Vibenomics, a leader in in-store audio advertising, has appointed Steve Triplett as its new Vice President of Advertising Sales. With a strong background in digital media sales leadership, Triplett brings a wealth of experience and expertise that will be pivotal in driving Vibenomics’ in-store advertising sales efforts to new heights.
Triplett’s previous experience includes executive leadership roles with multi-platform media companies including Beasley Media Group and Triad Retail Media, where he led new client development for one of the pioneering firms in the retail media space. He also founded Contact Media, a Tampa-based digital media planning and placement agency, and served on the Digital Marketing Advisory Board for the University of South Florida.
“In-store is the next frontier in retail media and provides brands with fast, easy access to active shoppers at the point of purchase. The Vibenomics platform combines the reach of traditional media with precision programmatic targeting across a nationwide network of over 25,000 bricks and mortar locations,” said Triplett. “We’ve created something that never existed before at this scale, allowing brands to reach 170M unique shoppers and over 1 billion monthly shopping occasions from a single source. It’s stimulating and rewarding to be a part of such a pivotal moment in the evolution of this space.”
In his new role at Vibenomics, Steve will lead the sales organization, overseeing a team of talented retail media sales experts. His responsibilities will include driving revenue growth, developing strategic partnerships, and expanding the company’s presence in the retail media landscape.
“As Vibenomics scales its networks across the US and globally, Steve’s appointment as our VP of Advertising Sales reinforces our commitment to becoming a best-in-class retail media in-store provider,” said Brent Oakley, EVP of Mood Media Advertising and President of Vibenomics. “We are confident that his leadership will drive our advertising sales to new heights and contribute significantly to our continued success in the retail media landscape.”
Vibenomics, a Mood Media Company, is the leading in-store digital provider. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and to connect with consumers via display, audio, and experiential channels.
Ready to enhance your in-store advertising game with in-store audio? Engage with Vibenomics today and make 2024 a year of unparalleled success for your in-store campaigns!
In the dynamic world of retail, where the intersection of physical and digital realms shape the landscape of consumer engagement, the P2PI Live 2023 event emerged as a beacon of insights and innovations.
This year’s event delved into the pressing issues facing retailers and marketers, unveiling strategies to bridge the ever-widening gap between the physical and digital divide. Join us as we unravel the key highlights and takeaways from P2PI Live 2023, where industry leaders explored the evolving nature of consumer preferences and ushered in a new era with “Return on Relationship” (RoR) taking center stage as the new metric of success.
In the engaging session titled “Better Together: Innovating the Future of Omnichannel Retail Media,” a distinguished panel featuring Paul Brenner from Vibenomics, Nate Pinkston from Microsoft Advertising, and moderated by Andy Murray of bigQUEST explored the transformative partnership between Vibenomics and Microsoft Advertising.
Nate emphasized Microsoft Advertising’s broad perspective on retail media and the crucial need to bridge the gap between the physical and digital realms. The discussion delved into the increasing interest in in-store media, catalyzed by industry recognition and resources like the IAB Retail Media Buyer’s Guide.
A key takeaway was the collaborative study’s objective: integrating e-commerce and in-store programmatic for proof of performance. The panel highlighted the significance of measuring the effectiveness of joint exposure to in-store and onsite tactics, emphasizing the commitment and collaboration required for successful analytics.
Paul and Nate presented compelling case study results, revealing a substantial 40% rise in household spending and a 50% increase in category share when compared to the isolated implementation of either tactic. The conversation underscored the importance of commitment and collaboration, highlighting Microsoft’s dedicated involvement. The panel encouraged active engagement from brands in this evolving space, recognizing the sophistication and testing required for successful analytics.
Looking to the future, the panel advocated for a “better together” approach, unveiling an aggressive go-to-market strategy. Paul and Nate offered a glimpse into the exciting trajectory of their partnership, hinting at continued innovation and collaboration in the dynamic realm of omnichannel retail media. The session illuminated the current retail landscape and showcased the potential for transformative partnerships to shape the future of retail advertising.
In the informative session titled “Turning Insights to Inspiration: A Journey into In-Store Consumer Motivation,” by Jaime Bettencourt of Mood Media and Cyndi Loza of P2PI, key takeaways emerge regarding the significance of the in-store experience. The audience profile in Mood Media and P2PI’s “Engaging Shoppers In-Store Report” reveals that 52% of individuals shop in physical grocery and supermarket locations.
