Retail media is booming, transforming how brands engage with consumers at the point of purchase. With retail media ad spend skyrocketing from $1 billion in 2016 to an anticipated $59.98 billion in 2024 (Emarketer, 2023), it’s clear that in-store media continues to become a more critical component of modern marketing strategies. However, the true potential of in-store media remains untapped due to inconsistent measurement methods and fragmented data sources.
Vibenomics’ latest white paper, “In-Store Impressions Unlocked: To the Roof, Under the Roof, In the Zone,” addresses these challenges head-on, offering a comprehensive guide for brands and retailers on how to navigate in-store audiences and gain accurate audience insights.
Overcoming Inconsistent Measurement Methods
One of the biggest hurdles in retail media is the need for standardized metrics for measuring in-store impressions. Current methods are inconsistent because they rely on disparate data sources and varied methodologies across retail networks. This inconsistency makes it difficult for retailers to quantify the value of their in-store media inventory and for advertisers to receive reliable and consistent audience insights.
Vibenomics’ white paper presents an applicative solution by advocating for clear audibility and viewability metrics. These metrics provide a comprehensive understanding of audience sizing, providing retailers and advertisers with accurate, trusted, and reliable data.
The Digital In-Store Retail Media Opportunity
Digital in-store retail media (digital displays, audio messaging, interactive kiosks, mobile integration, and experiential marketing), offers significant opportunities for retailers looking to connect with consumers. These channels engage shoppers, influence purchase decisions, and drive sales.
The rapid expansion of retail media underscores its importance in the advertising landscape, with technological advancements enabling retailers to implement dynamic digital advertising solutions. However, to fully capitalize on this potential, retailers must overcome the evolving standards and precise methods for measuring in-store impressions. This white paper includes insights and strategies from industry leaders looking to navigate these challenges.
Understanding the Digital In-Store Audience
Retailers must clearly understand their digital in-store audience to monetize their Retail Media Networks (RMNs) effectively. However, the current approach to understanding in-store audiences must be more cohesive. The white paper highlights the importance of a comprehensive in-store audience measurement strategy, emphasizing the need for strategic partnerships, data-driven content strategies, omnichannel integration, and consumer benefits.
Identifying the Value of an In-Store Impression
Accurate audience measurement is crucial for retailers looking to maximize the value of their RMNs and advertisers looking to optimize their in-store strategies. The white paper breaks down the components of in-store impressions, such as audience detection, ad exposure, and audibility/viewability. By understanding these components, retailers can create measurable units of ad exposure that aid in identifying the reach, frequency, and impact of in-store media campaigns.
Creating the Impression Value of a Store
The white paper emphasizes the importance of a standardized approach to accurate and comprehensive audience measurement. It details the collaborative efforts of Vibenomics, Placer.ai, and Quividi to develop next-generation in-store impression calculations. By integrating diverse data inputs, these companies create a more precise and comprehensive baseline for in-store media performance.
Delivering Accurate In-Store Impressions
Vibenomics’ white paper aligns with the Interactive Advertising Bureau’s (IAB) efforts to create a unified approach to in-store impression measurement. By leveraging location analytics and in-store sensor data, retailers can gain accurate impression counts and deduplicate audience reach. This standardized framework drives greater confidence and investment in in-store retail media.
The Future of In-Store Media
As the in-store retail media industry evolves, leveraging advanced technologies and reliable data will be crucial. The white paper underscores the importance of accurate audience measurement and targeted ad placement, leading to higher ROI and improved attribution. By capitalizing on and testing frequently, retailers and advertisers can refine their in-store media strategies, optimize content, and efficiently allocate resources.
Vibenomics‘ white paper, “In-Store Impressions Unlocked: To the Roof, Under the Roof, In the Zone,” is an essential resource for brands and retailers looking to navigate the complexities of in-store audiences. This white paper paves the way for a more standardized, transparent, and practical approach to in-store media by addressing inconsistent measurement methods and providing actionable insights. Download your copy of the white paper today!
Getting Started with Vibenomics
Vibenomics, a Mood Media Company, is the leading in-store digital provider with an in-store network that reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and connect with consumers via display, audio, and experiential channels.
