New product, which will appear in outstream video players on online recipe pages, comes as advertisers seek fresh video ads options under the cloud of potential TikTok ban.
Chicory, the contextual advertising platform for CPG and Grocery advertisers, has launched Chicory Video, a new ad format, which will make it easier than ever for consumers to purchase products directly from contextually relevant ads.
The ads align brands with recipes based on lifestyles, occasions, and seasonality for enhanced relevance, as well as enabling 1:1 targeting of specific ingredients. Running across recipe pages on Chicory’s extensive network, which includes big name publishers such as Hearst, initial campaigns have delivered an >80% Video Completion Rate (VCR), outperforming other platform benchmarks.
Chicory Video launches at an optimum time for the industry, with the future of TikTok in the U.S. still uncertain causing content creators to look for new monetisable channels and advertisers to rethink spend on this platform. There are approximately 1 billion videos associated with food hosted on TikTok, but with its future in doubt, Chicory Video offers a new, highly engaging and measurable solution for content creators and advertisers to get in front of the right audiences. This opportunity is especially pertinent given US consumers now spend an average of four hours daily watching digital video, and 75% of viewers make at least one purchase influenced by video ads.
“Our new video solution seamlessly combines the power of contextually relevant content with the ease of shoppability, and the attention-grabbing impact of video,” said Joey Petracca, Chicory COO and Co-Founder.
“We know that over half of US consumers use recipe websites and food blogs on a regular basis, and our product will help advertisers and content creators to capture and convert today’s video-first audiences.”
Chicory Video supports ads of 6 or 15 seconds in length and uses third-party vendors, like Pathformance, to measure results like ROAS, iROAS, Sales Lift, etc.
Founded in 2013 as a shoppability company, Chicory has evolved into an end-to-end contextual solution for CPG advertisers and retailers by combining unique and engaging media experiences with brand-safe, relevant content. This combination along with Chicory’s proprietary shoppable tech enables the company to develop insights that power their optimisation tactics and help customers better understand their target audience.
Today Chicory sees 123M shoppers across its network of 5,200+ recipe sites and is integrated with more than 70 retailers. With the rise of retail media, the company has been able to establish itself as a key strategic partner in the off-site strategy for major retailers. Key partners and customers include Mars United Commerce, Giant Eagle, and Chobani.
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