Jaimie identified two pivotal areas of consumer engagement: shaping perceptions to attract shoppers and engaging experiences that drive passive to active engagement. The discussion emphasizes the role of sensory elements, such as scent, with case studies highlighting the impact in establishments within Hospitality, Grocery, Retail Verticals, all utilizing technology to bring products to life.
Notably, 37% of consumers enjoy discovering new products at retailers, presenting an opportunity for in-store marketers. Customer trends underscore the importance of creating moments for learning, providing hands-on experiences, and making interactions personal, relevant, and meaningful. A practical example is cited in a well known women’s clothing and beauty retailer, employing wireless tabletop displays to enhance flexibility with different merchandise displays.
The key takeaways stress the need for retailers to strategically shape perceptions, employ engaging experiences, and leverage technology to cater to evolving consumer preferences.
The illuminating session titled “Return on Relationship – The New ROAS” delved into the evolving dynamics of retail media from industry experts Kelly Kachnowski from The Mars Agency, Jeffrey Bustos from IAB, and Vin Lay from Albertsons Media Collective.
The key takeaways from their insights emphasize the importance of a holistic approach to retail media success, stressing collaboration among partners and the implementation of comprehensive measurement strategies. The extensive measurement of media delivery and engagement encompasses metrics such as impressions, click-through rates (CTR), views, and completion percentages. Evaluating shopping actions involves assessing store foot traffic, coupon clicks, and samples delivered. Conversion is found through attributed sales, return on ad spend (ROAS), percentage of new buyers, and sales lift, with an added value measured by distribution and return on relationships (ROR).
A central theme emerged around aligning values and harmonizing Key Performance Indicators (KPIs) for mutual benefit, encouraging a culture of continuous education and innovation. The panel emphasized the necessity of collaboration among brands, agencies, and retailers for impactful results, stressing the importance of long-term, cross-functional goals and a commitment to continuous testing in the ever-evolving retail landscape.
The session underscored the nuanced dynamics of retail media, advocating for a collaborative and strategic approach to seamlessly integrate physical and digital experiences in a truly omnichannel retail landscape.
The Path to Purchase Institute LIVE event was a beacon of enlightenment, unraveling the intricate threads of the ever-evolving retail media landscape. From transformative partnerships and in-store motivation to redefining Return on Relationship, each insight offered a glimpse into the future of retail.
As industry leaders pave the way for a truly omnichannel retail experience, the future appears promising and filled with opportunities for those ready to embrace the dynamic changes in the retail world. Collaboration, innovation, and the seamless integration of physical and digital experiences are the cornerstones of success in this dynamic industry!
Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help its members stay up-to-date on industry trends and best practices.
Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider with 23,600+ shopping locations in the U.S. Our platform provides a single, all-in-one Retail Media network, empowering advertisers to deliver an on-premise experience and to connect with customers via display, audio and experiential channels.
Ready to learn how Vibenomics can elevate your Retail Media strategy with in-store advertising? Click here to engage with Vibenomics today!
The collaboration creates national reach, alleviates fragmentation and brings consistency to buying in-store. Our diverse retailer network brings ubiquity to advertisers..
Brands demand transparency of buying and insights of the results. This collaboration aligns with the rapidly growing Retail Media investments through our extensive shopping audience spanning 25,000+ locations and 800 million monthly shopping visits to answer both of those demands. Enabling campaign activation across retailers and verticals allows agencies to make a buy that creates impact and influence.
By opening up all networks to both sales teams, we can drive demand for everyone. Alongside the retail media networks own in-store sales efforts, our teams will add national ad spending across the portfolio. This unified approach, including our top-tier turn-key production services and comprehensive reporting, ensures acceleration of how a retailer monetizes in-store audio and display.
While the entire network is ‘accessible’ today, our goal is for all networks to be on a single software platform by early-2024. Notable retail locations within this network include Kroger, Albertsons, CVS, Safeway, Southeastern Grocers, Hy-Vee, Rite Aid, Food Lion, Giant Martin and many more. This gives advertisers a broad reach across diverse retail segments, reaching over 800 million shopping visits monthly, in 25,000+ store locations and more than 10 exposures per month per shopper.
