CVS Pharmacy Launches New Digital Media Platform for CPG Suppliers
CVS Pharmacy, the retail division of CVS Health, has launched the CVS Media Exchange (cMx), a new digital advertising platform that enables CPG supplier partners to efficiently reach existing and potential customers. With 76% of the U.S. population living within five miles of a CVS Pharmacy, cMx can help suppliers communicate their message to a broad and diverse audience. Participating brands have access to a 360-degree suite of on-site and off-site channels spanning consumers’ path to purchase – from in-store advertising and banners on CVS.com, to programmatic display, online video, social media and search engines.
“cMx allows brands to focus their ad spend on reaching the right customer at the right time, with maximum efficiency,” said Norman de Greve, chief marketing officer of CVS Health. “We take an audience-first approach and can target both loyal and category shoppers and accurately validate the effectiveness of a campaign by measuring both online and offline sales.”
cMx draws upon more than two decades worth of insights from in-store and online transactions, allowing CVS to help brands accurately target the most appropriate audience and media platforms for a specific campaign. The result is the ability to serve personalized and relevant ads and offers to customers who are likely to be interested in them, ensuring maximum efficiency and increased chances for desired outcomes.
The cMx platform also makes it easier for consumers to find products that fit their health and wellness needs, lifestyle and personal preferences. Participating brands also benefit from the cMx platform’s closed-loop (in-store and online) measurement system, plus value-additions including Brand Sales Lift, New Buyer Growth and Brand Health. As a result, companies receive in-depth, quality insights that are expected to help increase ad value.
cMx is a unique offering for CPG brands due to its personalization capabilities and additional options for creative services, which brands can leverage to create their campaigns.