Simon, the nation’s largest owner, operator and developer of shopping and mixed-use centers, has launched new first-party retail data capabilities providing insights for retailers, brands and agencies to connect with consumers on a more targeted basis.
The offering, through the Simon Media & Experiences media division, provides a range of information from which marketers can create omnichannel, full-funnel campaigns to curated audiences, either through their own digital marketing efforts or through Simon’s in-mall retail media network.
“Combining its portfolio of 200-plus premium shopping destinations across the country with its two billion-strong customer reach, relationships with 3,000-plus retail brands and significant digital footprint, Simon is uniquely positioned to offer a first-hand look at shoppers’ preferences and trends,” the company indicated in a statement. “Through these insights, retailers and agencies using Simon’s new first-party data offerings can take a more targeted, efficient and effective approach with their marketing spend across preferred digital channels including CTV, YouTube, and social.”
“We’re talking audiences. We’re talking behaviors. We are talking interests, locations, demographics, and purchasing tendencies,” Chip Harding, executive vice president, Simon Media & Experiences, told WWD, describing the kinds of information offered. “We can aggregate that into marketable audiences and target them through digital channels.
“What this announcement is all about, is that by capturing the digital signals we receive through all of our digital touch points, we’re now extending that offering to off-site digital channels, including YouTube, connected TV, or any social platform of your choice.”
Chip Harding
For example, Simon can create an audience of shoppers interested in high-end handbags, and then marketers can target those individuals on the digital channel of their choice. “The identities are all anonymized and aggregated to enable brands to reach Simon audiences across all digital formats,” said Harding.
“If you take our luxury segment, there are quite a few high-end automotive manufacturers that would be interested in all of our luxury shoppers and markets across the country, like Houston, Miami, Atlanta, southern California, New York, etc. We also know the Simon shopper indexes very high for travel and resort experiences. We can aggregate those audiences to non-retailers and share that opportunity to target them.”
Simon has been advancing its digital capabilities for years, accumulating data through Simon Search, where consumers search for products in stores; through Simon’s 160-plus websites; through its VIP shopper program which has 20 million-plus members, and also by tapping the WiFi in its centers. Simon bundles all that data and working with third-party and tech partners can create audiences frequenting particular sections of malls.
The new service was introduced late last year, with pilot programs involving marketing campaigns developed utilizing the new information from Simon. “Measurement is really important,” said Harding. “There are very precise metrics we track to determine the efficacy of the campaigns. Just simply, did they click through the digital ad they saw? Did they go to the retailer’s website? We’re able to determine if they came back to a center based on a message they saw. And with our in-center campaigns, we work very closely with specific retailers. We have control and test programs. So in 25 malls where we’re running a campaign and 50 malls where we’re not, we look on a daily basis at the actual sales data the retailer provides us to measure the efficacy of the campaign.”
Simon is offering its new capabilities to retailers and brands whether they are tenants in Simon properties or not. Fees are based on a CPM — a marketing term referring to the total cost for every 1,000 impressions an ad receives.Â
“Simon’s unique perspective as a shopping destination operator and an omnichannel marketing provider gives us unmatched insight into how consumers engage with retail,” Harding said in a statement. “Our first-party data capabilities and nationwide in-mall media network empower brands to execute full-funnel campaigns that connect the dots between physical and digital touchpoints. This approach delivers precision targeting that drives measurable results.
“One example, a retailer with physical stores in Simon centers could build a highly targeted audience of shoppers by blending affinity insights, online search behavior, engagement metrics, cart additions, and transactional data from Simon’s omnichannel touchpoints. The retailer can then reach this defined audience directly to connect them with the products they are most likely to purchase — through their own digital marketing efforts and through Simon’s nationwide in-mall retail media network. The network also enables retailers to better measure the return on investment for their omnichannel campaigns, connecting digital and in-store sales with foot traffic data.”
