By: Brent Oakley, CEO & Co-Founder, VibenomicsIn recent weeks, our world has changed in unimaginable ways – shifting how consumers work, shop, play, travel, and live. Given new restrictions and consumer preferences, the world of digital advertising and media habits have transformed as a result.
While IAB NewFronts may look different this year, Vibenomics is excited to be a presenter at this year’s immersive, digital event. Planned around the theme ‘Insight. Inspiration. Transformation.‘, there could not be a better time for brands and agencies to be introduced to our unique offering – Audio Out-of-Home™ advertising. Brands and agencies are seeking innovative ways to spend unallocated dollars and new offerings continue to emerge as buying behaviors change.
“Just look around at the innovation we are seeing in production, storytelling, and building immersive virtual experiences. That’s how fast things have changed. This is one NewFronts no one should miss,” notes David Cohen, IAB President
As a new entrant to the advertising market & first-of-kind offering, the IAB NewFronts event will be critical to the continued acceleration of our Audio Out-of-Home™ advertising growth. “Vibenomics is an evolutionary change for a new category of ad spending. We bring in-store media into programmatic’s world with ease of buying, targeting, transparency and proof of performance through POS attribution. IAB Newfronts is an ideal showcase for the great things we have been developing and are now ready to share our insights with this buying audience,” says Paul Brenner, President of Audio OOH and Chief Strategy Officer for Vibemonics.
We are eager to introduce the Vibenomics Advertising Market to the world’s largest brands and the research supporting the power of audio advertising alongside other confirmed presenters like Hulu, Youtube, Facebook and more.
Read the full release from IAB about the digital experience and confirmed presenters here.
Vibenomics, a location-based Audio Out-of-Home advertising and experience company, today announced it has raised $6 million in Series A funding to further its momentum in the advertising market. The round was led by BIP Capital and brings total company funding to $13.5 million. The funds will largely support the expansion of convenience stores and grocery retailers in the Vibenomics Audio OOH™ Advertising Marketplace.
By combining licensed, background-music playlists and commercial spots paid for by brand advertisers, Vibenomics helps businesses with physical locations enhance store sales, enrich the customer experience and receive a share of advertisement revenue. The company enables brands to talk to shoppers directly at the point-of-sale inside thousands of retail locations through Audio OOH advertising, impacting immediate purchase decisions.
“Our team is pioneering programmatic Audio OOH media and has emerged as a resounding success story of how a traditional ad medium committing to digital transformation can achieve significant growth in both revenue and share of ad spend,” said Brent Oakley, co-founder and CEO of Vibenomics. “We will use this Series A investment to accelerate product development and scale go-to-market execution, building on the momentum we’ve already seen in only a short period of time.”
According to a recent study by MAGNA, listeners are 35% more receptive and open to audio ads than viewers. Built for both location-based businesses and advertisers, Vibenomics has reached incredible scale at a rapid pace. The company has added over 100 brand advertisers in more than 4,000 locations across 48 states — reaching over 150 million people — and provides a vehicle for retailers to monetize their private, physical-location airwaves to transform a legacy expense into a new profit center.
“Vibenomics is a fresh new way to reach shoppers at the point of making purchase decisions,” said Paul Iaffaldano, chief investment officer at BIP Capital. “It has an amazing effect on both impulse items and brand preference within competitive categories.”
In addition to the funding, Vibenomics recently welcomed several key brands to its customer base, including convenience store chain Kwik Trip, and additional national retailers being announced in Q2.
“When Vibenomics approached the Kwik Trip team, the technology and revenue model was something I’ve never seen in this space before,” said Mark Meisner, Director of Marketing and Advertising at Kwik Trip. “We typically see 8 million or more transactions a week in our stores and, with that amount of ears and eyes, we have a unique opportunity to impact buying choices. When I first took a deep dive into the Vibenomics model, I saw the potential to offset costs to the stores for in-store music and potentially generate ad revenue. The model itself made sense to me and the technology was clean as far as installation and logistics. Vibenomics has been a great partner in accommodating our business needs.”
BIP Capital is recognized as one of the most active venture investors in the Southeast, serving entrepreneurs, investors, and operators to grow the emerging company ecosystem. It applies experience and process to make investment decisions and operational recommendations, allowing its portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech.
