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.
The retail landscape has changed dramatically over the past two years with the rise of virtual shopping. But as COVID-19 cases decline and vaccination distribution increases, brick-and-mortar shopping is making its return.
The influx of brands in brick-and-mortar stores requires retailers to adopt effective marketing strategies that drive foot traffic and customer loyalty. While e-commerce will remain popular, brands interacting with customers through various media — print ads, e-commerce apps, social media ads and primarily contextual ads in-store — will keep ahead of competitors. To drive purchases, brands must reach consumers across the sales funnel, delivering a consistent buying experience online and offline.
To capture and maintain shoppers’ attention in the crowded retail landscape, brands must invest in efforts designed to maximize customer interaction. For example, 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. One of many notable findings in the Path to Purchase Institute’s “Shopper Engagement with Retail Media” research report.
Retailers are increasingly adopting audio out-of-home (OOH) — an in-store advertising strategy sitting at the end of the marketing funnel and targeting shoppers at the point of purchase. With 89% of consumers noticing in-store audio, retailers are eager to tailor ad messages played between songs to target hyper-specific, local customers with the highest propensity to spend.
This strategy offers a dynamic — not static — advertising approach. For example, it doesn’t rely on someone to walk by a display or see a posted sign. Instead, it reaches a “captive audience” throughout a store. The report found that 59% of consumers enjoy seeing or hearing about the products available at the retailer and are open to considering purchasing them during their shopping trip, proving this is an effective advertising tactic.
Retailers can customize audio OOH campaigns based on current inventory, eliminating the accidental promotion of out-of-stock products. Customer demographic data such as gender, age and lifestyle offers insights to guide decisions about ad choice and scheduling to optimize impact.
By implementing audio in-store as an integral part of their retail media strategy, advertisers and retailers gain an additional tool to raise in-store sales through optimized customer engagement, a sentiment Vibenomics has been driving with larger retailers in the industry for years.
Despite the current economic climate, retail media has cemented itself in the advertising landscape. “Fool-proof” channels like paid search, social media ads and cookies do not offer the same access to customers they once did. Therefore, brands realize the necessity of building a more complete marketing funnel by connecting with their customers through multiple touchpoints along the buyer’s journey.
Continued investment in retail media, specifically digital in-store media — including video displays and audio advertising — demonstrates these markets’ resilience in the face of economic and industry change. Shopper first-party data will continue to drive these channels, providing a win-win for advertisers and retailers. Advertisers can maximize the value of each customer interaction. Retailers open themselves to alternative revenue streams.
In competitive environments like grocery, convenience stores or big-box retailers included in this report, audio in-store can make the difference in what items people choose. Brands need options to layer their campaigns and highlight their products. For this purpose, audio OOH is the perfect partner.
About the Author
Paul Brenner joined Vibenomics in 2019 as Chief Strategy Officer to help develop the go-to-market strategy for the company’s first-to-market Audio Out-of-Home advertising solution. After a successful launch, Brenner was promoted to President of Audio OOH to oversee all efforts surrounding revenue-generating activity and related partnerships, and recently joined the DPAA Research Committee and new IAB Retail Media Committee. He has more than 25 years of experience in media and entertainment and technology leadership.
We live in a world where we’re constantly bombarded by messaging. It’s on our televisions. Digital billboards light up our roads. Even gas pumps play video ads. In fact, some experts estimate the average person encounters anywhere between 6,000 and 10,000 ads every single day.
Yet there are times — and environments — where ads really do deliver messages we hear or see and process. Take, for example, the grocery store. And let’s face it. We’re far more likely to pay attention to an ad we hear while we’re perusing the aisles.
Considering the frustration many of us continue to experience with out-of-stocks, price increases, and down-counts, maybe grocery shopping isn’t as enjoyable as it’s been. Stores understand our frustration. But they’ve got a good tool to help alleviate it: Audio Out of Home (AOOH).
