In this week’s member guest blog post we caught up with James Allison, Director Market Development at Advertima. In this exciting and informative piece James looks at how In-Store Audience Segmentation impacts Retail Media performance.
In-store shoppers are a crucial audience for grocery and FMCG advertisers. However, traditional in-store digital signage has been unable to compete with online Retail Media, thanks to the latter’s real-time targeting and measurement capabilities.
Traditional digital signage cannot offer real-time audience segmentation, shopper targeting, or campaign measurement to the level advertisers are used to with online digital advertising.
While advertisers want to reach the 80% of grocery shoppers who prefer physical stores, they will not do so at the cost of targeted communications and verifiable performance metrics.
As a result, in-store Retail Media tends to get left out of mainstream Retail Media plans.
Smart Digital Signage Can Transform In-store Retail Media Performance
To capture Retail Media budgets, set to exceed $230 billion by 2027, retailers will need to upgrade to smart digital signage. They need in-store media solutions to digitise and monetise in-store audiences, just like online audiences.
Fortunately, advanced in-store Retail Media technology is making that possible. Solutions, like Advertima’s In-store Audience Creator, are pioneering never-before in-store digitisation, targeting, and measurement capabilities, which turn traditional digital signage into smart digital signage and bring in-store Retail Media performance at par with online Retail Media.
Let’s find out how.
Real-time Audience Segmentation for Smarter Targeting
With the average person exposed to hundreds, if not thousands of ads, depending on where they live, relevance is valued by both advertisers and shoppers.
Traditional in-store digital signage run looped playouts based on the time, location, or other ‘non-audience centric’ parameters. However, it isn’t possible to gather insights about who watched the ad and whether they found it relevant.
On the other hand, smart digital signage can play ad creatives targeted to addressable audiences in real-time based on predefined advertiser segments.
How Real-Time Segmentation Targeting Impacts In-Store Media Performance
● Better value proposition leads to higher CPMs: Retailers can shift away from ‘location-based’ to ‘audience-centric’ media offerings.
● More efficient use of ad inventory: Because each playout is targeted in real-time (not loop-based), advertising campaigns reach more monetisable audiences per playout for a defined target group. Reaching more targeted and relevant shoppers within the same period of time increases each playout’s value. .
● More sellable ad inventory: Because campaign goals are reached faster with fewer targeted playouts, retailers can sell more campaigns on the same inventory and increase profits from the same number of screens.
● Better ROAS: For advertisers, Smart Targeting means more effective ad spending, increased ROAS, and less wastage as targeted ads are only delivered to verified and relevant audiences who match the pre-defined seller segment criteria.
Performance Metrics and Audience Insights
It is no longer enough for media owners to provide playback logs that prove an ad was shown (where, when, and how many times).
Advertisers today want to know why the ad was shown in the first place, whom it reached, and how it performed compared to other creatives, segments, or media networks.
How Real-time Metrics Impact In-Store Retail Media Performance
Traditional in-store media measures indicative post-campaign performance. Real-time reports help track and measure impact for optimal budget utilisation while the campaign is still ongoing.
Campaign Analytics
Creative Analytics
Predictive Analytics
Network Analytics
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