Each of advertising clients will continue to work directly with a designated account representative and their Ad Ops Lead for customer success. Regardless of which network the brand is running ads on, your single point of contact will remain the same.
Aside from measurement supported by third-party partners, our measurement options applied to this network include:
This collaboration offers a platform for brands to connect with their target audience on a large scale through audio in-store, targeting by:
The Interactive Advertising Bureau (IAB) has included in-store digital advertising, along with onsite and offsite solutions in its 2023 Retail Media Buyer’s Guide. With U.S. retail media spend projected to increase from $31B in 2021 to $61B in 2024, accounting for over 17% of total U.S. digital ad spending, this growth highlights the vital role of in-store advertising in driving retail media and enhancing consumer engagement.
As in-store shopping continues to attract a larger audience compared to online platforms, the significance of digital retail media ad spending becomes even more apparent. Digital retail media ad spending is estimated to reach $40.81 billion in 2022 — more than triple its pre-pandemic levels — and expected to reach $61.15 billion in 2024. According to Forrester’s 2022 Retail Media Ad Sales Report, experts predict ad revenue growth across retail media networks in the U.S. market will double over the next four years.
By incorporating in-store offerings into their overall Retail Media strategy, retailers enhance the customer experience and enable effective mid-lower funnel advertising, empowering brands to target consumers at a critical point in the buying journey. This approach allows brands to deliver personalized messages that resonate with shoppers, increasing engagement and the likelihood of conversion.
Some effective mid-lower funnel strategies involve retargeting users who have previously interacted with a brand and utilizing dynamic product ads to showcase relevant products or services. These strategies aim to re-engage and remind users of their interest, increasing the chances of conversion and driving sales.
The In-Store digital advertising solutions, as described in the Buyer’s Guide, include multi-touch models and omnichannel strategies, enabling retailers to optimize and assess the effectiveness of in-store digital messaging. This definition reflects the evolving retail landscape in our dynamic “phygital” world, where physical shopping experiences meet innovative technologies to deliver an elevated and interactive consumer journey.
Mood Media’s acquisition of Vibenomics creates a single point of integration for retail media platforms to access, deliver, measure and evaluate on-premise digital impressions via multi-touch models and omnichannel strategies such as the following:
Brands can tap into the value of retailers’ first-party data to utilize the digital technologies of retail media networks (RMNs) and leverage their in-depth understanding of customer preferences and behavior. The result leads to brands effectively targeting the right customers with their ads and campaigns, maximizing the impact and relevance of their marketing efforts. These innovative in-store strategies can help retailers create a dynamic, immersive environment, captivating shoppers, encouraging interaction and driving sales and customer loyalty.
As the IAB and its members have incorporated in-store digital advertising into the retail media buying landscape, there is a growing demand for modernization from brands seeking simplified and innovative approaches aligned with modern measurement standards.
The IAB has recognized the importance of in-store digital advertising for retailers and brands who want to engage consumers more effectively at the point of sale. Unlike the traditional, segmented approach, omnichannel strategies integrate onsite, offsite and in-store channels seamlessly, providing customers with a streamlined and cohesive shopping experience.
This shift towards omnichannel strategies has benefitted retailers, with omnichannel consumers making purchases 70% more frequently. Phygital environments are an advanced iteration of omnichannel retail, combining in-store experiences and the technology of online environments. Brands and retailers must embrace digital solutions and personalized experiences to thrive in the evolving retail landscape. There are various options available for advertisers to capitalize on this trend. For instance, Kroger and Hy-vee have ventured into digital audio in-store to improve the customer experience and increase sales.
Brick-and-mortar retailers should leverage retail media teams to carry out advertising strategies, monetize their physical spaces and enhance their revenue streams. Retail media teams can:
Vibenomics is a single integration point for retail media platforms to access, deliver and measure in-store digital impressions. With Mood Media’s advanced on-premise digital solutions, Vibenomics offers a turnkey solution – simplifying ad-buying and enhancing retailers’ owners’ management of customer experiences. This strategy equips brands and retailers to maximize and measure the impact of in-store digital messaging via multi-touch models and omnichannel approaches.
Over six years, Vibenomics has helped U.S. retailers increase purchase likelihood by up to 77% using audio in-store advertising. Understanding the needs of brands and retailers, Vibenomics has worked to create a simple solution for managing their owned and operated assets while integrating smoothly with other media in their stores.