Ready to elevate your retail media strategy with in-store audio? Click here to engage with Vibenomics today.
In the rapidly evolving world of retail media, understanding how to measure and optimize in-store advertising is crucial. Chapters 3 and 4 of the IAB’s Digital Out of Home (DOOH) & In-Store Retail Media Playbook offer deep insights into defining in-store retail media metrics and comprehending the complexity of in-store impressions. This blog provides essential guidance for brands and retailers aiming to enhance their in-store marketing strategies.
Holistic and Focused Measurement
“When considering the measurement of in-store activity, it needs to be considered as both a single-focus (measuring the impact of the tactic in consideration), as well as holistically—how the in-store activity performs in relation to the full omnichannel marketing activity. The in-store activity not only needs to be considered as part of the whole, but also how it impacts and is impacted by other out-of-store and online activity.”
Measuring in-store activity requires a dual approach:
Both approaches are essential for a comprehensive view of marketing effectiveness, ensuring in-store activities align with onsite and offsite efforts.
Measurement Methodologies
“As retail media evolves, measurement and optimization remain at the forefront, ensuring that strategies not only resonate with consumers but also drive measurable results.”
There are two primary methodologies for measuring audience exposure to in-store retail media advertisements:
“The metrics we analyze and consider in evaluating performance have to be thought about from each of these points of view, as well as to the overall experience of the shopper with the tactic – which will impact everyone.”
Accurately measuring the effectiveness of in-store campaigns involves several metrics:
The Impression Multiplier is a factor applied to ad play counts to estimate the number of shoppers exposed to an ad. It considers:
This multiplier provides a more accurate count of meaningful impressions, enhancing ROI analysis, strategic content placement, and customer engagement.
“Each Screen or Media Device should be assigned a unique Impression Multiplier based on a number of factors including Venue and Zone foot traffic, field of view, and exposure time, and may additionally vary based on the time of day.”
The impression multiplier is found using the following:
By applying the impression multiplier, brands can:
“With the application of an Impression Multiplier, retailers and brands can achieve a more nuanced understanding of their in-store advertising performance.”
Each retail venue is divided into zones to refine the physical location of media and differentiate contextual exposure to shoppers. Zones are classified to ensure consistent measurement and comparison across different retailers.
“Zones must be overlayed to allow for Exposure and Dwell Time to be applied through location-based foot traffic, screen specific sensors, or other verifiable positioning technology.”
Various technological solutions are available (In-Store Communication, Digital Out of Home, Retail Media, and End-cap/Self Activation) for enhancing retail operations and advertising strategies. Below are key measurement considerations for those technologies:
“The decision to implement any of these technologies rests solely with the retail owner. Each retailer may adopt these technologies based on their specific needs and strategic goals.”
Beyond simple impression counts, measuring engagement quality and interaction with in-store media offers valuable insights into consumer interest and campaign performance. Metrics such as dwell time, interaction rates with touchscreens, QR code scans, and responses to audio messages should be considered across all formats. These metrics help in understanding how many consumers are engaging with the content and how deeply they are engaging with it, providing a basis for optimization and creative refinement, but how deeply consumers are engaging with the content, providing a basis for optimization and creative refinement.
Understanding and accurately measuring in-store retail media is vital for optimizing marketing strategies. By leveraging the insights and methodologies outlined in Chapters 3 and 4 of the IAB’s DOOH & In-Store Retail Media Playbook, brands and retailers can enhance their in-store advertising efforts, driving better engagement and higher ROI.
Be sure to check out Vibenomics’ latest whitepaper, In-Store Impressions Unlocked, to discover how to overcome inconsistent measurement methods to navigate in-store audiences and gain accurate audience insights!
Vibenomics, a Mood Media Company, is the leading in-store digital provider with an in-store network that reaches over 170 million monthly unique shoppers and 1 billion monthly shopping visits in the United States. Our platform provides a single, all-in-one retail media network, empowering advertisers to deliver an on-premise experience and connect with consumers via display, audio, and experiential channels.
Ready to elevate your retail media strategy with in-store audio? Click here to engage with Vibenomics today.
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.
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.