This time, Ridesharing Forum is delving into Lyft’s media division. Yes, ridesharing giant Lyft has a media division known as Lyft Media, which brands itself as the first and only media platform specially designed to engage with users across their transportation journeys.
Lyft has this division to reach out better to their passengers. Now, business correspondents have reported how the ridesharing platform’s media arm has partnered with an AI platform that systematizes programmatic advertising for its clients.
That platform is Toronto-based StackAdapt, which brands itself, on the other hand, as one of the world’s leading ad-buying platforms. They are responsible for programmatic advertising, or that ad strategy that automates the buying and selling of digital ad space with the use of technologies and algorithms to streamline the process and enable real-time bidding, precise targeting, and efficient management of campaigns.
The latest collaboration between StackAdapt and Lyft Media will launch this advertising strategy within the Lyft app, which has showcased promising results for other businesses.
“We’re thrilled to create new opportunities for brands to connect with riders seamlessly and in ways that elevate the ride experience,” stated Shane Dwyer, sales head at Lyft Media. “Lyft’s partnership with StackAdapt provides a unique way for programmatic buyers to reach consumers at key moments through strategic placements in the rider journey, delivering value for both riders and advertisers.”
In this tie-up, Kevel, a leading provider of API-based media ad serving technology, will take charge of granting Lyft a premium in-app ad inventory, which will then create opportunities for brands, agencies, and merchants to connect with millions of riders on Lyft through hyper-localized advertising experiences.
In other words, when a passenger visits the Lyft app, brands can deliver targeted messages throughout the riders’ journeys, whether commuting to work, attending to events, or traveling to the airport.
For instance, if the ride is meant to bring the passenger to a restaurant, perhaps the ads can showcase food-related products.
These targeted placements guarantee that advertisers maintain a consistent presence without getting overpowered by competitors in the industry.
Furthermore, this collaboration will also enhance programmatic capabilities, providing access to the in-app advertising of Lyft. Brands can access premium inventory and deliver tailored, data-driven ad experiences to Lyft’s user base. The ads can talk directly to what passengers want to hear or see.
“Partnering with Lyft and Kevel opens an extraordinary advertising avenue for agencies to engage a mobile, diverse audience,” said Greg Joseph, VP of Inventory Development at StackAdapt. “Together, we’re transforming the local ad experience by connecting brands, agencies, merchants, and restaurants to consumers at meaningful points in their daily lives.”
The digital offerings of Lyft Media are available in the app nationally and include formats such as video and poster units, complemented by strong first-party targeting and measurement capabilities.
Through this collaboration, unique opportunities can be unlocked for advertisers to engage consumers across their journeys, reaching them during moments of heightened attention and intent.