Retailers can’t deny the importance of in-store digital advertising. Vibenomics, now within IAB’s 2023 Retail Media Buyer’s Guide, is undeniably positioned to provide retailers with in-store solutions that complement and strengthen the effectiveness of Onsite and Offsite strategies.
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Paul Brenner
Vibenomics // Senior Vice President, Retail Media and Partnerships
With more than 25 years of experience in media & entertainment and advertising technology leadership, Paul Brenner served in several c-suite roles including division President with Emmis Operating Company [NASDAQ:EMMS]. As President of NextRadio/TagStation his work focused on global innovation through FM Chip activations in all smartphones for audience measurement, improved in-car user experiences, and data attribution platforms for all broadcast radio. In 2019, Paul joined Vibenomics as Chief Strategy Officer to help develop the go-to-market strategy for the company’s first-to-market Audio In-Store advertising solution. Following a successful launch, Brenner was promoted to President of Audio OOH to oversee all efforts surrounding revenue-generating activity and related partnerships. After the company’s recent integration with Mood Media, Paul was promoted to SVP of Retail Media and Partnerships, where he works to evangelize and innovate the In-Store segment of Retail Media.
Even amidst the haze of wildfire smoke, our time in Chicago at the Path to Purchase Institute’s (P2PI’s) Retail Media Summit was nothing short of extraordinary! P2PI’s Retail Media Summit is an annual event with the goal of breaking away from traditional patterns of thinking and encouraging attendees to tap into new strategies that fully leverage the power of Retail Media. By embracing innovative approaches and adopting effective Retail Media strategies, participants can enhance their omni-channel initiatives and drive better results for their brands.
There was a wide array of industry topics covered at this year’s P2PI’s Retail Media Summit designed to help CPG brands and retailers navigate the complicated and rapidly shifting arena of Retail Media.
A few agenda items to highlight from this year’s Retail Media Summit include:
If you missed out on this year’s Retail Media Summit or just need a refresher, fret not! Here are Vibenomics’ 3 key insights from the 2023 Retail Media Summit –
Retail Media is changing advertising’s impact and effectiveness. Keynote speaker Andrea Leigh, founder of Allume Group, stated, “Advertising is the force that opens up people’s minds to new possibilities.” Leigh’s statement highlights the influential role that advertising plays in shaping consumer behavior and perceptions. In the context of Retail Media, which refers to advertising strategies and technologies employed by retailers to monetize their digital platforms and reach their customers, there’s been notable shifts in the impact and effectiveness of advertising strategies and solutions.
One of the key advantages of Retail Media is its ability to reach and influence consumers at every stage along the shopping journey. Through targeted advertising on their digital platforms, retailers can engage with customers during the awareness stage, introducing them to new products and brands. By tailoring advertisements based on consumer preferences and browsing behavior, retailers can deliver meaningful messages that resonate with the audience, capturing their attention and encouraging them to explore new products.
Retail Media has revolutionized the way consumers interact with advertising. By leveraging their digital platforms and first-party loyalty data, retailers enable brands to deliver personalized and targeted omni-channel campaigns that open up new possibilities for consumers. This shift has not only made advertising more effective but has also allowed retailers to measure and optimize their campaigns more accurately. As a result, advertising has become a powerful force in influencing consumer perceptions and driving consumer behavior in the modern retail landscape.
Meeting shoppers in the physical store is a critical element of implementing a successful Retail Media strategy. Despite the growth of e-commerce and online shopping, 91% of sales happen in-store. In-store is also the closest proximity to the product. Therefore, it’s important for retailers to focus on enhancing the in-store experience and leverage Retail Media to engage and influence shoppers.
Brands increase their reach by 70% when they focus on in-store. Andrea Leigh (Alume Group) shared a bar chart that compared in-store US monthly audience reach to digital US monthly audience reach. The data showed an increased audience reach in-store compared to digital for well-known retailers like Lowes, Walgreens, Kroger, and Costco. This information underscores the importance of investing in strategies that optimize the in-store experience and effectively utilize Retail Media to engage and influence shoppers.
There’s no denying that technology advancements are making it easier and more efficient to put the right content in front of the right customer when propensity to spend is highest. While sometimes digital displays can limit the impact of shopper behavior due to restricted exposure and engagement, in-store audio’s ubiquitous nature has the ability to influence shoppers at the point of purchase because:
Think of the shopping journey as a funnel. Brands want to increase awareness through audio in-store, drive intent by getting the shopper to the right aisle, and enable conversion by getting the shopper to care enough to make a purchase.
