Perion Introduces Undertone’s New Division to Address Retail’s Biggest Unsolved Digital Dilemma
June 17 2021 - 9:01AM
Business Wire
Perion Network Ltd. (NASDAQ:PERI) a global advertising
technology company that delivers holistic solutions across the
three main pillars of digital advertising – ad search, social media
and display / video / CTV advertising – announced today that
Undertone, a leader in data-driven, Intelligent High Impact
campaigns across screens, has a new division dedicated to retail
marketing. Retailers are now able to deliver dynamically updated,
personalized, and geographically-sensitive pricing – on an
item-by-item and bundled basis – across its suite of high impact
digital display units.
The convergence of dynamic, AI-driven optimization and
Undertone’s breakthrough creative has been beta tested in the
circular market - with millions of consumer interactions - and has
been proven to be an omni-channel home run, generating ROAS (Return
On Ad Spend) up to 9x, increasing low price perception by over 60%
and aiding in up to 83% brand awareness, per Lucid studies
conducted.
The new Retail platform and its innovative digital circular
could not come at a more perfect time. Grocery retailers are
looking forward to enormous upside – industry sales are expected to
reach $1.1 trillion by 2027, according to Grand View Research – as
the pandemic has fueled growth in DTC (Direct-to-Consumer) and
stay-at-home behaviors. But this comes in the face of the
well-established slow death of print media, which has dramatically
reduced the distribution of the conventional circular.
Meghan Galligan, Senior Manager of Digital Media, and Experience
at Stop & Shop, who participated in the high impact circular
beta test, noted that:
“Undertone’s high impact circular capabilities were extremely
turn-key to execute and have allowed us transform the content and
distribution of our weekly ad. Not only is it personalized, but
Undertone’s interactive formats also provided the ideal canvas to
showcase a curated selection of top deals each week, specific to
geographic shopping behaviors. We are planning to scale this
technology to ensure our customers are getting the content that is
right for them. Based on the results of our initial campaigns, it’s
clear our shoppers love it too!”
Undertone plans to expand its Retail platform and Price &
Item technology more deeply into the retail operating system, since
the data solutions it provides have end-to-end impact, from supply
chain and warehousing to POS.
Undertone President, Dan Aks, “Undertone’s Retail platform s is
an innovation driven by our core assets, and unique ability to
combine data, technology and creative to drive outsized results for
our clients. We have been listening carefully to our retail
partners – particularly in grocery – as they have shared the
complex challenges they face in today’s hyper-competitive,
digital-first environment. We believe that our new division will
become an invaluable strategic and operational partner as they
build their moats.”
Doron Gerstel, Perion’s CEO, added “Our healthy early growth -
and exciting future in the Retail Media vertical – represent the
next level of Perion’s cross-channel diversification strategy.
We’re putting more and more efforts to verticalize our offerings
and gain both market share and long-term partnerships with our
important customer partners.”
Forward Looking Statements This press release contains
historical information and forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995
with respect to the business, financial condition, and results of
operations of Perion. The words “will”, “believe,” “expect,”
“intend,” “plan,” “should” and similar expressions are intended to
identify forward-looking statements. Such statements reflect the
current views, assumptions, and expectations of Perion with respect
to future events and are subject to risks and uncertainties. Many
factors could cause the actual results, performance or achievements
of Perion to be materially different from any future results,
performance or achievements that may be expressed or implied by
such forward-looking statements, or financial information,
including, among others, the failure to realize the anticipated
benefits of companies and businesses we acquired and may acquire in
the future, risks entailed in integrating the companies and
businesses we acquire, including employee retention and customer
acceptance; the risk that such transactions will divert management
and other resources from the ongoing operations of the business or
otherwise disrupt the conduct of those businesses, potential
litigation associated with such transactions, and general risks
associated with the business of Perion including intense and
frequent changes in the markets in which the businesses operate and
in general economic and business conditions, loss of key customers,
unpredictable sales cycles, competitive pressures, market
acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various
other factors, whether referenced or not referenced in this press
release. Various other risks and uncertainties may affect Perion
and its results of operations, as described in reports filed by
Perion with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2020 filed with the SEC on March 25, 2021. Perion does
not assume any obligation to update these forward-looking
statements.
About Perion Network Ltd. Perion is a global technology
company that delivers holistic strategic business solutions that
enable brands and advertisers to efficiently “Capture and Convince”
users across multiple platforms and channels, including interactive
connected television – or iCTV. Perion achieves this through its
Synchronized Digital Branding capabilities, which are focused on
high impact creative; content monetization; its branded search
network, in partnership with Microsoft Bing; and social media
management that orchestrates and optimizes paid advertising. This
diversification positions Perion for growth as budgets shift across
categories.
About Undertone Undertone creates memorable ad
experiences by thoughtfully orchestrating solutions across video,
advanced TV, rich media, and social, to drive unmatched brand lift
and audience engagement on virtually every screen, and every
device. Their award-winning creative team uses the company’s 20
years of experience, and billions of impressions worth of data to
intelligently craft campaigns that can drive full-funnel KPIs while
making meaningful connections with the 200MM+ unique users they can
reach every month. Undertone brings the art and science of
advertising together to intelligently craft campaigns that uplift
consumers, brands, and publishers alike. Visit undertone.com to
learn more.
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version on businesswire.com: https://www.businesswire.com/news/home/20210617005532/en/
Rami Rozen, VP of Investor Relations +972 52 569 4441
ramir@perion.com
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