Vibenomics

The Sights and Sounds of Retail Media In-Store

Be Better – Consumers Are Over It

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:

So Now What?

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.

The Time For Change Is Now

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.

Vibenomics Presents at Inaugural Path to Purchase Event

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.

Vibenomics Raises $6 Million to Accelerate Dominance of Audio Out-of-Home™ Advertising

Vibenomics, a location-based Audio Out-of-Home advertising and experience company, today announced it has raised $6 million in Series A funding to further its momentum in the advertising market. The round was led by BIP Capital and brings total company funding to $13.5 million. The funds will largely support the expansion of convenience stores and grocery retailers in the Vibenomics Audio OOH™ Advertising Marketplace.

By combining licensed, background-music playlists and commercial spots paid for by brand advertisers, Vibenomics helps businesses with physical locations enhance store sales, enrich the customer experience and receive a share of advertisement revenue. The company enables brands to talk to shoppers directly at the point-of-sale inside thousands of retail locations through Audio OOH advertising, impacting immediate purchase decisions.

“Our team is pioneering programmatic Audio OOH media and has emerged as a resounding success story of how a traditional ad medium committing to digital transformation can achieve significant growth in both revenue and share of ad spend,” said Brent Oakley, co-founder and CEO of Vibenomics. “We will use this Series A investment to accelerate product development and scale go-to-market execution, building on the momentum we’ve already seen in only a short period of time.”

According to a recent study by MAGNA, listeners are 35% more receptive and open to audio ads than viewers. Built for both location-based businesses and advertisers, Vibenomics has reached incredible scale at a rapid pace. The company has added over 100 brand advertisers in more than 4,000 locations across 48 states — reaching over 150 million people — and provides a vehicle for retailers to monetize their private, physical-location airwaves to transform a legacy expense into a new profit center.

“Vibenomics is a fresh new way to reach shoppers at the point of making purchase decisions,” said Paul Iaffaldano, chief investment officer at BIP Capital. “It has an amazing effect on both impulse items and brand preference within competitive categories.”

In addition to the funding, Vibenomics recently welcomed several key brands to its customer base, including convenience store chain Kwik Trip, and additional national retailers being announced in Q2.

“When Vibenomics approached the Kwik Trip team, the technology and revenue model was something I’ve never seen in this space before,” said Mark Meisner, Director of Marketing and Advertising at Kwik Trip. “We typically see 8 million or more transactions a week in our stores and, with that amount of ears and eyes, we have a unique opportunity to impact buying choices. When I first took a deep dive into the Vibenomics model, I saw the potential to offset costs to the stores for in-store music and potentially generate ad revenue. The model itself made sense to me and the technology was clean as far as installation and logistics. Vibenomics has been a great partner in accommodating our business needs.”

BIP Capital is recognized as one of the most active venture investors in the Southeast, serving entrepreneurs, investors, and operators to grow the emerging company ecosystem. It applies experience and process to make investment decisions and operational recommendations, allowing its portfolio companies to achieve and stay on a glide path of growth. Areas of focus include Enterprise SaaS, Healthcare IT, Digital Media, Dev Tools, and MarTech.

Vibenomics, Inc. is a location-based Audio Out-of-Home™ advertising and experience company that powers audio channels for retailers, giving brands the ability to talk to shoppers directly at the point of sale. With its powerful cloud-based technology, licensed background music library, data integration capabilities, full-service team of audio experience experts, and network of on-demand professional voice talent, the company provides the right revenue-enhancing vibe for over 100 advertisers in more than 4,000 locations across 48 states, reaching over 150 million people.

Delivered through flexible plug-and-play mobile tablet devices, Vibenomics dynamically broadcasts hyper-targeted, in-stream audio advertisements and curated playlists within any combination of locations across its swiftly growing national footprint, unlocking a powerful new shopper marketing channel for reaching consumers during the critical final footsteps along the path to purchase. Through a first-of-its kind partner program, retailers can receive a portion of revenue for all advertisements sold by Vibenomics that play within their locations, giving them the ability to monetize their private airwaves and transform a legacy expense into a new profit center.