ROAS (Return on Ad Spend) is a crucial metric for measuring the effectiveness of advertising campaigns in terms of generating revenue. However, when it comes to Retail Media, there are additional metrics and considerations beyond ROAS that are important to understand and leverage in determining whether or not a campaign is deemed successful. One such aspect is the focus on consumer relationships. Advertisers can gain a comprehensive understanding of the impact of their advertising efforts through the following metrics:
Consistent measurement remains a crucial aspect in assessing campaign success. Standardizing reporting and data transparency is a top priority, although it requires significant effort from both brands and retailers to establish this consistency and measure impact accurately.
While ROAS remains an essential metric for measuring the financial performance of your advertising efforts, it’s crucial to recognize the broader benefits of Retail Media beyond immediate sales lift. By focusing on consumer relationships, you can cultivate loyalty, advocacy, and long-term value, ultimately contributing to the growth and success of your business.
P2PI’s Retail Media Summit proved to be a beneficial event, offering a deep understanding of the ever-changing landscape of Retail Media. The knowledge gained from this event will undoubtedly benefit CPGs, retailers, and solution providers in their pursuit of enhancing omni-channel initiatives and achieving superior outcomes for their brands and businesses.
By embracing the insights shared at the summit, organizations can navigate the evolving world of advertising, recognize the significance of engaging with shoppers in-store, and prioritize consumer relationships in their measurement strategies. Armed with this knowledge, they will be well-equipped to adapt to the dynamic nature of Retail Media, connect with their target audience effectively, and achieve sustainable growth in the competitive retail industry.
Onto the next one! Don’t miss out on P2PI LIVE 2023 in St. Louis this upcoming November. P2PI LIVE is a premier event that aims to provide a comprehensive and enriching experience for professionals in the commerce marketing industry. Join Vibenomics as we continue to revolutionize the next generation of Retail Media in-store!
Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. They focus on helping businesses understand and optimize the consumer journey from the initial consideration of a product to the final purchase decision.
P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help their members stay up-to-date on industry trends and best practices. They also provide a platform for networking and collaboration among professionals in the consumer packaged goods (CPG) industry.
Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one Retail Media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels.
Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of Retail Media. Ready to learn how Vibenomics can elevate your Retail Media strategy? Click here to engage with Vibenomics today!
How is it June already? It feels like it was just yesterday that we grabbed our beaded necklaces and eagerly headed down to New Orleans in May to attend Path to Purchase Institute’s (P2PI’s) Future Forward 2023 event.
P2PI’s Future Forward event is an annual conference that brings together industry leaders and professionals to discuss the latest trends, innovations, and strategies in the consumer packaged goods (CPG) industry. The event attracts a diverse group of attendees from a variety of backgrounds, including:
At this year’s Future Forward event, attendees had the opportunity to participate in educational sessions, networking events, and keynote speeches delivered by industry experts in the CPG field.
There was a wide array of topics covered at Future Forward 2023 which included shopper behavior and trend forecasting, the future of commerce via in-store experience, social commerce, metaverse and beyond!
A few agenda items to highlight from Future Forward 2023 include:
If you weren’t able to attend this year’s Future Forward event, or just can’t read your handwriting from your notes (we’ve all been there!), we’ve got you covered.
These are the top 5 takeaways from Future Forward 2023 that stood out to us:
The event highlighted the growing importance of digital in-store experiences, emphasizing that these innovative strategies are becoming a permanent part of the retail landscape.
Ari Peralta, neuroscientist and CEO of Arigami, presented 5 ways for brands and retailers to turn to neuroscience and technology to give them a competitive edge with design:
The trends above emphasize the convergence of in-store technology to enhance consumer experiences, creating immersive, interactive, and emotionally resonant brand interactions.
In P2PI’s blog post, “Future Forward: Amplifying Consumer Experiences,” Peralta highlights that incorporating multisensory cues in a store can increase shopper’s stay by up to 51%, while also noting that 52% of consumers have abandoned e-commerce sites due to poorly curated offerings.