Vibenomics, Inc. is a location-based Audio Out-of-Home™ advertising and experience company that powers audio channels for retailers, giving brands the ability to talk to shoppers directly at the point of sale. With its powerful cloud-based technology, licensed background music library, data integration capabilities, full-service team of audio experience experts, and network of on-demand professional voice talent, the company provides the right revenue-enhancing vibe for over 100 advertisers in more than 4,000 locations across 48 states, reaching over 150 million people.
Delivered through flexible plug-and-play mobile tablet devices, Vibenomics dynamically broadcasts hyper-targeted, in-stream audio advertisements and curated playlists within any combination of locations across its swiftly growing national footprint, unlocking a powerful new shopper marketing channel for reaching consumers during the critical final footsteps along the path to purchase. Through a first-of-its kind partner program, retailers can receive a portion of revenue for all advertisements sold by Vibenomics that play within their locations, giving them the ability to monetize their private airwaves and transform a legacy expense into a new profit center.
By: Brent Oakley, CEO & Co-Founder, VibenomicsThe good vibes have been overflowing lately at Vibenomics, and news like this deserves to be broadcast! We are so privileged to announce our recent recognition for two prestigious awards: TechPoint Mira Awards “Scale-Up of the Year” Finalist, and a 2020 Winner in the Small Employer Category for “Best Places to Work”, presented by the Indiana Chamber of Commerce.
We are honored to be recognized as an outstanding company in Indiana alongside organizations like GEICO, Salesforce, Republic Airways, Conga, and Eli Lilly. It’s humbling and gratifying that premiere driving forces behind Indiana’s economic development have taken notice of the immense transformation and growth Vibenomics has experienced over the past year. It’s a true testament to the optimism that we – and the community – have for our future. Here are some highlights about our two recent honors:
TechPoint’s Mira Awards is the state’s largest and longest-running technology excellence and innovation recognition program celebrating ‘The Best of Tech in Indiana’. This year, 129 organizations advanced as nominees for awards to be announced in April. Award nominees were selected by 48 independent subject matter experts who will review presentations by company leadership in each category in preparation for the awards gala.
“Our 2020 Mira Awards theme—‘Be Bold.’—is both a reflection of the growth and successes that the nominees achieved over the past year, as well as a call-to-arms for the tech community as a whole to shed those last remaining remnants of timidness or apprehension,” said Mike Langellier, president and CEO of TechPoint.
“Think big, go turbo” is a Vibenomics core value that remains at the heart of our company vision and drives all aspects of our business. The perfect combination of winning partnerships, state-of-the-art technology, implementation of industry-disrupting strategy, notable year-over-year growth, and experienced leadership allows us to live out this value daily, and puts Vibenomics in the perfect position to be recognized as the “Scale-up of the Year”.
See the full list of Mira Award Nominees >>
Vibenomics is one of 125 Indiana companies selected as a “2020 Best Place to Work in Indiana” by the Indiana Chamber of Commerce and is one of 38 first-time honorees. The list of winners was determined after a rigorous review of employer-reported details on talent and retention compared with confidential employee surveys. Vibenomics represents the “Small Companies (15-74 U.S. Employees)” category alongside 51 other state-wide honorees.
Kevin Brinegar – Indiana Chamber of Commerce President – says the Chamber continues “to be impressed with the quality of employers, their strong workplace cultures and best practices they have in place that both strengthen the company and the employer-employee relationship.”
See the full list of 2020 Best Places to Work in Indiana >>
On behalf of the “Vibe Tribe”, I’d like to send my most heartfelt thanks to both TechPoint and the Indiana Chamber of Commerce for recognizing the great work happening here at Vibenomics. I’d also like to give a hearty congratulations to all of our fellow honorees, and look forward to our organizations achieving even greater feats in 2020 and beyond!
Vibenomics, provider of custom streaming radio stations for thousands of points of interest and the industry’s first audio out-of-home™ (OOH) programmatic advertising marketplace, has promoted Paul Brenner from Chief Strategy Officer to President and Chief Strategy Officer and expanded its sales team adding seasoned advertising industry veterans Josh Pyne and Brian Liebler. Mr. Brenner will own the overall vision and go-to-market strategy for Vibenomics’ audio out-of-home advertising.
