launches in-app advertising as part of a new rider experience.

This month, Lyft launched in-app advertising to personalize the experience of its riders and generate more revenue through the Lyft media ecosystem.

Rokt is a technology company that specializes in e-commerce and uses machine learning to target the ads for the correct Lyft users.

Lyft Media added digital and out of home touchpoints in order to enhance the rider’s experience and provide advertisers with opportunities. According to the company, as a result of this, Lyft Media’s revenue quadrupled over the past year.

Why do we care? We’ve seen that retailers with loyal customers can generate more sales when they manage the buyer journey intelligently. Every retailer is unique, as are their customers. This means that new opportunities can arise depending on the retailer’s strengths.

What is it? Lyft takes its customers from the app into the car, where they can have their full attention. The ridesharing ecosphere and experience shows how North American customers travel and entertain themselves. According to Bloomberg Second Measure , the company holds 26% of the U.S. ridesharing market, compared to Uber’s 74%. Lyft’s average transaction price was $87 in July 2022. This is up 12% year-over-year.

CTV growth is not the same as retail media networks

Ads in-app. Rokt’s new advertising partnership went live on the 9th of August. This partnership will allow riders to see ads while they view their ETA, match with a driver, and even during the ride.

Nine times on average, Lyft riders check their phones during the ride.

Zach Greenberger is the chief business officer at Lyft. He said that advertisers get 100% of the voice in reaching riders with relevant and contextual ads as they go out to shop, eat and run errands. The ads are dynamically rendered and adapted to fit into the app.

“At the launch, riders will only be exposed to one poster during each ride.” He continued. The targeting is based upon first-party data, such as payment methods, ride histories, ride areas, and lifestyle segments.”

We’re thrilled to expand our partnership with Lyft and launch this new channel,” stated Zoe Oz CMO of Bilt Rewards. Bilt Rewards is all about meeting people where they are. While most of our advertising is done in rental properties via our real estate partners, a Lyft trip to and from someone’s home can be a great way to reach customers on a daily basis.

Rokt Technology. Rokt draws on a network of advertisers, including Hulu and AMC Theatres, to determine the most effective contexts and forms for serving ads to customers within the app.

Rokt began by offering ticket-buying solutions. Rokt sends customers a promotional message when they buy tickets to an event. This is based on their location, interests, or other relevant tie ins.

A passenger may receive an AMC Theatre advertisement for a film playing near their destination. The rider may receive an offer from Hulu for a subscription to their streaming service.

Rokt’s intelligence is based on billions of transactions in ecommerce. Businesses that have partnered with Rokt’s closed marketplace are capturing incremental profits of $.30 for every transaction.

Jon Humphrey is the VP of Solutions and Product Marketing for Rokt. He said that because Rokt’s machine-learning technology improves with time, it looks for enterprises for future partnerships or companies with high volumes of transactions.

Expanding ad network. Lyft Media’s advertisers include Bilt Rewards and Universal Pictures, among others.

Advertisers can also take advantage of other digital and outdoor advertising opportunities, including those offered by Lyft Media. Twelve markets offer in-car tablets. In five markets, Lyft vehicles are equipped with screens. Lyft has also placed out-of home ads at bike-sharing stations in four markets.

Measurement. Lyft Media is also partnered up with Kantar Brand Lift Insights to measure brand awareness, purchase intention and brand association.

Greenberger said that the report at launch would include impressions and clicks as well as an optional Brand Lift Insights study.

Tablets. In 12 markets, Lyft uses tablets in 6,000 cars to reach over 1 million riders each month. They are used as an alternative for the phone app in the car. Riders can also use the tablet for a better experience, such as controlling the music, tracking their progress and tipping the driver.

When drivers install a tablet into their car and provide at least 60 rides a week, their average tip increases by 10% compared to those who do not have one.

It is also a sign that the other participants in the ride will benefit from a rider who has relevant and useful experience.

The post In-app advertising by Lyft as part of an enhanced rider experience first appeared on MarTech.