One of many notable findings in the P2PI’s “Shopper Engagement with Retail Media” research report identified that 48% of shoppers say in-store audio encourages them to locate products in-store and consider purchasing — the same amount as with video ads and digital screens. To capture and maintain shoppers’ attention in the crowded retail landscape, brands MUST invest in efforts designed to maximize customer interaction.
With the evolving in-store environment, it is vital that navigating the shopping experience remain simple. With consumers desiring a simplified and straightforward shopping experience, retailers must focus on creating a smooth transition between onsite, offsite and in-store channels. Brands, too, must ensure that messaging is consistent and relevant to each individual shoppers’ journey.
Paul Brenner, SVP of Retail Media Strategy and Partnerships at Vibenomics, says that for the past several years, the retail landscape has evolved to become all about the customer experience. Technology helped elevate digital ecommerce – an evolution no doubt accelerated by the global health crisis. But nearly 95% of shoppers have returned to physical stores with an expectation that their in-store experiences will deliver as well as online shopping.
Brands want to shift their budgets to be more inclusive of Retail Media In-Store digital advertising strategies within their omnichannel campaigns – alongside traditional onsite and offsite tactics.
A significant majority of buying (92%) still occurs in-store, while only a small portion (8%) happens online. Brands can truly influence shoppers at the point of purchase with in-store tactics by creating compelling and interactive experiences that engage all the senses and leverage personalized promotions to drive conversion and brand loyalty.
Brands are adopting an omnichannel approach with single, unified campaign objectives. The focus is on seamless omnichannel buying experiences, integrating various channels rather than treating them separately.
The question we hear at Vibenomics is, “how do brands catch shoppers’ attention with ads and deliver a personalized experience similar to what’s available via online platforms?” Enter RMNs, providing omnichannel solutions to these challenges. Retailers can broadcast targeted audio advertisements in brick-and-mortar stores to promote products near the point of sale and in the aisles.
Data silos between onsite, offsite, and in-store channels were identified as a challenge in proving incrementality and, therefore, preventing effective omnichannel investment.
The pressure is on retailers to demonstrate the value and incrementality of Retail Media solutions by proving the effectiveness of omnichannel (onsite, offsite, and in-store) campaign strategies. The importance of breaking down these data silos to gain a comprehensive understanding of the customer journey was emphasized.
After an immersive and thought-provoking experience at Future Forward 2023, several key takeaways emerged that shed light on the evolution of the in-store experience, the importance of a simplified shopping journey, and the significance of brands transitioning to a true omnichannel approach with unified campaign objectives.
By understanding and implementing these top takeaways, retailers and brands can stay ahead of the curve, create meaningful connections with their customers, and establish a strong foundation for sustained growth in the years to come.
As one event ends, another one approaches! Don’t miss out on P2PI’s 2023 Retail Media Summit in Chicago this upcoming June. Attendees will gain invaluable insights into the latest trends, strategies, and technologies that are shaping the future of retail media. Mark your calendars and be sure to join Vibenomics at the 2023 Retail Media Summit as we explore the future of retail media together!
Path to Purchase Institute (P2PI) is a global association that provides insights, knowledge, and networking opportunities to consumer goods professionals involved in the path to purchase. They focus on helping businesses understand and optimize the consumer journey from the initial consideration of a product to the final purchase decision.
P2PI offers a variety of resources, including research reports, case studies, webinars, and events, to help their members stay up-to-date on industry trends and best practices. They also provide a platform for networking and collaboration among professionals in the consumer packaged goods (CPG) industry.
Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one retail media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels.
Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of retail media. Ready to learn how Vibenomics can elevate your Retail Media strategy? Click here to engage with Vibenomics today!
Transaction provides greater scope and scale for advertisers and increased revenue opportunities for brands
AUSTIN, TX – March 21, 2023 – Mood Media, the world’s premiere on-premise experiential technology and media company, has acquired Vibenomics, the leading in-store digital advertising solution provider. Financial terms of the transaction were not disclosed.
Mood provides on-premise media software solutions to more than 500,000 business locations in more than 140 countries through a cloud-delivered content platform, including curated music, messaging, digital signage, content management, and scent marketing. Combining Mood Media’s breadth and scale as the leading in-store experience provider with Vibenomics’ differentiated technology position in on-premise media solutions enables deeper insights for advertisers, increased revenue opportunities for brands, and greater consumer engagement and analytics at the point of sale.