You might be wondering how AOOH connects to out-of-stocks. It’s really not a stretch! The supply chain includes a myriad of variables. Supply chain issues, labor shortages and fuel increases all play a part in the challenges we’ve seen since early 2020.
Consumers want to interact with advertisements for products they can actually purchase instantaneously and avoid the frustration of supply-chain issues leading to out-of-stocks. Grocery stores leveraging retail media networks — particularly with programmatic in-store offerings like audio — become listening halls used to reinforce a retail media campaign’s messaging. Here’s why:
EMarketer said 2022 is “The year of retail media networks.” US spending has grown another $10B to over $41B and represents 17.2% of total US digital ad spending. It’s proof positive that retail media has a solid place in the current economic climate.
Paired with the inflation we’re experiencing — and not just in grocery — we’re seeing a significant shift in shopper behavior and expectations, and predict this shift will translate into a demand for stronger brand awareness and retailer accountability.
How does AOOH fit in? It enables brands and retailers with products in stock to capitalize on letting in-store shoppers know what’s in stock — and on special. It’s a great way to cultivate future loyal customers and reinforce positive relationships with current brand-lovers. These in-store marketing and retail media tactics like AOOH tells shoppers what you’re doing well.
We know that over 70% of consumers prefer in-store, brick-and-mortar shopping. We also know over 50% of grocery shoppers are inclined to make impulse buys. Activating audio advertising with Vibenomics is a great way to encourage and influence purchases — including those made impulsively. It’s a simple and effective layer to any brand or product awareness effort and messages multiple shoppers in the environment where they can access and purchase your items.
We’ve certainly seen supply chain ebbs and flows before. Brands, suppliers and manufacturers focus on its many nuances:
It all matters, and believe me, manufacturers of items on our lists are keenly aware of shifts in these areas. We know inflation impacts shoppers and that repeated disappointment about out-of-stock items may drive shoppers to a different store. It only underscores your need to work more diligently with your brands and suppliers to create non-negotiable key items you’ll always have in stock.
Have backup suppliers ready just in case your go-to suppliers can’t deliver. Create bundle offers at a deal price, buying deep from your suppliers and passing the savings to shoppers purchasing a complete bundle.
Finally, don’t neglect your retail media. Don’t make the mistake of relying solely on printed store flyers, ecommerce, mobile or onsite/offsite approaches. In-store audio elevates marketing campaigns by providing another strategy for stores to:
And don’t discount the equally important value: creating a pleasant atmosphere that enhances shopping experiences and transforms occasional customers into repeat, loyal customers. It’s time for brands and retailers to be better. Engage Vibenomics today to look at how to effectively message shoppers at point of sale.
Leading advertising and audio experience company joins industry experts to discuss the impact of Audio Out-of-Home on adult beverage sector
Vibenomics, a location-based Audio Out-of-Home™ (AOOH) advertising and audio experience company, today joins product marketing and retail leaders at the Path to Purchase Live: Digital Experience. The virtual event runs from Nov. 2-4 and includes live sessions and commentary from speakers at leading brands like Heineken USA, Google, General Mills, Publicis and more.
As brands adjust to unprecedented changes in how consumers discover, consider and make purchase decisions, Path to Purchase features success stories, timely consumer behavior research, and opportunities to discover new best practices that engage shoppers and drive sales. Sessions will touch on sustainability, purchase decision-making online and in-store, pandemic leadership lessons, and adult beverage marketing strategies.
“Audio Out-of-Home technology is an investment adult beverage brands should be making today and into 2022,” said Paul Brenner, chief strategy officer and president of AOOH for Vibenomics. “For example, because it incorporates Audio Out-of-Home into its media plan, Heineken stands out against competitors at the point of purchase. We’re proud to be a part of this panel to discuss why elevating Audio Out-of-Home as a retail media tactic will continue to play a vital role in influencing shopping behaviors.”