“The market reception and growth trajectory of audio out-of-home advertising has been astounding, and there is no more capable leader than Paul Brenner to accelerate our momentum in this exciting space,” says Brent Oakley, CEO and Co-Founder of Vibenomics. “When Paul joined Vibenomics six months ago, it marked a clear turning point in our company’s evolution as a premiere destination for marketers who want to influence shoppers as they take those final footsteps on the path to purchase, and he has earned the full support of our entire team.”
To support the rapidly growing marketplace inventory and demand from national brands and agencies for Audio OOH™ advertising, the company has named Josh Pyne Vice President of Ad Sales, reporting to Mr. Brenner. Mr. Pyne assumes leadership of an existing team of category direct advertising account executives who work with Vibenomics Ad Market partner retailer category vendors. The company also hired New York-based Brian Liebler to be Director of National Ad Sales.
“Traditional audio, OOH, and retail media are in the midst of a digital renaissance along parallel paths that converge at Vibenomics, putting us in a unique position that resonates with a range of media buying disciplines tapping into a variety of budget sources,” says Mr. Brenner. “Josh Pyne has the right leadership experience scaling emerging media channels to seize upon this transformative opportunity. He is well on his way to building a world-class ad sales organization with the addition of respected industry veteran Brian Liebler who gives us a crucial local presence on the ground in New York.”
Before joining Vibenomics, Mr. Pyne oversaw global channel partnerships with data-driven marketing agencies and consultancies for 2 years as part of Equifax’s Enterprise Alliances organization. Earlier in his 15-year career, Mr. Pyne gained both agency and publisher side experience defining go-to-market strategy and providing executive-level sales leadership throughout the emergence of digital, mobile, and programmatic advertising. Roles included VP of Strategic Partnerships for ChaCha, VP of Account Strategy at LEAPamp, and VP, Engagement Strategy for Caperion. Mr. Pyne holds an MBA from the University of Indianapolis and a BS from Georgetown College where he played football. He is also currently a Partner at Bluegrass Snack Co, giving him unique insight on retail media from the perspective of a category vendor.
Previously, Mr. Liebler served as Vice President of Sales, US at Launchmetrics and before that, was Vice President of Advertising Sales at Whisper. He was also Vice President of Advertising Sales & Business Development at ooVoo, and over two decades, held positions of various seniority at ChaCha, Alloy Media + Marketing (now Defy Media), Y2M: Youth Media + Marketing (acquired by Viacom’s mtvU now Cheddar), XOS Digital, and CO-ED Magazine/COED Media Group (acquired by bluTonic). Mr. Liebler holds an M.B.A. in marketing from Seton Hall University.
Vibenomics, Inc. is a location-based Audio Out-of-Home™ advertising and experience company that powers custom radio stations for retailers, giving brands the ability to talk to shoppers directly at the point of sale. With its powerful cloud-based technology, licensed background music library, data integration capabilities, full-service team of audio experience experts, and network of professional voice talent available on-demand, the company provides the right revenue-enhancing vibe for over 100 advertisers in more than 4000 locations across 48 states, reaching over 150 million people.
Delivered through flexible plug-and-play mobile tablet devices, Vibenomics dynamically broadcasts hyper-targeted, in-stream audio advertisements and curated playlists within any combination of locations across its swiftly growing national footprint, unlocking a powerful new shopper marketing channel for reaching consumers during the critical final footsteps along the path to purchase. Through a first-of-its kind partner program, retailers can receive a portion of revenue for all advertisements sold by Vibenomics that play within their locations, giving them the ability to monetize their private airwaves and transform a legacy expense into a new profit center.
Founded in 2016 in Indianapolis as Fuzic, the company rebranded to Vibenomics in 2017 and is backed by $7.6 million in investments. Vibenomics was named a 2020 Best Place to Work by the Indiana Chamber of Commerce and is a finalist for “Scale-Up of the Year” in the 2020 TechPoint MIRA Awards, the biggest tech awards program in Indiana.