The announcement comes at a time when retail media networks are booming, with U.S. retail media spend increasing from $31B in 2021 to a projected ad spend of $61B in 2024. This spend represents 17.2% of total U.S. digital ad spending — indicating the important role of retail media in the next generation of on-premise advertising and consumer engagement.
Malcolm McRoberts, CEO of Mood Media, said “Mood Media is committed to delivering the next generation of in-store technology solutions. Vibenomics extends these efforts by strengthening our ability to deliver highly effective programmatic advertising that enhances consumer engagement, provides critical analytical insights, and helps our customers and partners super charge their business results. Put simply, our goal is to be the leading, end-to-end cloud-enabled provider of fully-integrated on-premise media experiences and the combination with Vibenomics and their outstanding management team allows us to accelerate that journey.”
With Mood Media’s advanced on-premise digital solutions for display and audio, this new-to-market turnkey solution creates a simplified ad-buying experience for advertisers while enhancing the management of the customer experience and the associated return-on-investment for retail owners. It’s a single point of integration for retail media platforms to access, deliver, measure and evaluate on-premise digital impressions. Retailers will be equipped to maximize and measure the impact of on-premise digital messaging via multi-touch models and omnichannel strategies, as anticipated to be outlined in the 2023 IAB’s retail media categories, definitions and buyers guide.
“As champions of innovation, we believe that retail media networks represent the future of on-premise digital experiences for brands, retailers, and consumers, and they are an important component of any marketer’s digital ad campaign,” said Brent Oakley, CEO at Vibenomics. “Joining forces with Mood is an important step toward innovating retail media. It allows Vibenomics to massively expand our reach and that of our advertising partners and media networks, while delivering a greater level of sophistication to the retail marketplace.”
About Mood Media
Mood Media is the world’s leading experiential media company that maximizes the Customer Experience and provides value for businesses and brands worldwide. Our fully integrated solutions leverage advanced digital technology, curated and original creative content, and design expertise to make every shopping and guest experience more personal and more engaging. Serving more than 500,000 customer locations in more than 140 countries, we reach over 150 million consumers each day. For more information, please visit https://www.us.moodmedia.com.
About Vibenomics
Vibenomics, a Mood Media Company, is the leading in-store digital advertising provider. Our platform provides a single, all-in-one retail media network, empowering retailers to digitize their on-premise experience and advertisers to connect with customers via display, audio and experiential channels. Through a first-of-its-kind turnkey solution, this model delivers the ubiquity and revenue-generating capabilities needed to drive the next iteration of retail media.
Acquired by Mood Media in 2023, Vibenomics works with hundreds of CPGs and more than 50 endemic and non-endemic categories today. The company plans to expand its retail locations to more than 500,000 worldwide. To learn more about Vibenomics, visit https://www.vibenomics.com.
Funds will support programmatic audio advertising expansion, tripling locations in next 18 months
Fueled by rising momentum in programmatic technology, national premier retail audio advertising provider Vibenomics has raised $12.3 million in Series B funding to support the launch of additional national networks in grocery stores, pharmacies, and convenience stores. The round is led by Panoramic Ventures, one of the largest and most active tech venture funds in the Southeast.
Vibenomics established itself as a formidable player in the Audio-Out-of-Home (AOOH) market after partnering with Kroger in May 2020. Last year, the company experienced its most significant growth, launching its first proprietary media player to deliver music, messaging and programmatic advertisements to each of its network partners’ individual locations. By mid-2021, Vibenomics introduced multiple Demand Side Platforms (DSPs) to become the first — and only — programmatic digital AOOH solution for advertisers.
“This funding validates our investors’ belief in the future of Vibenomics and what we’re building,” said Brent Oakley, CEO of Vibenomics. “AOOH’s value, impact and ability to scale allows retailers to provide a positive, in-store customer experience. We’re anticipating another record-breaking year in 2022 and these funds will enable us to continue innovating and accelerating product developments, building on our momentum.”
Vibenomics continues to expand its national footprint in programmatic retail advertising. Earlier this year, the company partnered with Hy-Vee, adding an additional 400 locations across the Midwest. In the coming months, Vibenomics has a line of sight to expand to over 20,000 locations by the end of 2023.
