To stand out in a crowded commerce market, Lyft Media is thinking about partnerships and measurement differently. While its current partnerships help Lyft Media navigate “traditional ecosystem of measurement,” the network is also thinking about what the next phase of measurement will be, said Shane Dwyer, head of sales for Lyft Media.
- “Is there a different form of measurement we should think about? One that doesn’t exist today? For example, a lot of Lyft rides are going to retailers and restaurants. Maybe we should measure incremental drop-off volume?”
- This could help Lyft Media differentiate itself among the vast landscape of media networks that have emerged.
- “We need to figure out what our unique value proposition is, how we develop our flywheel.”
Currently, Lyft Media only offers ads across its own channels. But the network plans to expand into off-site formats like connected TV (CTV) or social media, which will require additional ad tech and measurement partners.
- When evaluating partners, Dwyer seeks creativity, flexibility, and experience.
- “We’re looking for someone with a strong point of view, someone who’s done it before,” he said. “We want someone to be creative and come up with unique ideas for us because we’re not a typical retail media network. And they need to be flexible, because we require excellence, and this is a very fast-paced environment.”
Lyft Media’s current tech stack puts a strong emphasis on measurement.
- Lyft Media works with a variety of in-store and digital measurement partners, including Nielsen and Kantar, and most recently adding Kochava, Foursquare, and NCS to the mix.
- “We have made a major push to onboard and integrate with the partners that we need to build the business, that allow marketers to measure whatever outcomes they need to, whether that’s brand awareness or sales lift,” said Dwyer.
Partnerships have been essential to Lyft Media’s growth over the past couple years. The network launched in 2022, offering ad inventory across digital car toppers, Lyft-owned bike stations, and in-car tablets.
- “It all started with out-of-home car topper ads,” said Dwyer. “Then we added bike docking stations and in-car tablets. Those were the foundation for us to get comfortable with advertising.”
- But as Lyft Media grew out its third-party partnerships, it enabled the network to continue to expand into other formats, including in-app ads in display and video formats.
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