On Nov. 4, representatives from Vibenomics, Suzy Market Research, Kwik Trip Inc., and Heineken USA will highlight how adult beverage brands can benefit from partnering with retailers and use AOOH technology to increase activation at the point of purchase. Market research reveals that shopper behavior is significantly influenced when the media mix includes retail media, online/offline and in-store. The panel will discuss these topics and provide perspective on how COVID-19 continues to impact buyer behaviors.
During the panel, Madhu Iyengar, director of enterprise partnerships at Suzy Market Research, plans to share key findings from the retail market and individuals who purchased alcoholic beverages at grocery or convenience stores in the past six months. A few highlights include:
“We’re looking forward to sharing our experiences in advertising with out-of-home audio at the Path to Purchase Live event. Vibenomics has been a key partner the past few years and utilizing their in-store audio technology, we’ve seen purchases increase on advertised brands as we drive store traffic to the beer aisle,” said René Robers, previous customer marketing manager, now serving as senior manager, ecommerce at Heineken USA.
To register for the Path to Purchase Live: Digital Experience event, visit https://www.pathtopurchaselive.com/2021/begin. For more information about Vibenomics, visit https://www.vibenomics.com.
The Trade Desk is first-to-market omnichannel DSP to support audio out-of-home through partnership with Vistar Media
Vistar Media, the leading global provider of programmatic technology for digital out-of-home (DOOH), today announced the extension of OpenRTB integrations to include audio-only out-of-home. The Trade Desk is the first omnichannel demand-side platform (DSP) to support this extension, allowing them to programmatically purchase audio inventory from networks such as Vibenomics.
An emerging category within the out-of-home media landscape, audio OOH allows brands to influence consumers with engaging messaging seamlessly blended into a retail environment.
“With the growth we’ve seen from both DOOH and Audio as separate emerging channels, it was the logical next step to expand our omni-channel offering into audio OOH,” said Maggie Mattingley, Senior Manager of Inventory Partnerships, The Trade Desk. “Through Vistar’s new audio capability, we continue to provide the best possible digital media available for advertisers and agencies to deliver a holistic digital advertising campaign.”
“Exposing our unique audio inventory to omnichannel DSPs such as The Trade Desk to transact against Audio Out-of-Home is a logical next step in the growth trajectory for our network and the industry at large,” said Paul Brenner, CSO and president of AOOH, Vibenomics. “The reach of our audio network combined with Vistar’s market-leading SSP capabilities helps the buy-side flex their programmatic spending, target specific market areas, provide brand support and measurement such as incremental lift and return on ad spend.”
For more information about Vistar, please direct inquiries to info@vistarmedia.com.
About Vistar Media:
Vistar Media is a geospatial technology company bridging the space between advertising ecosystems and consumer movement patterns. Founded in 2012, Vistar created the first and only universal marketplace for out-of-home media, building a programmatic platform that has been widely adopted by buyers and sellers. Vistar provides marketers with unprecedented access to consumers at the right place and right time, through a data agnostic system for analyzing consumer movement patterns and activating cross-screen mobile and out-of-home media. For more information, visit www.vistarmedia.com.
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.
You are driving home from work contemplating what you will fix for dinner tonight, when you pass a billboard on the side of the road prompting you to pick up ingredients for your favorite casserole before calling it a day. On your commute to work the next morning, the same billboard shows an ad for breakfast biscuits, reminding you that you forgot to grab breakfast on the way out the door. So, you pull over to the nearest convenience store and make an impulsive purchase as a result of seeing the ad. This is the power of programmatic advertising.
Programmatic advertising is the method of purchasing and trading digital media using technology to execute buying commands through a public platform. Buying digital media in an automated fashion allows advertisers to purchase in an efficient and effective manner. Traditional Out-of-Home advertising methods were stagnant – billboards and signage that presented the same ad for months on end to a broad, catch-all audience. Today, various forms of Digital Out-of-Home advertising enable advertisers to programmatically target the right audience, in the right place, at the right time. Through the years, consumers have changed their media consumption, with more consumption going digital. Instead of traditional methods, consumers have fragmented their media behavior and consumption across a plethora of screens and mobile devices. With the movement to digital advertising, programmatic now accounts for over half of digital advertisement placements.
