Microsoft has made recent changes to its ad platform to better compete with Google, Facebook, and Amazon. Previously known as Bing Ads, Microsoft is continuing its improvements to the marketing platform with the acquisition of PromoteIQ.
PromoteIQ is a service that reaches millions of shoppers on a daily basis and works with some of the largest brands and retailers. In a PromoteIQ press release, the company stated that they’re excited to work along with Microsoft to ”redefine and deliver the next generation of vendor marketing to retailers and brands.” Microsoft is a huge player in the tech industry and is a leader in machine learning and AI and access to these tools can be beneficial to both entities.
PromoteIQ has worked with brands like Office Depot, B&H, and Kroger. With this acquisition, Microsoft can stay competitive in the advertising market as well as the competition with Amazon for the public cloud. While most consider Amazon the leader in online retail the company has moved from being a humble online book store to being the leader in digital storage and computing infrastructure.
As stated in a recent article the portion of Microsoft’s income that comes from advertising isn’t a large portion of the company. Though it isn’t worth dismissing. While 9% of the company’s income comes from advertising efforts, the company shows an intentional move towards growing this branch of their business.
In a joint statement from PromoteIQ, founders Alex Sherman and Peter Schwartz explained, “For now, it’s business as usual as we continue to support our retailer clients and their brand partners, now with the added benefit of the tremendous resources and scale that Microsoft provides. We have aggressive plans to deliver for our retail clients and have no intention of slowing down.”
Microsoft’s acquisition of PromoteIQ could potentially make the advertising, marketing, and computing infrastructure more competitive in the future as businesses try to get a foothold in these specialized industries. To stay updated on this and other marketing news subscribe to the Holler Hustle.