MEDIA MAN: Macy’s Inc. has appointed Michael Krans vice president, Macy’s Media Network, which is a relatively new source of revenue for the company and its Macy’s and Bloomingdale’s divisions.
In this role, Krans oversees the company’s in-house media publisher dedicated to connecting advertising partners with Macy’s and Bloomingdale’s loyal customers. It’s a strategy geared to leveraging data from the loyalty program, enhancing personalization efforts, providing additional insights and data to brand partners and raising their profiles.
Last year Macy’s Media Network accounted for $155 million in sales, or 0.7 percent of total sales of $23.1 billion. In 2022, Macy’s Media Network generated $144 million.
Macy’s established its media network in 2020. Target and Walmart also have media networks and most recently Saks established its own media network.
Krans succeeds Melanie Zimmermann and reports to Max Magni, chief customer and digital officer for Macy’s Inc.
“Michael takes the reins of our growing retail media network bringing with him more than two decades of sales and marketing experience,” said Magni in a statement Monday. “Macy’s Media Network is one of retail’s premier platforms for advertisers helping them to connect with highly engaged customers across Macy’s and Bloomingdale’s, giving marketers a host of opportunities to more effectively leverage their media campaigns.” Macy’s Media Network does not involve Bluemercury, another division of Macy’s Inc.
According to the Macy’s website, the Macy’s Media Network offers 60-plus ad placements across Macy’s and Bloomingdale’s websites “Our closed-loop reporting tracks online and in-store conversion activity, as well as new buyer acquisition rates for your brand, allowing for a performance-driven approach to running media,” the site reads.
According to the Macy’s statement, Krans has extensive experience leading sales and marketing teams focused on digital media, e-commerce and publishing. Most recently, he led the fashion team at Walmart Connect, where he partnered across the enterprise to drive revenue growth with the company’s biggest apparel suppliers. Earlier, he worked at major publishers including Hearst and Condé Nast overseeing a host of revenue growth, advertising and marketing initiatives with an emphasis on retail, home, beauty and fashion campaigns.