The power of programmatic lies in choice and scale. With programmatic, the advertiser chooses what ad impressions they want instead of the publisher doing it for them. Programmatic allows advertisers to engage with consumers at different points along the path to purchase, providing the greatest opportunity to influence purchase decisions. This choice in ad placement allows advertisers to be seen and heard in the right place, at the right time, by the right audience. Thus, the power of choice in programmatic has the ability to increase return on ad spend (ROAS) given that brands reach the type of impressions they are intending to land. Not only does programmatic impact sales, it provides insights and analysis on how the ads are performing. Purchasing programmatically offers marketers and advertisers insight of what channels are worth investing in and how it affects a brand’s media mix.
The reach and scale of programmatic through public platforms provides ample opportunities for brands to reach their targeted audiences beyond the initial publisher or website. To put it into perspective, Facebook reaches an audience of 2.31 billion per day and YouTube reaches an audience of 1 billion per day with their advertisements. Programmatic platform, The Trade Desk, however, reaches over 4 billion potential consumers per day. The omnichannel approach of programmatic advertising ensures that retailers’ targeted audiences will receive relevant ads regarding products or services they are likely to purchase, rather than random, overarching advertisements that do not provide as much value to them as a consumer. This method shares a more holistic view of the customer, reaching them with the same ad on multiple devices simultaneously.
The future of advertising is programmatic. The ability to choose, on a large scale, when and where your audience will encounter your advertisements is a major contributor to increased brand recognition and sales. Vibenomics, the pioneer in Audio Out-of-Home Advertising, provides brands with a programmatic offering that allows advertisements to be heard by target consumers directly at the point of purchase when propensity to spend is highest. To get started with Vibenomics and unlock the power of programmatic advertising, visit www.Vibenomics.com.
The numerous furloughs and bankruptcy filings over the course of the past year have proven that the pandemic has caused an immense strain on the retail industry. Consumers avoided in-person shopping experiences and instead found alternative ways to continue their buying habits. While big-box retailers, such as Walmart and Target, were able to withstand the economic upheaval, even the most established brands are seeing shifts in e-commerce shopping, various delivery and curbside pick-up options, and consumer behavior across brick and mortar locations. This drastic change in consumer behavior has accelerated the phenomenon known as the Amazon Effect, and has made it difficult for brands to meet new demands and expectations. With this shift in buying behavior, consumers have come to expect targeting, personalization, and convenience. However, with Audio Out-of-Home technology (Audio OOH), businesses are able to overcome this change by framing their brand, driving higher sales, and enhancing the customer’s in-store experience.
Audio Out-of-Home advertising technology gives retailers the ability to reach consumers with customized messages and advertisements at the point of purchase. Utilizing consumer demographics, location-based customization, and personalized messaging can help maximize the impact of Audio OOH. Not only do retailers have the unique opportunity to reach customers along the path to purchase, but the ability to tailor music, messaging, and advertisements based on the target audience’s characteristics, behaviors, and expectations. Audio OOH allows retailers to deliver environmental consistency and frame their brand in the way they wish to be perceived by consumers. With Audio OOH, retailers have the opportunity to generate a carefully crafted environment, giving their customers an enhanced understanding of the brand.
With the advanced technology and well-placed advertisements, Audio OOH enables retail locations to move product on the shelf, leading to higher return. Delivering messages to the consumer when propensity to spend is highest along the path to purchase, turns those impulsive buys into strategically selected purchases. As a matter of fact, 70% of shoppers make their purchase decisions in-store, making it the best place to influence an impulsive purchase. This creative and strategic method of messaging increases advertisers’ return on ad-spend (ROAS) and sales, because not only are shoppers more inclined to purchase these products, but the subconscious listening instills brand awareness, recognition, and loyalty. Consumers’ likelihood of leaving their comfort zone to try new products, remember that forgotten item on a shopping list, and make repeat purchases is higher when utilizing Audio OOH technology.