Vibenomics, provider of custom streaming radio stations for retailers, today announced the launch of a Convenience Store Audio Out-of-Home™ Advertising Marketplace that will generate new revenue for participating stores and help shopper marketers target customers in-store with a new form of retail media. The Marketplace launches with 4000 convenience retail locations in the U.S. across 48 states and by year’s end, will grow to more than 9000 stores.
The C-Store Audio OOH™ Ad Market provides a share of revenue to convenience stores for each campaign that runs in their locations while relieving the cost of selling and managing ads, which is handled entirely by Vibenomics, giving c-store operators the ability to generate profit and an opportunity to offset the traditional cost of business music licensing.
“What had been a cost center for providing background music feeds, can now be a new revenue stream for convenience stores, with material effect on c-store margins,” says Brent Oakley, CEO and Co-founder of Vibenomics. “Convenience store operators appreciate the unique partner program we have developed that enables them to transform the legacy music providers into a new revenue generating engine for their business, and a disruptive new marketing tool for their vendor categories.”
Martin & Bayley Inc. (DBA Huck’s), operator of 123 large-format convenience store locations across Illinois, Indiana, Kentucky, Missouri, and Tennessee, has beta tested the Vibenomics Audio Out-of-Home™ Advertising Marketplace resulting in significant sales lift and return on ad spend for its vendor category advertisers, including a 21% increase in sales for an energy drink product.
“At Huck’s, we are constantly looking to enhance the customer experience in each of our stores, while raising the bottom line,” says Jon Bunch, Director of Marketing Business Development for Huck’s. “Our category partners are excited by the new Huck’s Radio audio OOH advertising ability, and my team is pumped to be moving more product and creating a new profit center all while enhancing the in-store experience, thanks to Vibenomics.”
To better quantify the Audio OOH™ opportunity, Vibenomics leveraged location intelligence from SafeGraph alongside US census block insights to analyze visitor behavior and demographic characteristics across more than 150,000 individual points of interest in the convenience store industry. The results of this analysis are available to download as an infographic titled ‘Profile of a Convenience Store Shopper’. When compared to industry averages, the Vibenomics C-Store Audio OOH™ Ad Marketplace locations had:
The technology that powers Vibenomics enables brands to target the precise audience profile, behaviors, and locations that maximize conversions. Advertisers can choose to provide their own creative assets, or rely on Vibenomics’ full-service sonic branding studio to produce custom audio spots as a value-add, for campaigns ranging from general use national spots to highly personalized hyper-local or retailer co-branded media strategies.
“With the innovation and explosive growth happening in convenience, this retail sector has emerged as a natural fit for Vibenomics that enables our audio out-of-home advertising to reach the majority of US consumers during those critical final footsteps along the path to purchase for a diverse range of product categories,” concludes Mr. Oakley.
Vibenomics, Inc. is a location-based Audio Out-of-Home™ advertising and experience company that powers custom radio stations for retailers, giving brands the ability to talk to shoppers directly at the point of sale. With its powerful cloud-based technology, licensed background music library, data integration capabilities, full-service team of audio experience experts, and network of professional voice talent available on-demand, the company provides the right revenue-enhancing vibe for over 100 advertisers in more than 4000 locations across 48 states, reaching over 150 million people.
Delivered through flexible plug-and-play mobile tablet devices, Vibenomics dynamically broadcasts hyper-targeted, in-stream audio advertisements and curated playlists within any combination of locations across its swiftly growing national footprint, unlocking a powerful new shopper marketing channel for reaching consumers during the critical final footsteps along the path to purchase. Through a first-of-its kind partner program, retailers can receive a portion of revenue for all advertisements sold by Vibenomics that play within their locations, giving them the ability to monetize their private airwaves and transform a legacy expense into a new profit center.
Founded in 2016 in Indianapolis as Fuzic, the company rebranded to Vibenomics in 2017 and is backed by $7.6 million in investments.
Vibenomics, provider of place-based audio experience solutions and the industry’s first audio out-of-home (OOH) programmatic advertising marketplace, today announced it has closed $5 million in new funding. The Seed Plus round included current investor High Alpha, with participation from new partners Elevate Ventures and The Ricker Family, previous owners of Ricker’s convenience store chain (acquired by Giant Eagle), an inaugural customer of Vibenomics’ Audio Experience Solution.
