What’s next after launching a retail media network?
Becoming a social ad network, apparently.
On Tuesday, Best Buy Ads, the big-box tech retailer’s advertising arm, announced the launch of a new offering called Social+.
According to Best Buy, Social+ – emblazoned with a “plus” sign, of course – will allow advertisers to target its audiences directly on social media platforms. The tool uses first-party consumer insights from the retailer and integrates with Meta’s Advantage+ shopping campaigns.
The tool is initially limited to Facebook and Instagram, although other social platforms are in the works.
Social+ doesn’t have a self-service option yet. Advertisers will need to work with a Best Buy Ads rep to use the tool, a Best Buy spokesperson confirmed to AdExchanger.
Despite these initial limitations, Best Buy Ads promises that Social+ will allow advertisers to reach Best Buy’s distinct audience in a way that would not be possible using Meta’s audience targeting alone.
For example, Social+ provides SKU-level insights about the specific products people are interested in.
The Best Buy Ads spokesperson also shared that the reaction from Best Buy’s advertising partners has been positive so far, particularly among the small cohort that tested the beta version.
The partnership with Meta to launch Social+ mirrors Best Buy’s partnership with Roku. In 2023, Best Buy gave Roku access to its purchase and audience data in exchange for exclusive rights to sell Roku’s first line of TV sets at Best Buy locations.