“Vibenomics directs the majority of its efforts toward consumer packaged goods (CPGs), a massive and highly competitive advertising sector eager to invest in innovative marketing strategies, particularly within retail locations,” said Paul Iaffaldano, general partner for Panoramic Ventures. “We believe that Vibenomics’s innovative approach to in-store audio advertisements in that industry gives us significant leverage to capitalize on a growing market.”
Vibenomics has nearly 40 employees, about 90% of whom live in the Indianapolis area and 10% work remotely. The company expects to increase its workforce by 25%, specifically in its sales and marketing departments, by the end of 2022.
To learn more about Vibenomics, visit https://www.vibenomics.com.
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 180 advertisers in more than 15,000 locations across 49 states, reaching more than 250 million unique monthly listeners.
Vibenomics dynamically broadcasts hyper-targeted, on-demand audio advertisements 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 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.
Panoramic Ventures is a venture capital firm based in Atlanta that takes a “wider-view” approach to investing by targeting the Southeast and Midwest and placing a focus on diverse founders and university startups. Panoramic opens new doors for overlooked founders, giving more entrepreneurs access to capital to build leading tech companies. For more information, visit www.panoramic.vc or follow Panoramic Ventures on LinkedIn, Instagram, or Twitter @panoramicvc.
Vibenomics is proud to announce that it has been named to the Great Employers to Work for in Indiana 2022 list by Best Companies Group. Vibenomics ranked seventh in the small company category. The awarded companies were selected based on a detailed, anonymous survey of its employees, as well as an analysis of the company’s workplace policies, practices, and demographics.
“Vibenomics strives to be an employer of choice,” said Jessica Largent, Senior Director of Operations at Vibenomics. “ We take pride in our company culture and the fact that Vibenomics employees can thrive in an environment that promotes a shared commitment to personal and professional growth.”
Best Companies Group’s annual award program identifies and honors the best places of employment in Indiana. The ranking is based on an anonymous employee survey and an analysis of their responses about corporate culture, training and development, salary and benefits, and overall employee satisfaction. Indiana companies that meet certain criteria are highlighted as Great Employers to Work for in Indiana.
“The data is clear: these companies are treating people with respect and care, and in return their people are giving their best at work,” said Jaime Raul Zepeda, Executive Vice President of Best Companies Group. “Best Companies Group is proud to recognize all companies on our 2022 Great Employers to Work For in Indiana list. Congratulations to all of our winners for building a people-first organization and being an employer of choice.”
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 180 advertisers in more than 6,000 locations across 49 states, reaching over 200 million people.
Delivered through flexible plug-and-play, proprietary, IoT enabled media players, Vibenomics dynamically broadcasts hyper-targeted, on-demand 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.
Vibenomics is proud to announce its recognition as an award recipient of the Powderkeg 2022 National Tech Culture Awards. This program recognizes the best company cultures in tech communities beyond Silicon Valley. Vibenomics has been acknowledged in the following award categories:
2022 Top-Rated SAAS
2022 Best Companies Remote
2022 Best Companies Work-Life Balance
2022 Best Companies To Work For
The winning companies were selected based on data submitted by employees and leadership for their company profile on Powderkeg, supplemented with publicly-available third-party data on several topics pertaining to company culture. Topics include: leadership, diversity & inclusion, career path, work-life balance, and remote work. Companies were able to add data to their Powderkeg profile including company size, perks and benefits, funding, industry, and employee testimonials. With this, the Top 100 startups and tech employers were recognized in twelve categories surrounding tech and company culture.
“Vibenomics is honored to once again be recognized by the Powderkeg Unvalley Awards as a leader in company culture. We strive to be an employer that provides its people with the opportunity to find meaningful, impactful work. It’s our culture that enables Vibenomics employees to have a purposeful work-life-balance, promoting a mutual commitment to personal, professional and company growth.”
– Marty Draper, Chief Operations Officer
Powderkeg’s mission is to connect professionals with the best opportunities in tech between the coasts. Empowering every person to reach their full potential, Powderkeg prioritizes talent retention and attraction for those companies that are ahead of the curve in providing flexibility and benefits beyond a paycheck. Learn more about Powderkeg and the award-winning finalists at www.powderkeg.com/awards.
About Vibenomics
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 120 advertisers in more than 6,000 locations across 49 states, reaching over 200 million people.
Delivered through flexible plug-and-play, proprietary, IoT enabled media players, Vibenomics dynamically broadcasts hyper-targeted, on-demand 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.
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