Through its cloud-based technology and managed services, Vibenomics enables location-based businesses and connected cities to create and control their background musical vibe to enhance sales and enrich the customer experience. The company recently launched an audio out-of-home (OOH) advertising marketplace enabling brands to reach a national audience of nearly 150 million consumers or target any combination of 4000 individual locations. Brands as well as Vibenomics ad marketplace locations reported consistently positive results, with one retail chain partner achieving 42% sales lift and $1.9 million incremental revenue for an entertainment category advertiser.
“The new funding will be used primarily to expand the advertising marketplace by increasing the number of participating locations and building out the ad sales team,” says Brent Oakley, founder and CEO of Vibenomics. “We will focus on real-time custom branded and curated content, dynamic music and programmatic advertising across strategic marketing verticals and categories.”
“The nature of audio has changed dramatically in recent years, but Vibenomics has tapped into a very real desire by national and local brands to reach captive, on-the-go consumers in the places where they shop, work, travel, and play,” says Vibenomics Chairman, Scott McCorkle. “Background audio has proven ability to directly impact purchase decisions and trigger impulse buys in-store. Vibenomics has significant growth potential, and is making impressive progress in both its technology and go-to-market strategy.”
Before the company was renamed Vibenomics in 2017, it raised $280,000 from friends and family and $3 million in Seed funding as Fuzic LLC. As Vibenomics, Inc. it has now raised an additional $5 million in venture and private investment funding as part of this latest Seed Plus round, bringing total investments to $8,280,000. Vibenomics plans to raise Series A institutional funding in 2020.
High Alpha is a leading venture studio focused on building next-generation enterprise cloud companies through a new model for entrepreneurship that unites company building and venture capital. The High Alpha team partners with entrepreneurs, investors and large corporations to conceive, launch and scale new software companies.
Vibenomics, Inc. is a technology company that enables location-based businesses and connected cities to create and control their background musical vibe to enhance sales and enrich the customer experience. Through curated playlists and professionally voiced promotional announcements, the company provides the right revenue-enhancing vibe for over 4000 locations in 45 states, and gives over 100 brands the ability to speak directly to nearly 150 million consumers right at the point-of-sale through its Audio Out-of-Home Advertising Marketplace.
Fully managed online, Vibenomics is easy to use for businesses or connected cities with a single location, yet powerful enough for larger, multi-site organizations. Clients work with Vibenomics Audio Experience Managers who control music, messaging, and advertising to customize the vibe in each location. Professional voice talent produces location-based messages that can be ready for play within hours of client requests.
Founded in 2016 in Indianapolis as Fuzic, the company rebranded to Vibenomics in 2017. Vibenomics was a finalist for “scale-up of the year” in the 2018 Mira Awards, the biggest tech awards program in Indiana.
Triton Digital®, the global technology and services leader to the digital audio and podcast industry, announced today that Vibenomics, a cloud-based managed service provider of audio experience solutions to location-based businesses and connected cities, has selected Triton Digital to help monetize the new Vibenomics Audio Out-of-Home (AOOH) Advertising Marketplace. The Marketplace enables brands to reach a national audience of nearly 150 million unique consumers or target any combination of 4,000 individual locations (soon to double in size).
Through this partnership, Vibenomics will use Triton’s sophisticated ad server, Tap, to dynamically insert engaging and relevant audio ads into its streaming background audio experience solution licensed by multi-site organizations such as retailers, restaurants, public spaces, amusement parks and attractions, enabling brands to reach their target audiences directly at the point-of-sale. To support their goals of connecting advertisers to consumers where they shop, explore, and spend, Vibenomics will leverage Triton’s programmatic audio marketplace and SSP to make its audio out-of-home inventory available to programmatic buyers through both open and private marketplace deals.
“Vibenomics has built an innovative new audio marketing channel that is driving sales results for advertisers while enhancing the customer experience for location-based businesses and public spaces,” said John Rosso, President of Market Development at Triton Digital. “We are pleased to provide them with the technology and support they need to take that to the next level through the power and efficacy of dynamically inserted audio ads.”
