This month, Lyft introduced in-app ads as part of an expanded rider experience to personalize customers’ experiences and generate more revenue from the Lyft Media ecosystem. The rideshare service partnered with ecommerce technology company Rokt, which uses machine learning intelligence and its network of advertisers to deliver the right ads to the right Lyft customers in-app.
Lyft Media has added a number of digital and out-of-home touchpoints to make the rider experience more engaging and to provide opportunities for advertisers. As a result, Lyft Media’s revenue has quadrupled in the last year, according to the company.
Retail media networks (RMNs) have shown how loyal customers and engaging experiences can drive more sales for advertisers when the buyer journey is managed intelligently. As each retailer and customer base is different, new opportunities arise based on the retailer’s specific strengths.
Lyft’s journey takes riders from the app to an in-car experience where they have the customer’s complete attention. The ridesharing experience and media ecosphere show how hundreds of millions of North American customers annually are getting from place to place for travel needs and entertainment. Lyft has 26% of ridesharing’s U.S. market share, compared to Uber's 74%. Lyft averaged $87 per transaction in July 2022, up 12% year-on-year.
The in-app ad partnership with Rokt went live on August 9. Riders will be served ads in-app while viewing their ETA screen, when they match with a driver and during the trip. On average, riders check their phones nine times during the Lyft ride. Targeting is based on first-party data such as payment method, ride history, ride area, and lifestyle segments. Advertisers get 100% share of voice to reach riders in relevant and contextual ways.
Rokt’s machine learning optimizes the best contexts and ad forms to serve customers in-app, drawing from a number of advertisers in its closed network, including Hulu, AMC Theatres and HelloFresh. The company’s use cases began with ticket-buying services. When customers buy a ticket to an event, Rokt’s technology sends a promotion that fits contextually with that event based on location, interest or other relevant tie-ins.
In addition to in-app ads, Lyft Media offers other digital and out-of-home opportunities to advertisers. In-car tablets are available in 12 markets, screens on top of Lyft cars are available in 5 marketers and out-of-home ads on bike sharing stations are available in four markets. The company has partnered with Kantar Brand Lift Insights for awareness metrics, purchase intent and brand association measurement.
Lyft has tablets in 6,000 cars in 12 markets, reaching over 1 million riders per month. Riders use them as an alternative to the phone app when they are in the car. Additionally, riders can use the tablet to improve their experience by controlling the music in the car, tracking their progress on a map and tipping their driver. The company found that when drivers decide to place a tablet in their cars and give at least 60 rides per week, the tablet boosts their tips by 10% on average.
This month, Lyft introduced in-app ads to personalize its riders’ experiences and generate more revenue from its Lyft Media ecosystem. The rideshare service partnered with ecommerce technology company Rokt, which uses machine learning intelligence and its network of advertisers to deliver the right ads to the right Lyft customers in-app. Advertisers get 100% share of voice to reach riders in relevant and contextual ways.
Rokt’s machine learning optimizes the best contexts and ad forms to serve customers in-app, drawing from a number of advertisers in its closed network. Rokt’s use cases began with ticket-buying services, sending a promotion that fits contextually with the event based on location, interest or other relevant tie-ins.
In addition to in-app ads, Lyft Media offers other digital and out-of-home opportunities to advertisers, such as in-car tablets in 12 markets, screens on top of Lyft cars in 5 marketers and out-of-home ads on bike sharing stations in four markets. Additionally, the company has partnered with Kantar Brand Lift Insights for awareness metrics, purchase intent and brand association measurement.
Lyft has tablets in 6,000 cars in 12 markets, reaching over 1 million riders per month. Riders use them as an alternative to the phone app when they are in the car, and the company found that when drivers decide to place a tablet in their cars and give at least 60 rides per week
Originally reported by Martech: https://martech.org/lyft-introduces-in-app-ads-as-part-of-an-expanded-rider-experience/
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