this is what provides us with a competitive advantage.”
Second to the growing momentum, Gleason also detailed the opportunity that lies in the creation of a new publisher network, which would expand Cardlytics’ monthly active users (MAUs) towards a non-bank customer base. He then went on to share the news of last week’s launch of Cardlytics’ first Open Banking solution with Sainsbury’s and Nectar Connect, which is the first step in executing on this new strategy.
Empowering marketers to better reach all their customers
The information-packed day wrapped with a presentation by Amit Jain, Founder and CEO of Bridg. “Bridg is the first platform that addresses the long-standing challenge facing brick and mortar retailers; identifying, understanding and engaging unknown in-store customers,” said Jain. “With Bridg, brick and mortar retailers enjoy the same rich insight into consumer behavior, omni-channel targeting capabilities.”
With a database of customer profiles, Bridg allows for the ability to segment profiles, create audiences, and export those audiences to 200+ marketing destinations for campaign activation. And, given that the Bridg platform tracks those audiences and client POS transactions are ingested on a nightly basis, marketing teams can monitor campaign impact on sales with a closed-loop measurement system.
Cardlytics is investing in the future of digital marketing
Cardlytics has been steadily working towards driving transformation in the digital marketing space. With a strategy in place that incorporates the unique value of both Dosh and Bridg, Cardlytics is on the fast track to monumental growth. Relive the excitement and watch the presentation in its entirety, on demand.