Consumers have come to expect the same personalization in physical retail locations that they have become accustomed to in the world of e-commerce based on the advancements in digital and online advertising methods. Not only does Audio OOH technology offer data-driven, measurable, and programmatic automation of advertisements, but it enhances the in-store customer experience. 80% of consumers are more likely to purchase from a company that offers a personalized experience. When advertisers shift their focus on increasing engagement and loyalty to stand out among competitors in the market and meet the evolving shopper expectations, customers will begin to develop a level of loyalty for specific retailers.
Both retailers and brands can benefit from utilizing Audio Out-of-Home in physical retail locations. Audio OOH enables retailers to increase sales while improving the customer experience when propensity to spend is highest. Vibenomics, the pioneer in Audio OOH, provides retailers with the cloud-based technology and industry expertise to frame their brand, enhance the in-store experience, build brand loyalty and drive higher sales. Allowing locations to control the in-store vibe through background music, live announcements, and promotional messaging, Vibenomics powers audio channels for retailers, giving brands the ability to talk to shoppers directly at the point of sale, battling the Amazon-Effect.
Vibenomics, a location-based Audio Out-of-Home™ (AOOH) advertising and experience company, today announced its partnership with Vistar Media, the leading global provider of software for digital out-of-home (DOOH).
The partnership marks the first time that advertisers will have the ability to purchase audio-only inventory — combining licensed, background-music playlists, paid commercial spots, or brand messaging — on an OOH exchange. Now, advertisers can further impact immediate purchase decisions by reaching shoppers directly through a unique auditory experience at points-of-sale inside thousands of retail locations. In turn, participating brick-and-mortar retail businesses can increase sales, participate in a revenue share program, and enhance the customer experience.
“Vistar Media is a pioneer and leader in the programmatic OOH space,” said Brent Oakley, co-founder and CEO at Vibenomics. “Together, we are opening up access to this growing channel, while utilizing Vistar Media’s experience in building a vast exchange across some of the largest place-based venues in the world. This partnership is so unique because no other SSP could handle both the nuances of out-of-home and provide access to real demand at that level.”
Through a single integration with Vistar’s API, Vibenomics has access to Vistar’s supply-side platform (SSP), as well as Vistar’s ad server, to handle delivery and scheduling of their own ad placements and content. Vibenomics selected Vistar as their ad serving & programmatic software provider because of Vistar’s expertise in handling the nuances of location-based OOH and digital programmatic.
“Vistar chose to partner with Vibenomics and to embrace audio out-of-home because it provides our marketers with the ability to reach a consumer near the point-of-purchase in a retail environment,” said Michael Provenzano, CEO and co-founder, Vistar Media. “Our customers are already doing that with screens in retail locations, and audio-out-of-home is a perfect extension of those strategies. Our partnership with Vibenomics creates not only a new category of DOOH, but also indicates a bright future of advertising overall.”
For more information about Vibenomics, visit www.vibenomics.com. For more information about Vistar Media, visit www.vistarmedia.com.
About Vistar Media
Vistar Media is the world’s leading end-to-end programmatic ecosystem for digital out-of-home (DOOH). Vistar Media’s demand-side platform (DSP) and supply-side platform (SSP) empower buyers and sellers to easily transact on DOOH inventory while applying intelligent data insights that improve media performance. Vistar’s SaaS solutions (unified ad server and Cortex for device and content management) deliver enterprise-grade solutions for monetizing and operating digital signage networks at any scale. Through its global reach, direct platform integrations, data partnerships, and complete technology stack, Vistar Media continues to power innovation and growth across the digital signage industry. Founded in 2012, Vistar Media is headquartered in New York City and has offices across the United States, Canada, the United Kingdom and Australia.
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 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.
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