“Triton Digital shares our passion for innovation, and our commitment to helping clients leverage the power of digital audio to create highly engaging and relevant experiences wherever they may be,” said Paul Brenner, Chief Strategy Officer at Vibenomics. “We are thrilled to be utilizing Triton’s leading programmatic ad tech and talented team to further enhance our place-based streaming audio offering and grow our business.”
Triton Digital® is the global technology and services leader to the digital audio and podcast industry. Operating in more than 40 countries, Triton provides innovative technology that enables broadcasters, podcasters, and online music services to build their audience, maximize their revenue, and streamline their day-to-day operations. In addition, Triton powers the global online audio industry with Webcast Metrics®, the leading online audio measurement service and Podcast Metrics, one of the first IAB certified podcast measurement services in the industry. With unparalleled integrity, excellence, teamwork, and accountability, Triton remains committed to connecting audio, audience, and advertisers to continuously fuel the growth of the global online industry. Triton Digital is a wholly owned subsidiary of The E.W. Scripps Company (NASDAQ: SSP). For more information, visit www.TritonDigital.com.
Vibenomics, Inc. is a technology company that enables location-based businesses and connected cities to create and control their background musical vibe to enhance sales and enrich the customer experience. Through curated playlists and professional voice announcements, the company provides the right revenue-enhancing vibe for over 4000 locations in 45 states and gives over 100 brands the ability to speak directly to more than 150 million consumers right at the point-of-sale through its Audio Out-of-Home Advertising Marketplace.
Fully managed online, Vibenomics is easy to use for businesses or connected cities with a single location, yet powerful enough for larger, multi-site organizations. Clients work with Vibenomics Audio Experience Managers who control music, messaging, and advertising to customize the vibe in each location. Professional voice talent produces location-based messages that can be ready for play within hours of client requests.
Founded in 2016 in Indianapolis as Fuzic, the company rebranded to Vibenomics in 2017 and is backed by $7.6 million in investments from High Alpha, Allos Ventures and Hyde Park Venture Partners among others.
The Vibenomics team is thrilled to announce that, along with our awesome partners Lassus Handy Dandy and Downtown Indy, Inc., we have qualified as finalists for MediaPost’s 2019 Digital OOH Awards! This awards program honors “the most creative, innovative and effective communications in digital out of home media” with recognition given to organizations leading the way in out-of-home advertising innovation.
Qualifying in the venue or location-based category of honorees, we are honored to be recognized alongside respected global brands like Nissan, United Airlines, Netflix, and Adidas. Read more about our award submissions and how two of our co-nominated partners are capitalizing on the power of the Vibenomics Audio Out-of-Home Advertising Marketplace:
(more…)Since our launch in 2017, Vibenomics has helped thousands of location-based businesses and connected cities create and control the right audio “vibe” in their environments driving enhanced sales and enriching visitor experiences. In the process, we have created a national footprint that we know will be much sought after by both audio and out-of-home (OOH) advertisers. Today, we are pleased to announce the launch of the Vibenomics Audio Out-of-Home Advertising Marketplace, offering advertisers access to 150 million on-the-go consumers in the places where they shop, work, travel, and play.
To shepherd the official launch of our Audio Out-of-Home Advertising Marketplace, Vibenomics has brought on visionary broadcast and technology veteran Paul Brenner, a former President of NextRadio/TagStation and SVP of Emmis Communications, to serve as Chief Strategy Officer.
Prior to developing our new Audio Out-of-Home Advertising Marketplace, the Vibenomics team spent two years focused on building a location-based audio experience solution that’s easy to use for a single site, yet powerful enough to handle the most complex demands of multi-site organizations. The result was a complete solution for managing audio experiences that combines cloud technology with full-service audio programming and content production capabilities. Our audio experience offering has quickly scaled to over 4,000 environments, reaching over 150 million unique visitors annually with just the right mix of licensed background music, professionally recorded voice messaging, and live announcements.
The right music and announcements enable retailers, chains, and connected cities to create differentiated experiences that engage audiences in memorable, non-intrusive ways when and where other mediums cannot. That’s the power of Vibenomics: enabling locations to dynamically control their vibe ensuring an environment conducive to building brand loyalty and driving higher sales.
The appeal of audio out-of-home advertising as part of the shopper marketing mix has already attracted over 100 local and national advertisers who participated in an 8-month beta testing program with targeted ads running in retail stores, attractions, and public spaces such as Royal Farms, Ricker’s (acquired by GetGo), Georgia Street in Downtown Indianapolis, The Waterpark at Monon Center, and Grand Park Sports Complex. Participating advertisers include Monster Energy, Live Nation, General Mills, Body Armor, Pepsi, Purdue University, and Red Bull. Brand advertisers as well as our advertising marketplace locations reported consistently positive results, with a retail chain partner achieving 42% sales lift and $1.9 million incremental revenue for an entertainment category advertiser.
“How and where audio is consumed is changing rapidly with the emergence of podcasting, streaming services, and smart speakers, but inventory has been limited. Vibenomics is enabling brands to make the most of the emerging digital audio ecosystem by unlocking a whole new placement option that serves both the audio and OOH advertiser markets. We will build up our Audio Out-of-Home Advertising Marketplace with real-time custom branded and curated content, dynamic music and programmatic advertising across all marketing verticals and categories.”
— Paul Brenner, Chief Strategy Officer
Our customers, as well as the broader audio and OOH advertising ecosystems, all echo the same message about the potential for our new audio out-of-home offering. Here’s what our Executive Chairman Scott McCorkle had to say about this important new direction for Vibenomics:
“The OOH market is expected to grow from $8 billion to $11.5 billion through 2022, and we are already taking market share from others by offering more efficiency and better results. The Vibenomics Audio Out-of-Home Advertising Marketplace is proving very attractive to national advertisers. They want to reach the unique audience we have created and amplify the voice of their brands in an entirely new way – right at the point of sale – when it matters most.”
— Scott McCorkle, Executive Chairman, Vibenomics
The Out of Home Advertising Association of America reports that the out-of-home (OOH) industry is experiencing growth not seen in more than a decade. Revenue grew 7.7% to nearly $2.7 billion for the second quarter of 2019 compared to the same period in 2018, marking the sector’s highest quarterly growth since 2007. For the first half of the year, revenue was up 7%. The strong quarterly growth occurred across all four major OOH channels: billboards, street furniture, transit and place-based. Moreover, nearly 70% of the top 100 advertisers in the space increased their spend in the second quarter compared to the same timeframe last year, while 25% more than doubled their OOH investment.
For more about Vibenomics, you can read our story here.
Lee Marcum, CEO of Jack’s Donuts, was recently featured as a guest on the Hard Stop Podcast where he discussed the tangible ROI realized across all his locations since rolling out “Jack’s Donuts Radio” through Vibenomics Audio Experience Software (AES) and the Vibenomics Ad Market.
The Vibenomics & Jack’s Donuts partnership began in 2017 when both organizations were in important growth phases of their businesses – Jack’s Donuts with only four locations (now with over 20!). At that time, Marcum didn’t realize that private radio networks with promotional messages – like what was heard in “Big Box” stores would be an option that was available to him as a small business owner.
When rolling out Vibenomics, Marcum and his team utilized the software for the promotion of their active deals. They found that during high traffic periods – typically Saturday and Sunday mornings – they had long lines, causing their retail associates to miss out on opportunities to upsell daily specials or promote initiatives like fundraising and catering with their captive in-store audience waiting to order.
Promotional in-store audio marketing messages were the perfect solution. Now, the speaker system in each Jack’s Donuts location is not just for background music, evolving into an entirely new in-store marketing channel that elevates the customer experience, and drives higher transaction amounts. The icing on the cake donut: with audio messaging inventory Jack’s Donuts doesn’t use for self-promotion, they’ve opted in to enable outside advertisers to speak to their customer base, generating additional revenue for Jack’s Donuts through a Vibenomics Ad Market partner revenue share program.
“[Vibenomics] is putting more money in our pockets than the thousands of dollars that we were spending on traditional advertising” – Lee Marcum, CEO
Outside of achieving measurable financial returns, Marcum notes that the biggest difference from their previous audio provider is Vibenomics’ fresh and innovative approach to advertising. Click below to listen to the full interview.
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